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New Rules FinTech

Troutman Pepper Locke

2024 Payments Year in Review: CFPB and FTC Regulatory Trends – Part One — Payments Pros – The Payments Law Podcast

Troutman Pepper Locke on

In the first installment of a four-part Payments Year in Review series, Keith Barnett, Carlin McCrory, and Josh McBeain discuss significant developments in the payments landscape from the Consumer Financial Protection Bureau...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Troutman Pepper Locke

FDIC Proposes New Rule to Strengthen Recordkeeping for Third-Party Deposits

Troutman Pepper Locke on

On September 17, the Federal Deposit Insurance Corporation (FDIC) announced a notice of proposed rulemaking (Proposal) aimed at enhancing recordkeeping for bank deposits received from fintech and other third-party, non-bank...more

A&O Shearman

New draft of Polish markets in crypto-assets act – evolution or revolution in the legislative process?

A&O Shearman on

Although the Regulation of the European Parliament and of the Council (EU) 2023/1114 of 31 May 2023 on crypto-assets markets (the MiCAR) was published in June 2023, the work on laws implementing it in Poland is still in...more

Polsinelli

Blockchain+ Bi-Weekly - February 2024 #2

Polsinelli on

The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptoassets Will Soon Be Subject to UK’s ‘Financial Promotions’ Regulations

On 7 June 2023, the UK Parliament passed the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023, which brings cryptoassets within the scope of rules that regulate the marketing of financial...more

Perkins Coie

NYDFS Implements Virtual Currency Assessments Rule

Perkins Coie on

The New York Department of Financial Services (NYDFS) formally implemented its Virtual Currency Assessments Rule as 23 NYCRR 102 on Wednesday, April 19, 2023, by publishing a notice of adoption in the State Register. Under...more

Goodwin

CFPB to Supervise Fintechs Based on Consumer Risk

Goodwin on

Continuing a trend of expanding its supervisory scope, the Consumer Financial Protection Bureau (CFPB) announced on April 25, 2022 that it will examine fintechs and other nonbank financial enterprises, based on reasonably...more

Sheppard Mullin Richter & Hampton LLP

FinTechs in Crosshairs as CFPB Invokes Dormant Authority to Examine Nonbanks

On April 25, the CFPB announced that it is using its “dormant authority” in order to conduct examinations of nonbanks posing risks to consumers.  The Bureau has direct supervisory authority over banks and credit unions,...more

Bradley Arant Boult Cummings LLP

Fintechs and Non-banks Beware: CFPB to Utilize “Dormant Authority” to Examine Fintechs and Other Non-bank Financial Services...

On Monday, the CFPB issued a press release announcing that it will start using its authority to examine non-bank financial services institutions that the CFPB has “reasonable cause to determine pose risks to consumers.” In...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Morgan Lewis

Expanded Safeguards Rule Applicable to More Financial Institutions; Gives More Specificity on Security Requirements

Morgan Lewis on

The Federal Trade Commission recently finalized a long-discussed update to its cybersecurity Safeguards Rule that includes more specific criteria for what financial institutions must implement as part of their information...more

Jones Day

French Investment Firms Permitted to Carry Out More Nonfinancial Activities

Jones Day on

An order was published on December 23, 2020, amending the order of September 5, 2007, relating to the nonfinancial activities that French investment firms may conduct. As a matter of principle, and similarly to credit...more

Jones Day

Fintech: Proposed Banking Cyber-Incident Notification Rules Could Apply to You, Too

Jones Day on

The Situation: As we advised in our recent Commentary, federal banking regulators have proposed rules requiring a banking organization to provide its primary federal regulator with prompt notification of any...more

White & Case LLP

OCC modernizes, adds flexibility to powers and procedures rules

White & Case LLP on

The OCC recently finalized two broad updates to its regulations that increase flexibility for regulatory filings, including for corporate transactions such as business combinations, and update and clarify permissible...more

McDermott Will & Emery

[Event] Fintech Seminar 2019: Digital Identity On Blockchain - November 18th, London, England

McDermott Will & Emery on

McDermott Will & Emery host an in-depth discussion and networking opportunity at our FinTech Digital Identities Forum. A panel of industry experts provide an update on international blockchain developments and regulations...more

A&O Shearman

European Banking Authority Publishes Opinion on Strong Customer Authentication Under Payment Services Directive

A&O Shearman on

The European Banking Authority has published an Opinion on market approaches to payment authentication that will be deemed compliant with the new rules on strong customer authentication coming into force later this year....more

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