Consumer Finance Monitor Podcast Episode: The CFPB’s Registry of Nonbanks and Circular that Certain Contract Terms Violate Law
The Future of Digital Consumer Payment Applications: CFPB's Proposed Larger Participant Rule – The Consumer Finance Podcast and Payments Pros Podcast
Podcast: Private Fund Regulatory Update: Post-U.S. Government Shutdown
On May 22, 2024, the US federal banking regulators finalized a new set of reporting requirements for bank loans and commitments to fund finance facilities, private credit lenders, and other nonbank financial entities.This...more
What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more
The CFPB has issued a final rule to provide transparency and track certain covered nonbank offenders. On June 3, 2024, the CFPB introduced a significant regulatory measure known as the Registry of Nonbank Covered Persons...more
On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data...more
FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches - “Amendment will require non-bank financial institutions to report when they discover that information affecting...more
On October 27, 2023, the Federal Trade Commission (FTC) finalized an amendment to the Safeguards Rule that will impose data breach reporting requirements on nonbanking financial entities subject to the Gramm-Leach-Bliley Act...more
Floorplan financing exemptions in the new state commercial financing disclosure laws may not be as broad as lenders think. Following in the footsteps of California in 2018, states across the nation — including Utah,...more
On December 12, 2022, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule pursuant to its authority under the Consumer Financial Protection Act of 2010 (CFPA). This rule would require certain non-bank...more
The Financial Stability Board (FSB), an international body established in 2009 to implement and promote effective regulatory, supervisory and other financial sector policies, issued its most recent annual Global Monitoring...more
France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more