News & Analysis as of

Third-Party Service Provider Dodd-Frank Wall Street Reform and Consumer Protection Act

BakerHostetler

Potential Risks to Financial Stability: The Financial Stability Oversight Council’s 2024 Annual Report

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The Financial Stability Oversight Council (FSOC or Council) unanimously approved and issued its 2024 Annual Report on December 6, 2024, lauding a strong economy and stable financial system while also outlining numerous risks...more

Alston & Bird

Third Party Payment Processors as ‘Covered Persons’: A Return to CFPB Regulation by Enforcement?

Alston & Bird on

A&B ABstract: The CFPB has recently asserted extraordinary authority to make any payment processor monitor the activities of any merchant for which it processes payments, even if that merchant does not provide consumer...more

Mitratech Holdings, Inc

Why Is Vendor Management Software So Crucial For Financial Institutions?

Vendor management is a complex task, yet a necessary undertaking for any organization dealing with third parties.  ...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2020

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Stinson LLP

Emerging Trends Newsletter - Q3

Stinson LLP on

We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

Ballard Spahr LLP

CFPB Holds Hearing to Present Proposals for Debt Collection Regulation

Ballard Spahr LLP on

July 28th, the CFPB held a field hearing in Sacramento, California on debt collection that coincided with its release of an outline of the proposals it is considering in connection with its debt collection rulemaking. In his...more

Ballard Spahr LLP

CFPB Releases Debt Collection Industry Study

Ballard Spahr LLP on

On July 28, the CFPB held a field hearing about debt collection in Sacramento, California coinciding with the release of an outline of the proposals it is considering in connection with its debt collection rulemaking....more

Ballard Spahr LLP

CFPB previews debt collection rule in SBREFA outline

Ballard Spahr LLP on

The CFPB has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel. The Small Business Regulatory...more

Ballard Spahr LLP

CFPB Previews Debt Collection Rule in SBREFA Outline

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel....more

Burr & Forman

CFPB Issues Sweeping and Unprecedented Rulemaking Proposals Seeking to “Drastically Overhaul Debt Collection Market”; Proposals...

Burr & Forman on

Early in the morning on July 28, 2016, in coordination with the Consumer Financial Protection Bureau’s (the “Bureau”) field hearing on debt collection being held the same day in Sacramento, California, the Bureau released a...more

Goodwin

CFPB Files Lawsuit Against Payment Processor Over Alleged Unauthorized Withdrawals from Consumer Accounts

Goodwin on

On June 6, 2016, the Consumer Financial Protection Bureau (CFPB) announced it filed a lawsuit against a third-party payment processor and two of the company’s executives over allegations the company permitted unauthorized...more

K&L Gates LLP

In Win for CFPB, Federal Court Clarifies Scope of “Substantial Assistance” and “Service Provider” Provisions of Dodd-Frank Act

K&L Gates LLP on

In the first court decision to opine on the “service provider” and “substantial assistance” provisions of the Dodd-Frank Act, a federal district court in Georgia denied a motion to dismiss brought by payments processors who...more

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