The next episode in McGlinchey’s Deep Dive into Lending series takes a close look at unsecured lending with insights from Aaron Kouhoupt and Adam Maarec. They discuss innovations in loan applications, underwriting, and...more
8/25/2025
/ Borrowers ,
Consumer Financial Products ,
Consumer Lenders ,
Consumer Protection Laws ,
Creditors ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Applications ,
Loans ,
Underwriting ,
Unsecured Debt
In a significant move, on June 27, 2025 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order granting banks and their subsidiaries an exemption from the Customer Identification...more
7/10/2025
/ Banks ,
Customer Identification Program (CIP) ,
Data Collection ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Patriot Act ,
Popular ,
Regulatory Reform ,
Regulatory Requirements ,
Taxpayer Identification Number ,
Third-Party ,
U.S. Treasury
Join McGlinchey’s Deep Dives series for an in-depth exploration of open banking, a transformative trend reshaping financial services. This webinar will discuss the opportunities, challenges, and regulatory considerations of...more
The next installment in McGlinchey’s Deep Dive into Bank Partnerships Series features an overview of depository services, featuring insights from our attorneys Rachael Aspery, Brian Fink, and Aaron Kouhoupt. They explore key...more
In this latest installment of McGlinchey’s Deep Dive into Bank Partnerships Series, attorneys Amy Greenwood-Field, Aaron Kouhoupt, and David Tallman explore the complexities of payment programs involving partnerships between...more
The U.S. Drug Enforcement Agency’s proposal to reschedule cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA) has generated considerable buzz across business sectors, including for the...more
8/28/2024
/ Agribusiness ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Controlled Substances Act ,
Credit Unions ,
DEA ,
Decriminalization of Marijuana ,
Financial Institutions ,
FinCEN ,
Marijuana Related Businesses ,
Popular
On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued notice of a proposed interpretive rule (Rule) that walks back a prior 2020 Advisory Opinion on the manner in which Regulation Z defines “credit.” The...more
Financial institutions have utilized service providers for a multitude of purposes over many years. The use of service providers has not historically been a controversial issue, and financial institutions have always had an...more
The next installment in McGlinchey’s Deep Dive into Bank Partnerships Series features a podcast on lending, presented by attorneys Joe Apatov, Aaron Kouhoupt, and Robert Savoie. Their discussion centers on the evolving...more
Bank partnership programs have grown exponentially in recent years as a collaborative framework for banks and non-depository institutions to offer innovative and unique products to their customers.
Navigating the modern...more
The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult use and medical marijuana unless it’s produced, sold, and...more
5/29/2024
/ Agribusiness ,
Bank Service Providers ,
Controlled Substances Act ,
Decriminalization of Marijuana ,
Department of Justice (DOJ) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Marijuana ,
Marijuana Related Businesses ,
Racketeering
On October 27, 2023, the Federal Trade Commission (FTC) issued a final rule (Final Rule) to amend the Standards for Safeguarding Customer Information (Safeguards Rule). This amendment will require non-bank financial...more
Proponents of marijuana reform have had cause for celebration in 2023. Despite challenges facing the industry, the political and social momentum surrounding cannabis is ticking upward.
Most recently, the marijuana industry...more
10/18/2023
/ Agribusiness ,
Banks ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Credit Unions ,
DEA ,
Decriminalization of Marijuana ,
Financial Institutions ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Insurance Industry ,
Lenders ,
Popular ,
Proposed Legislation ,
Safe Harbors ,
Senate Banking Committee
But upon closer consideration, there is an interplay between a bank partner program and the Electronic Fund Transfer Act (EFTA) as implemented by Regulation E, particularly when it comes to timeframes for disputes, liable...more
9/15/2023
/ Bank Partnership Lending Programs ,
Bank Secrecy Act ,
Board of Governors ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
Non-Bank Lenders ,
Non-Depository Institutions ,
OCC ,
Regulation E ,
Risk Management ,
Third-Party ,
UDAAP
The next item in McGlinchey's Deep Dive into Payments Series is a podcast on money transmission by attorneys Jeff Barringer, Amy Greenwood-Field, and Aaron Kouhoupt. Their discussion centers around the impacts of money...more
8/28/2023
/ Cryptocurrency ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Licensing Rules ,
Money Services Business ,
Money Transmission Act ,
Money Transmitter ,
Payment Processors ,
The Model Law ,
Third-Party
The next item in McGlinchey’s Deep Dive into Payments Series is on money transmission by attorneys Jeff Barringer, Amy Greenwood-Field, and Aaron Kouhoupt. Their discussion centers around the impacts of money transmission...more
8/28/2023
/ Cryptocurrency ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Licensing Rules ,
Money Services Business ,
Money Transmission Act ,
Money Transmitter ,
Payment Processors ,
The Model Law ,
Third-Party
The world of payments has grown exponentially in recent years. The Consumer Financial Protection Bureau (CFPB) has continued its activity around Unfair or Deceptive Acts or Practices (UDAP), fees, and what the CFPB calls dark...more
7/31/2023
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Money Transmitter ,
Payment Processors ,
Payment Systems ,
UDAP ,
Unfair or Deceptive Trade Practices
On February 22, 2023, the United States District Court for the Southern District of New York in Rider v. Uphold HQ Inc. held that cryptocurrencies constitute “funds” under the Electronic Fund Transfer Act (EFTA). The...more
The next installment in McGlinchey’s Deep Dive Series covering all things privacy is a webinar featuring attorneys from McGlinchey’s Financial Institutions Compliance team....more
3/16/2023
/ Banking Sector ,
Banks ,
Consumer Information ,
Consumer Privacy Rights ,
Data Privacy ,
Data Use Policies ,
Data-Sharing ,
Financial Institutions ,
Partnerships ,
Privacy Laws ,
Webinars
As 2022 draws to a close, what better time to revisit our most popular insights of the last year and see what topics have engaged our client industries?
Our attorneys work hard to stay on the cutting edge of industry...more
12/23/2022
/ Blockchain ,
Cannabis-Related Businesses (CRBs) ,
Commercial Bankruptcy ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Decriminalization of Marijuana ,
Digital Assets ,
Financial Institutions ,
Foreclosure ,
Moratorium ,
Trademarks ,
Virtual Currency
The Federal Trade Commission (FTC) has announced that the effective date for the new substantive information security requirements in the revised Safeguard Rule has been extended from December 9, 2022 to June 9, 2023....more
The world of decentralized finance, blockchains, virtual and cryptocurrency have grown exponentially in recent years. Many financial institutions are looking to enter or expand their operations in the digital economy, but the...more
For nearly a decade, financial institutions operating in states with regulated cannabis markets (whether medicinal or recreational) have struggled with their ability to offer banking services to entities legally operating...more