Risk Trend -
This risk alert highlights a recent trend of criminals using fraudulent wire transfer schemes to target financial institutions and the steps that clients can take to mitigate this increasing risk. We have...more
On October 27, 2023, the Federal Trade Commission (the “FTC”) adopted a final rule (“Final Rule”) to amend the Standards for Safeguarding Customer Information (the “Safeguards Rule”). Among other things, the Final Rule will...more
11/13/2023
/ Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Federal Register ,
Federal Trade Commission (FTC) ,
Final Rules ,
FinTech ,
Gramm-Leach-Blilely Act ,
Investment Adviser ,
Notice of Proposed Rulemaking (NOPR) ,
Notification Requirements ,
Policies and Procedures ,
Proposed Rules ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC)
The Federal Deposit Insurance Corporation (FDIC) announced today a 45-Day extension to the public comment period for proposed changes to its regulations that may significantly affect banks, broker-dealers, and FinTechs. The...more
The Federal Deposit Insurance Corporation (“FDIC”) published for comment in December 2022 a notice of proposed rulemaking (12 CFR Part 328) (“Proposed Rule”) that would apply to all FDIC-insured institutions and impose new...more
1/19/2023
/ Banks ,
Broker-Dealer ,
Deposit Insurance ,
Disclosure Requirements ,
FDI Act ,
FDIC ,
Financial Institutions ,
FinTech ,
Non-Bank Lenders ,
Notice of Proposed Rulemaking (NOPR) ,
Pass-Through Entities ,
Proposed Rules ,
Regulatory Requirements
On October 27, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced a new regulatory framework (“Framework”) governing “Personal Financial Data Rights,” or, by another name, “open banking.” Conceptually, open...more
11/18/2022
/ Application Programming Interface (APIs) ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Data Security ,
Financial Institutions ,
Financial Products ,
Financial Services Industry ,
FinTech ,
New Regulations ,
Open Banking ,
Rulemaking Process ,
SBA ,
SBREFA
Introduction -
On May 17, 2022, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) adopted a final rule (“Rule”) setting forth its procedures for investigating and enforcing false advertising,...more
6/16/2022
/ Banking Sector ,
Banks ,
Broker-Dealer ,
Consumer Financial Products ,
Deposit Insurance ,
Digital Currency ,
Enforcement Guidance ,
False Advertising ,
FDIC ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Government Investigations ,
Misleading Statements ,
New Guidance ,
Stablecoins