The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change....more
1/24/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Electronic Fund Transfer Act ,
Financial Institutions ,
FinTech ,
Gaming ,
Online Gaming ,
Proposed Rules ,
Regulation E ,
Stablecoins
A Republican Congress and the incoming Trump administration may employ the CRA to quickly overturn recent rules that faced heavy criticism from the financial services industry....more
1/22/2025
/ Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Digital Assets ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
IRS ,
OCC ,
Open Banking ,
Trump Administration
The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more
10/30/2024
/ Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Open Banking ,
Personal Data ,
Sensitive Personal Information
Remittance service providers would need to update their disclosure statements under a narrowly tailored proposed amendment which aims to resolve issues more efficiently and save consumers time....more
Paycheck advance products that are deemed consumer loans under the CFPB’s new proposal would be subject to increased disclosure and regulatory protections....more
9/6/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Earned Wage Access ,
Financial Services Industry ,
Payday Loans ,
Popular ,
Proposed Standards ,
Public Comment ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Wages
The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions.
On July 30, 2024, the Board of...more
8/9/2024
/ Acquisitions ,
Banking Sector ,
Banks ,
Change in Control ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
NPRM ,
OCC ,
Proposed Amendments ,
Publicly-Traded Companies
The centralized repository would assist the CFPB and law enforcement in detecting patterns of misbehavior and recidivism adversely affecting consumers.
On June 3, 2024, the Consumer Financial Protection Bureau (CFPB)...more
The preliminary injunction was granted pursuant to Fifth Circuit precedent that the CFPB’s independent funding structure is unconstitutional.
On May 10, 2024, the US District Court for the Northern District of Texas...more
The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers.
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a...more
As person-to-person payments become mainstream, the proposal would proactively outlaw fees that financial institutions could assess on instantaneously declined transactions.
On January 24, 2024, the Consumer Financial...more
The proposal would subject certain large non-bank companies offering wallet and payment services to federal regulatory oversight on par with banks and credit unions.
On November 7, 2023, the Consumer Financial Protection...more
The joint statement provides helpful guidance on the civil rights implications of considering an individual’s immigration status under the ECOA.
On October 12, 2023, the Consumer Financial Protection Bureau (CFPB) and...more
The move becomes effective on October 1, 2023, with the Supreme Court soon to decide on the agency’s rule-writing authority.
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule (the...more
The rule requires that lenders collect and report extensive applicant data to the CFPB, intended to deter discrimination and promote economic growth.
On March 30, 2023, the Consumer Financial Protection Bureau (CFPB)...more
The RFIA would define consumer protection standards for digital assets and introduce new requirements regarding digital asset use in interstate money transfers.
Latham & Watkins presents a blog series on the Responsible...more
6/27/2022
/ Blockchain ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cryptocurrency ,
Digital Assets ,
Digital Service Providers ,
Digital Services ,
Disclosure Requirements ,
Financial Services Industry ,
Money Transmitter ,
Proposed Legislation ,
Regulatory Agencies
The agency just revived its dormant authority to supervise nonbank financial entities that it determines pose risk to consumers.
On April 25, 2022, the Consumer Financial Protection Bureau (CFPB) - the US government...more
A new Executive Order could help open the door for the portability of consumer financial data.
Definitive regulation for open banking may be on the horizon in the US. On July 9, 2021, President Biden issued an Executive...more
As third-party access to consumer financial data expands, regulators balance innovation, customer choice, and data protection.
Consumers’ rights to access and use their personal financial information has been a key focus of...more
The three US federal banking agencies continue to take additional steps to promote the functioning of the financial system in the face of the pandemic.
The three US federal banking agencies - the Board of Governors of the...more
4/10/2020
/ Accounting Standards ,
Brokered Deposits ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Counterparty Risk ,
Credit Facilities ,
CSBS ,
Current Expected Credit Losses (CECL) ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Leverage Ratio ,
NCUA ,
OCC ,
Volcker Rule