Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
Changes regarding the future of the Consumer Financial Protection Bureau (CFPB), including both the agency's leadership and its policy priorities, have been rapidly announced by the Trump administration.1 While the consumer...more
Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more
On March 26, the US Court of Appeals for the Fourth Circuit issued a decision that has important ramifications for banks and credit unions that process millions of Automated Clearing House (ACH) and Electronic Funds Transfer...more
Last month, bills were introduced in the House and Senate to overturn the much-maligned CFPB overdraft rule. You can find our previous write-up on the rule here. The rule would redefine “finance charge” under Regulation Z to...more
In an apparent departure from decades of jurisprudence acknowledging the exemption of wire transfers from the ambit of the Electronic Funds Transfer Act (EFTA or the Act), one federal district court recently found that a bank...more
On January 17, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Notice of Proposed Rulemaking regarding proposed changes to overdraft fee rules for certain banks and credit unions. In the widely...more
Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more
On October 27, the Federal Trade Commission (FTC or Commission) published a final rule expanding data breach notification requirements for certain financial institutions (Final Rule). Federal Register, will require entities...more
11/2/2023
/ Banking Sector ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Hackers ,
Personally Identifiable Information ,
Reporting Requirements
On Wednesday, October 11, the White House — joined by the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB or Bureau) — announced new measures aimed at a variety of so-called “junk fees” charged...more
Long gone are the days when a bank or finance company relies simply on a traditional credit score or report to decide whether to make a loan. For some time now, banks and consumer finance companies have sourced data from a...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
On April 3, the Consumer Financial Protection Bureau (CFPB) published its Policy Statement on Abusive Acts or Practices(Policy Statement or Statement). Notably, in connection with the Policy Statement's issuance, the CFPB...more
In June, the Consumer Financial Protection Bureau (CFPB) issued a report (Report) summarizing its research into the use of artificial intelligence (AI) in consumer finance. The Report focused on the shift away from "human...more