When regulators propose a new rule, financial institutions can often find themselves pushed into a reactionary position, left to deal with consequences that rule makers may not have foreseen. Once a rule hits the books, legal...more
We are just a couple of months into 2025, and cannabis reform is already poised to massively impact the financial services industry. The changes we might see this year are expected to address longstanding challenges - and...more
On May 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule identifying Buy Now, Pay Later Lenders (BNPL Lenders or Lenders) as “card issuers” or “creditors” for the purposes of Regulation Z,...more
Congratulations! Your money service business (MSB) has gone through the grueling process of building out all business functions, writing and implementing policies and procedures, and acquiring licenses for your covered...more
On September 30, 2022, FinCEN published the Ultimate Beneficial Ownership (UBO) Reporting Rule (the Rule), which implements reporting requirements regarding Beneficial Ownership Information (BOI) under the Corporate...more
6/7/2024
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