New Treasury Report Shows Fintech Industry Requires Additional Oversight To Close Gaps, Prevent Abuses, and Protect Consumers -
On November 16, 2022, the U.S. Department of the Treasury (USDT), in consultation with the...more
12/15/2022
/ Appeals ,
Competition ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Credit Reports ,
Data-Sharing ,
Fees ,
FinTech ,
Non-Bank Lenders ,
OCC ,
Regulation Z ,
U.S. Treasury
Federal Financial Regulators Seek Information on the Use of AI by Financial Institutions -
On March 29, 2021, five federal financial regulatory agencies (the Federal Reserve, CFPB, FDIC, OCC, and NCUA) announced a request...more
4/9/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
CSBS ,
Cybersecurity ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Agencies ,
FinTech ,
Gramm-Leach-Blilely Act ,
National Futures Association ,
NCUA ,
OCC
Visa and Mastercard Delay Hike to Interchange Fees—US and UK Developments Visa and Mastercard announced on March 16 that they have postponed the scheduled plan to boost interchange fees, i.e., fees that U.S. merchants pay...more
UK Set to Move Forward on BNPL Regulation -
The United Kingdom Financial Conduct Authority (FCA) recently issued a report on the market conditions for buy-now pay-later (BNPL) unsecured lending. The report recommends...more
2/10/2021
/ Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
ECOA ,
EU ,
Fair Access to Credit ,
Fair Housing Act (FHA) ,
Fair Lending ,
Federal Reserve ,
Financial Services Industry ,
FinTech ,
HUD ,
OCC ,
Proposed Rules ,
UK
House Financial Services Committee Sets Fintech Priorities for a New Administration -
House Financial Services Committee Chairwoman Maxine Waters sent a letter to the incoming administration with nearly 50 pages of...more
12/16/2020
/ Artificial Intelligence ,
Banking Sector ,
Capital One ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Credit Cards ,
Electronic Payment Transactions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Mobile Banking ,
No-Action Letters
COVID-19’s effect on the economy does not discriminate. Business activity has slowed down significantly for many companies, and even more drastically in certain sectors. Some of the industries that have been hit the hardest...more
5/31/2020
/ Brick-and-Mortar Stores ,
Coronavirus/COVID-19 ,
Credit Cards ,
E-Commerce ,
Entertainment Industry ,
Financial Services Industry ,
Hospitality Industry ,
Merchants ,
Movie Theaters ,
Required Documentation ,
Reserve ,
Retailers ,
Travel