On August 21, 2025, the Consumer Financial Protection Bureau filed an enforcement action in connection with Chapter 11 bankruptcy proceedings for a fintech (the "Fintech") acting primarily as a third-party service provider...more
8/28/2025
/ Banking Sector ,
Chapter 11 ,
Commercial Bankruptcy ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
FinTech ,
Recordkeeping Requirements ,
Third-Party ,
Third-Party Service Provider ,
Unfair or Deceptive Trade Practices
Fintech is increasingly prevalent in the financial services marketplace, allowing providers to offer myriad innovative products and services that are dramatically changing how consumers can interact with financial service...more