On April 16, 2025, Mark Paoletta, Chief Legal Officer of the Consumer Financial Protection Bureau (CFPB or the Bureau), issued an internal memorandum to CFPB staff outlining the agency’s supervision and enforcement priorities...more
On Thursday, March 13, 2025, New York Attorney General (“NYAG”) Letitia James advanced newly proposed legislation to better protect consumers and small businesses from unfair, deceptive, and abusive practices (“UDAP”). This...more
The Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) has recently made headlines in the past month under the Trump administration due to an extensive freeze on its core functions, headquarters closure, the...more
On February 19, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced that most reporting companies under the Corporate Transparency Act (“CTA”) must now submit their Beneficial Ownership Information (“BOI”)...more
On February 24, 2025, California Assemblymember Avelino Valencia (D-Anaheim) introduced Assembly Bill (AB) 1166, which seeks to amend and expand the state’s existing Fair Debt Settlement Practices Act (the “Act”) to include...more
The ink is barely dry on the California Department of Financial Protection and Innovation’s (“DFPI” or the “Department”) newly approved regulation package PRO 01-21, and DFPI has already begun to take steps to implement...more
10/30/2024
/ California ,
California Consumer Financial Protection Law (CCFPL) ,
Comment Period ,
Consumer Financial Products ,
Department of Financial Protection and Innovation (DFPI) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
New Regulations ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements
The Federal Trade Commission (FTC) issued a new Final Rule (the “Rule”) on Wednesday, August 14, 2024, targeting unfair and deceptive acts or practices specifically related to consumer reviews and testimonials, allowing the...more
8/19/2024
/ Artificial Intelligence ,
Civil Monetary Penalty ,
Compliance ,
Endorsements ,
Fake Reviews ,
False Advertising ,
Federal Trade Commission (FTC) ,
Misleading Statements ,
New Rules ,
Online Reviews ,
Regulatory Agenda ,
Social Media ,
Testimonial Statements ,
Transparency ,
Unfair or Deceptive Trade Practices ,
User-Generated Content
In a continuing trend across U.S. states, Vermont and Pennsylvania have shown their intent to establish more oversight over the digital currency sector. New legislative amendments to Vermont’s financial services laws include...more
In two landmark decisions during the last week of June 2024, SEC v. Jarkesy et al. (“Jarkesy”) and Loper Bright Enterprises et al. v. Raimondo (“Loper”), the Supreme Court has shown its intent to intensify its scrutiny over...more
The CFPB has issued a final rule to provide transparency and track certain covered nonbank offenders. On June 3, 2024, the CFPB introduced a significant regulatory measure known as the Registry of Nonbank Covered Persons...more
6/10/2024
/ Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Dodd-Frank ,
Final Rules ,
Financial Services Industry ,
Non-Bank Lenders ,
Registration Requirement ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Repeat Violations ,
Reporting Requirements