News & Analysis as of

Banking Sector Disclosure Requirements Federal Trade Commission (FTC)

Orrick, Herrington & Sutcliffe LLP

FDIC fines bank $650K for alleged unfair and deceptive acts

On January 31, the FDIC publicly announced its order for a bank in Sandy, Utah, to pay a civil money penalty of $650,000 due to allegations of deceptive acts and unfair practices. ...more

Holland & Hart LLP

Open Banking Rules are Finally Here: What's Next for the Financial Services Industry

Holland & Hart LLP on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued its long-anticipated Open Banking Rule (the Open Banking Rule) under Section 1033 of the Dodd-Frank Act, fundamentally reshaping the data-sharing...more

Mintz - ML Strategies

2024 Pre-Election Analysis: Financial Services

Mintz - ML Strategies on

Financial services encompass a wide range of services offered by the nation’s financial institutions, including banking, mortgage, investment, and credit services. The next administration and Congress’s financial services...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Spring 2023

Changing CEOs is one of the most critical decisions any board faces. In this issue of The Informed Board, we offer tips on how to avoid the mistakes we most often see. We also explain the problems companies could face if the...more

BCLP

2023 Off & Running in Different ESG Directions?

BCLP on

Just over a month into 2023, we are poised for friction between the Biden Administration’s ESG strategy efforts and those of certain Congressional leaders now in the majority. A variety of proposed rules and legislation...more

Goodwin

SBA and Treasury Department Issue New Guidance on PPP

Goodwin on

In this Issue. The Office of the Comptroller of the Currency (OCC) issued guidance on its authority to charter limited purpose trust companies, raising the possibility that a limited purpose national bank could be organized...more

Goodwin

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

Ballard Spahr LLP

FTC Obtains $1.3 Billion Judgment Against Individual Who Operated Payday Lenders

Ballard Spahr LLP on

The Federal Trade Commission (FTC) has obtained a $1.3 billion judgment against the individual operator of several payday lenders and related servicing and marketing companies in a lawsuit filed in a Nevada federal district...more

Ballard Spahr LLP

CFPB participates in FTC workshop on disclosure

Ballard Spahr LLP on

The FTC recently held a workshop, “Putting Disclosures to the Test,” to explore the question of what should be done to make disclosures effective.  The workshop included reports on numerous studies related to consumer...more

Ballard Spahr LLP

To (Dis)Close for Comfort–FTC Workshop Seeks Effective Consumer Disclosures

Ballard Spahr LLP on

A goal of providing effective disclosures to consumers is to allow consumers to make informed decisions. But what must be done to make disclosures effective? This was the question the Federal Trade Commission (FTC) explored...more

Davis Wright Tremaine LLP

Advertising and Issuing Credit Online

DWT’s Payments Team participated in the ABA Consumer Financial Services Committee’s Winter Meeting in Park City, Utah last week. Andrew Owens delivered a presentation on advertising and issuing credit online during the...more

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