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Big Tech Consumer Financial Protection Bureau (CFPB)

Holland & Knight LLP

CFPB's Overdraft Rule and Big Tech Payment Apps Rule Set for Repeal After Congressional Votes

Holland & Knight LLP on

Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more

Benesch

AI Reporter - July 2024

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The AI sector continues to experience regulatory growing pains. Tech companies are struggling to comply with the EU’s new AI laws, which require more transparency in their model training. Meta, in particular, had to halt its...more

Cozen O'Connor

Cozen Currents: It's Still the Economy, Stupid

Cozen O'Connor on

The Cozen Lens- • As James Carville quipped in 1992, “It’s the economy, stupid.” This likely still holds true for 2024. • Former South Carolina Governor Nikki Haley’s (R-SC) campaign for the GOP presidential nomination...more

Akerman LLP

Explainer Things: Episode 11

Akerman LLP on

Typical legal newsletters might introduce a post-Thanksgiving edition with a line or two about gratitude for readers and clients. We at Explainer Things are certainly thankful for clients and readers alike, but we are far...more

A&O Shearman

The CFPB proposes federal supervision for Big Tech and other digital payment providers

A&O Shearman on

In response to what it sees as the growing influence of ‘Big Tech’ and other large technology companies in consumer financial markets, the Consumer Financial Protection Bureau (CFPB) has introduced a proposed rule to...more

BCLP

CFPB Proposes to Level the Playing Field With “Big Tech”

BCLP on

In an effort it describes as intended to help “level the playing field” between banks and nonbank consumer financial service providers that are sometimes characterized as “Big Tech”, the Consumer Financial Protection Bureau...more

Cadwalader, Wickersham & Taft LLP

CFPB Takes on Big Tech in Larger Participant Rulemaking on Digital Wallets and Payment Apps

On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) announced a new proposed rule wherein providers of digital wallets and payment apps would be defined as “Larger Participants” and would become subject to...more

Hudson Cook, LLP

CFPB Bites of the Month - September 2023 - Harvesting the Latest Compliance Crop

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In this month's article, we share some of our top "bites" for the prior month covered during the September 2023 webinar. Bite 1: Update on Federal Student Loan Borrowers - On September 5, 2023, the CFPB reminded...more

Wiley Rein LLP

Wiley Consumer Protection Download (September 11, 2023)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Goodwin

CFPB and Justice and Consumer Protection of the European Commission Announce Plans for an “Informal Dialogue”

Goodwin on

On July 17, 2023, Didier Reynders, Commissioner for Justice and Consumer Protection of the European Commission and Rohit Chopra, Director of the Consumer Financial Protection Bureau, announced the start of an “informal...more

Akerman LLP

Explainer Things: Episode 6

Akerman LLP on

♫"Summertime and the living is easy"♫ or at least we hope it is for our growing readership. Our Explainer Things team is spicing up your consumer finance news with pop culture – Dua Lipa, The Big Lebowski, The Police, and The...more

Cozen O'Connor

State AGs, Federal Regulators Gather to Discuss Tech Competition, ESG, Privacy, and More

Cozen O'Connor on

Last week, the National Association of Attorneys General (NAAG) held its annual Capital Forum in Washington, DC, which provided AGs, AG staff, and private sector attendees the opportunity to engage with each other as well as...more

Cozen O'Connor

The State AG Report – 12.8.2022

Cozen O'Connor on

Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG James Inks Deal with Home Healthcare...more

Hudson Cook, LLP

CFPB Bites of the Month - Carving Up the CFPB

Hudson Cook, LLP on

In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the November 16, 2022 webinar. So, what happened last month? Extra Bite: CFPB Releases Report on Tenant Background...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 14, 2022)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Cozen O'Connor

Cozen Currents: Do Election Polls Matter Anymore?

Cozen O'Connor on

The Cozen Lens- •Everyone loves to hate polls, and with some good reason. But as the midterms near, they provide an important, yet limited, tool for gauging the election....more

Fox Rothschild LLP

Digital Marketing Firms Are Subject to Consumer Financial Protection Act, CFPB Says

Fox Rothschild LLP on

Digital marketing firms that help financial companies design and place online ad campaigns are service providers for the purpose of the Consumer Financial Protection Act of 2010, the Consumer Financial Protection Bureau said...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Round up of Q2 updates coming out of the CFPB

Take-aways From Director Chopra’s Semi-Annual Report to Congress - On April 6, 2022, the Consumer Financial Protection Bureau (CFPB) issued its semi-annual report to Congress required under Dodd-Frank....more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Testifies Before Congress

This week, CFPB Director, Rohit Chopra, appeared before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Committee on Financial Services in conjunction with the CFPB’s submission of its...more

Eversheds Sutherland (US) LLP

Focus on Fintech: CFPB Probes Big Tech Plans for Payments

On October 21, 2021, the CFPB sent orders to Amazon, Apple, Facebook, Google, PayPal, and Square requiring them to provide information about their current and planned payments products, practices, and data collection and...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Senate Debates Bill Aimed at Online Marketplaces and App Stores

In line with the CFPB’s and FTC’s recent scrutiny of big tech companies, Senator Amy Klobuchar (D-MN) introduced the American Innovation and Choice Online Act (AICO Act) on October 18, 2021. The bill is co-sponsored by Sen....more

Cozen O'Connor

The State AG Report - Volume 8, Issue 1 | January 6, 2022

Cozen O'Connor on

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Show Me the Money: Attorneys General Urge CFPB...more

Cozen O'Connor

Show Me the Money: Attorneys General Urge CFPB on Complaints About Money-Sharing Platforms, Apps

Cozen O'Connor on

On December 20, 2021, a bipartisan group of 33 AGs, led by Idaho AG Lawrence Wasden and Oregon AG Ellen Rosenblum, sent a letter to the Director of the CFPB in response to the CFPB’s Request for Comments on its inquiry into...more

Arnall Golden Gregory LLP

Government Investigations Team Insights - December 2021

AGG’s Government Investigations Team Insights provides periodic updates covering legal and regulatory topics.  In this edition, we discuss recent criticism of the Justice Department’s use of “taint teams” to review...more

Arnall Golden Gregory LLP

The FTC and CFPB Target Big Tech, While the Chamber of Commerce Pushes Back

The first full year of the Biden Administration has seen an overhaul of the leadership of executive agencies, coupled with an intense focus on how big business affects the United States economy. ...more

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