News & Analysis as of

Consumer Financial Protection Act (CFPA) Recordkeeping Requirements Commercial Bankruptcy

Goodwin

CFPB Enters a Proposed Agreement with Banking-as-a-Service Platform After Failure to Maintain Records Following Bankruptcy

Goodwin on

The Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against a banking-as-a-service platform on August 21, 2025 in the U.S. Bankruptcy Court for the Central District of California, San Fernando...more

Hudson Cook, LLP

CFPB Files Action against Fintech Bank Partner for Alleged Unfair Practices Related to Record Keeping of Consumer Funds

Hudson Cook, LLP on

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

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