News & Analysis as of

Consumer Financial Protection Act (CFPA) Sensitive Personal Information Consumer Financial Protection Bureau (CFPB)

Goodwin

CFPB Dismisses Deposit Account Lawsuit Against National Retailer and Fintech Company

Goodwin on

The Consumer Financial Protection Bureau voluntarily dismissed its lawsuit with prejudice against a major retailer and a fintech company in the District of Minnesota....more

Holland & Knight LLP

Consumer Financial Protection Bureau Proposes New Financial Data Portability, Security Rules

Holland & Knight LLP on

The Consumer Finance Protection Bureau (CFPB) on Oct. 19, 2023, proposed a new Personal Financial Data Rights rule (Proposal) through which it seeks to increase competition in the financial sector. The Proposal was developed...more

Eversheds Sutherland (US) LLP

CFPB previews consumer data portability rule meant to accelerate US open banking adoption

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued an advance notice of proposed rulemaking (ANPR) with respect to a new consumer financial data portability rule mandated by Section 1033 of the...more

Hudson Cook, LLP

CFPB Fines Large National Bank for Withholding Credit Card Rewards, Charging Multiple Non-sufficient Fund Fees, and Opening...

Hudson Cook, LLP on

On July 11, 2023, the CFPB announced two consent orders against a large national bank, settling allegations that the bank illegally charged consumers multiple non-sufficient fund fees for the same transaction, withheld cash...more

Goodwin

CFPB Issues Circular Confirming that Financial Companies May Violate Consumer Financial Protection Law by Failing to Protect...

Goodwin on

In August 2022, the Consumer Financial Protection Bureau (CFPB) published a circular confirming that, under certain circumstances, entities may “violate the prohibition on unfair acts or practices in the Consumer Financial...more

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