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Consumer Financial Protection Bureau (CFPB) Depository Institutions Financial Institutions

Troutman Pepper Locke

CFPB Backs Chapter 7 Conversion in Synapse Financial Technologies Bankruptcy

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On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather...more

Goodwin

Shifting Priorities: Bureau Memorandum Provides Insight into New Era for CFPB

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The first 100 days of the Trump administration have included dramatic changes at the Consumer Financial Protection Bureau. The agency has retreated from many of its enforcement litigations, initiated reductions in force...more

Stinson LLP

CFPB and OCC Signal Strategic Shifts in Supervision and Enforcement

Stinson LLP on

In April 2025, both the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) announced significant changes to their supervisory and enforcement approaches, signaling a shift in...more

Goodwin

2024 Year in Review: Fintech

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Financial technology — or fintech — companies will continue to receive increased regulatory scrutiny in 2025. The latter half of 2024 saw a rise in regulatory guidance and enforcement activity relating to fintechs and the...more

Troutman Pepper Locke

Deposit Account Litigation: Highlights From 2024 and What to Expect in 2025 — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Mary Zinsner and Heryka Knoespel, partners in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss the latest in deposit...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Orrick, Herrington & Sutcliffe LLP

Banking OIG reports CFPB’s oversight transition process is lacking

On December 2, the OIG for the Fed and the CFPB published a report criticizing the CFPB’s Office of Supervision Examinations’ process of onboarding depository institutions that transition to its oversight. The report...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Finalizes Rule To Subject Large Payment Apps to Direct Supervision

On November 21, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule that deems payment app providers “larger participants” subject to the agency’s direct supervision (Rule)....more

Alston & Bird

CFPB Finalizes Open Banking Rule on Consumer Financial Data Rights

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Our Financial Services Group unpacks the Consumer Financial Protection Bureau’s final rule on consumer financial data rights under Section 1033 of the Dodd–Frank Act....more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2024

The CFPB has approved a final rule that requires banks and certain other financial services providers to share a consumer’s personal financial data with another provider at the consumer’s request. The CFPB’s Personal...more

Latham & Watkins LLP

CFPB Finalizes Open Banking Rule

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The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 49: CFPB’s 1033 Rule: Where to From Here?

Orrick Partner John Coleman joins the RegFi podcast for a conversation about what lies ahead for the CFPB’s finalized 1033 rule, including uncertainties created by litigation challenges, election results and the need for...more

Cozen O'Connor

CFPB Finalizes Personal Financial Data Rights Rule

Cozen O'Connor on

The CFPB has finalized a rule promoting a shift toward open and decentralized banking by requiring depository and nondepository entities to make certain data relating to consumers’ transactions and accounts available to...more

Husch Blackwell LLP

Open Banking Is Here: An Overview of Section 1033 of the Dodd-Frank Act

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In a move that has been a long time in the making, the Consumer Financial Protection Bureau (CFPB) has finalized its comprehensive open banking rule. The rule implements Section 1033 of the Dodd-Frank Act and grants consumers...more

Latham & Watkins LLP

FDIC Proposes Amendments to Its Change in Bank Control Act Regulations

Latham & Watkins LLP on

The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions. On July 30, 2024, the Board of...more

Morgan Lewis

CFPB Finalizes New Rule to Monitor Nonbank ‘Repeat Offenders’

Morgan Lewis on

The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state,...more

Cozen O'Connor

Cozen Currents: The State of the Economy is [FILL IN THE BLANK]

Cozen O'Connor on

The Cozen Lens- •The state of the economy is unclear, with conflicting indicators of where it is heading. But this uncertainty isn't stopping Washington, DC from defining the economy for partisan gains. •With regional banks...more

Goodwin

The U.S. Government Takes Action on the Silicon Valley Bank and Signature Bank Failures

Goodwin on

Regulatory Developments - The U.S. Government Takes Action on the Silicon Valley Bank and Signature Bank Failures - On March 12, the FDIC, the Federal Reserve, and the U.S. Treasury Department announced that the U.S....more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 2

House Takes Its Sixth Hit on Cannabis Banking Provisions - "The House passed provisions for the sixth time that would allow cannabis companies to access the banking system, but the latest action, as an amendment to the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2022

Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more

Goodwin

OCC Reconsiders Controversial Revisions to CRA Rules

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it will reconsider its controversial June 2020 final rule revising its Community Reinvestment Act (CRA) rules, and published its Semiannual...more

Goodwin

Treasury Rolls Out Emergency Capital Investment Program

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In this Issue. The U.S. Department of the Treasury announced that it was opening the application process for the Emergency Capital Investment Program, a new program designed to provide long-term, low-cost equity and...more

Goodwin

OCC Finalizes “True Lender” Rule

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

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In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Ballard Spahr LLP

CFPB Issues No-Action Letter Template For Small-Dollar Loan Products Offered By Depository Institutions And Credit Unions

Ballard Spahr LLP on

In the aftermath of a statement from the CFPB and the four federal banking agencies encouraging small-dollar lending in response to the COVID-19 pandemic and guidance from the four federal banking agencies on “Interagency...more

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