News & Analysis as of

Consumer Financial Protection Bureau (CFPB) › Regulatory Oversight › Compliance

Orrick, Herrington & Sutcliffe LLP

CFPB obtains fortnight extension to inform the court of its intent to pursue action

Orrick, Herrington & Sutcliffe LLP on

On February 12, the U.S. SDNY granted the CFPB’s request to extend its deadline to explain if the Bureau wishes to continue its litigation efforts. The Bureau filed a letter with the SDNY requesting a two-week extension. The...more

Alston & Bird

CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

Alston & Bird on

What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more

Hinshaw & Culbertson - Consumer Crossroads

CFPB Revises the Supervisory Appeals Process for Financial Institutions

Hinshaw & Culbertson - Consumer Crossroads on

On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) issued its revised rule addressing how financial institutions can appeal their compliance ratings or adverse material findings by the Bureau. The rule is...more

Shipkevich PLLC

CFPB Proposes New Rule with Continued Significant Focus on Payments Space

Shipkevich PLLC on

On November 7, 2023, the Consumer Finance Protection Bureau (“CFPB”) proposed a new rule that calls for federal regulatory oversight of large nonbank companies that offer digital wallets and payment apps to consumers. The...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: Issue 12, December 2022

Spilman Thomas & Battle, PLLC on

US Senators Ask SoFi About Its Banking Law Compliance = “Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Testifies Before Congress

Sheppard Mullin Richter & Hampton LLP on

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

Bradley Arant Boult Cummings LLP

Chambers Global Practice Guide: Fintech 2021 Trends and Developments

Bradley Arant Boult Cummings LLP on

Crisis has set the stage for fintech companies in 2021, creating both new opportunities and potentially unprecedented challenges to innovation. While the coronavirus pandemic continues to accelerate the digital transformation...more

King & Spalding

New York Banks Agree To Conditions For Use Of New Communication Platform

King & Spalding on

On Monday, September 14, 2015, four major banks signed agreements with New York’s Department of Financial Services to regulate their use of a new financial messaging platform provided by Symphony Communication Services...more

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