News & Analysis as of

Cryptocurrency Electronic Fund Transfer Act FinTech

DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - January/February 2025

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Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

WilmerHale

CFPB Proposes Significant Expansion in Scope of EFTA and Regulation E

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On January 10, 2025, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed interpretive rule that would expand the Bureau’s consumer protection authority under the Electronic Fund Transfer Act (EFTA) and...more

Morrison & Foerster LLP

Not Just Fun and Games? CFPB Seeks Comments on Proposed Interpretive Rule to Place New Forms of Digital Payments, Including...

On January 15, 2025, days before the start of the Trump administration, the Consumer Financial Protection Bureau (CFPB) published a proposed interpretive rule (Proposed Rule) seeking public comment on how the Electronic Fund...more

Latham & Watkins LLP

CFPB Proposes Extending Electronic Funds Transfer Act Protections to Stablecoin and Gaming Accounts

Latham & Watkins LLP on

The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change....more

Holland & Knight LLP

New Frontiers: CFPB Proposes Extending Consumer Protections to Other Digital Payment Mechanisms

Holland & Knight LLP on

In the waning days of the Biden Administration, the Consumer Financial Protection Bureau (CFPB) on Jan. 10, 2025, issued a proposed interpretive rule that would provide a framework for determining when the Electronic Fund...more

Cooley LLP

CFPB Explores Options for Bringing Digital Payments Providers Under Privacy and Payments Laws

Cooley LLP on

On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) initiated rulemaking processes to examine and create a framework regarding data privacy and consumer protections in the digital payments industry. In a...more

Troutman Pepper Locke

CFPB Renews Attempt to Regulate Crypto by Applying Reg E to Stablecoins and Other Digital Payment Mechanisms

Troutman Pepper Locke on

On January 10, the Consumer Financial Protection Bureau (Bureau) issued a notice of proposed interpretive rule (Proposed Rule). The deadline for comments is March 31, 2025. The Proposed Rule would apply the Electronic Fund...more

Goodwin

CFPB Proposes to Include Virtual Currency Transactions Under the EFTA

Goodwin on

The Consumer Financial Protection Bureau (CFPB) issued a proposed interpretive rule that, if finalized as written, would bring certain virtual currency products and services, such as stablecoins and digital wallets, within...more

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