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Data Collection FinTech Banking Sector

Bradley Arant Boult Cummings LLP

A New Rule Embraces Modernity in the Customer Identification Process

Financial institutions across the United States have grappled with compliance requirements under the Customer Identification Program (CIP) Rule for more than two decades. A new exemption, approved in June 2025, promises...more

Orrick, Herrington & Sutcliffe LLP

District court allows fintech association to intervene in stayed case

On May 14, the U.S. District Court for the Eastern District of Kentucky granted a fintech trade organization’s motion to intervene in a case involving a bank plaintiff who sued the CFPB. The court ruled that the association...more

ArentFox Schiff

New Federal Regulation of Financial Data: CFPB Issues Long-Awaited Notice of Proposed Rulemaking

ArentFox Schiff on

The Consumer Financial Protection Bureau (Bureau or CFPB) has recently issued a formal proposal for a national regulatory standard governing companies’ handling of consumer data and their privacy rights with respect to...more

Nutter McClennen & Fish LLP

Fintech in Brief: Interagency Statement on the Use of Alternative Data in Credit Underwriting

On December 3, 2019, the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union...more

BCLP

What is Open Banking, and What are its Implications?

BCLP on

This post is the first in a series discussing open banking, its implementations, and its implications. “Open banking” is a phrase that has been coined to capture a current theme in financial sector innovation – one that...more

Carlton Fields

Fintech Firm Shut Down and Fined by the FTC

Carlton Fields on

A financial technology firm and its CEO have agreed to pay $104 million to resolve the FTC’s allegation that they misled consumers into providing sensitive personal and financial information, which was later sold without...more

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