News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act › Today's Popular Updates › Financial Institutions

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Ballard Spahr LLP

CFPB will kill Section 1033 Open Banking Rule

Ballard Spahr LLP on

The CFPB is planning to repeal its Section 1033 Open Banking Rule, according to a filing in a federal lawsuit challenging the rule. On the same day the Final Rule was issued, the Banking Policy Institute (BPI) and Kentucky...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

CFPB Finalizes Open Banking Rule to Boost Competition, Protect Privacy, and Enhance Consumer Choice

Hinshaw & Culbertson - Privacy, Cyber & AI... on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited Final Rule implementing Section 1033 of the Dodd-Frank Act ("Final Rule") with the intention of giving consumers greater rights,...more

Husch Blackwell LLP

CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets

Husch Blackwell LLP on

On November 13, the Consumer Financial Protection Bureau (CFPB) released a report on matched-pair testing in small business lending, highlighting potential racial discrimination. The study reveals that Black small business...more

Davis Wright Tremaine LLP

Opportunity Knocks – Litigating Financial Regulation in a Second Trump Administration

Davis Wright Tremaine LLP on

During the Biden-Harris Administration, the relationship between financial institutions and their regulators chilled considerably. The financial services industry works daily with its regulators—especially through the...more

DLA Piper

US: CFPB Finalizes Open Banking Rule Under Section 1033: Key Takeaways for Accessing Consumer Financial Data

DLA Piper on

Overview - On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized its long-anticipated “Personal Financial Data Rights” rule (and Executive Summary) – more commonly known as the “Open Banking” rule –...more

Mayer Brown

CFPB Finalizes Long-Awaited Rule to Accelerate Open Banking Development; Immediately Sued

Mayer Brown on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rulemaking on Personal Financial Data Rights (the “Final Rule”). The Final Rule is intended to accelerate a shift towards open banking in the...more

Wilson Sonsini Goodrich & Rosati

CFPB Releases Final Open Banking Rules: Key Takeaways for Fintech Companies

Wilson Sonsini Goodrich & Rosati on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited final rule on “Personal Financial Data Rights” (the Final Rule). The Final Rule implements Section 1033 of the Dodd-Frank Act,...more

Ballard Spahr LLP

CFPB Finalizes Open Banking Rule

Ballard Spahr LLP on

On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final rule implementing Section 1033 of the Dodd-Frank Act (the “Final Rule” or the “Open Banking Rule”), granting consumers greater access...more

Husch Blackwell LLP

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

Husch Blackwell LLP on

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

Akerman LLP

CFPB Finalizes Open Banking (Section 1033) Rule

Akerman LLP on

On October 22nd, the Consumer Financial Protection Bureau ("CFPB") issued its final open banking rule, which implements section 1033 of the Dodd Frank Act ("Final Rule"). The Final Rule requires data providers, which includes...more

Ballard Spahr LLP

Are Whistleblower Protection Violations the New SEC Sweep?

Ballard Spahr LLP on

The Securities and Exchange Commission (SEC) continues to investigate companies for including language in their employment and separation agreements or retail client settlement agreements that potentially discourages...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 29, 2021)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

A&O Shearman

SEC Enforcement In FY 2021 Included Significant Actions In Traditional And Emerging Areas And Over $1 Billion In Whistleblower...

A&O Shearman on

On November 18, the U.S. Securities and Exchange Commission (“SEC”) announced its enforcement results for the 2021 fiscal year, which ended on September 30, 2021.  The SEC reported that it filed 434 new enforcement actions in...more

Cooley LLP

Alert: CFPB Publishes Proposed Rule for Data Collection on Small Business Lending

Cooley LLP on

On September 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPRM) requesting public comment on its proposed rule to implement Section 1071 of the Dodd-Frank Wall Street Reform...more

Skadden, Arps, Slate, Meagher & Flom LLP

New UDAAP Guidance Is Relevant to OCC-Regulated and Nonregulated Institutions Alike

Skadden, Arps, Slate, Meagher & Flom LLP on

In late June 2020, the Office of the Comptroller of the Currency issued a new booklet on “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” (the UDAAP booklet), setting forth a...more

Goodwin

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

Goodwin on

In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2020

Nutter McClennen & Fish LLP on

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Latham & Watkins LLP

The Systemic Importance of Cloud-Based Service Providers to Banks

Latham & Watkins LLP on

US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities. In an August 22, 2019, letter addressed to Treasury Secretary Steven Mnuchin, in his...more

Morrison & Foerster LLP

Amendments to Volcker Rule Regulations

Morrison & Foerster LLP on

On August 20, 2019, the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) approved a final rule (the “2019 Final Rule”) to amend the rules implementing Section 13 of the...more

Perkins Coie

FinTech in Review

Perkins Coie on

The effective date of the new same-day Automated Clearing House (“ACH”) processing window (which would expand the end-of-day deadline to originate same-day transactions by two hours to 4:45 p.m. ET (1:45 p.m. PT)) has been...more

Jones Day

President Trump Signs the First Major Financial Services Deregulation Law in a Decade

Jones Day on

President Trump has signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act ("Act"), with the principal goals of promoting U.S. economic growth, recalibrating burdensome rules, and strengthening...more

Robinson+Cole Data Privacy + Security Insider

Opening a Bank Account with a Smartphone—Dodd-Frank Roll-Back Making Online Banking Easier

Robinson+Cole Data Privacy + Security Insider on

President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more

Ballard Spahr LLP

President Trump signs banking bill providing Dodd-Frank relief

Ballard Spahr LLP on

Thursday afternoon, President Trump signed the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act) into law. The Act was passed by the House on Tuesday by a vote of 258 to 159 and by the Senate on March...more

Kilpatrick

What the Senate’s Passage of the Economic Growth, Regulatory Relief and Consumer Protection Act Could Mean for Fintech

Kilpatrick on

On March 14, 2018, the United States Senate passed the most significant piece of regulatory reform legislation for community financial institutions in nearly a decade. The Economic Growth, Regulatory Relief and Consumer...more

Sheppard Mullin Richter & Hampton LLP

The Numbers Don’t Lie: The SEC Pursues a More Streamlined Enforcement Agenda

Sheppard Mullin Richter & Hampton LLP on

One of the most eye-catching items in the recently released 2017 Annual Report of the Enforcement Division of the Securities and Exchange Commission (SEC or the Commission) is the significant decline in enforcement activity...more

47 Results
 / 
View per page
Page: of 2
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide