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Enforcement Actions Risk Management Consumer Financial Products

Ankura

The Regulatory Roadmap for Third-Party Compliance in Financial Services

Ankura on

In the rapidly evolving financial ecosystem, financial institutions (FIs) increasingly rely on third parties, including Fintech companies, Banking-as-a-Service (BaaS) providers, and other financial service entities—to expand...more

A&O Shearman

FCA statement on motor finance review next steps

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published a statement informing firms, consumers and stakeholders of next steps in its review of the past use of motor finance discretionary commission arrangements. The Court...more

Hogan Lovells

Good job, but keep going: UK FCA’s review of vulnerable customer treatment

Hogan Lovells on

During 2024, the Financial Conduct Authority (FCA) carried out a review of firms’ treatment of customers in vulnerable circumstances. After a lengthy and detailed review, the FCA published its findings on how firms support...more

DLA Piper

Advertising for Risky Investment Services on the Sidelines

DLA Piper on

The commitment of partners to the Paris 2024 Olympic and Paralympic Games of up to EUR1.2 billion shows the enthusiasm of brands for sports sponsorship. Besides the association of values, the involvement of employees or the...more

Ballard Spahr LLP

Patriot Bank Enters Agreement with OCC to Address Regulatory Concerns

Ballard Spahr LLP on

On February 20, 2025, the Office of the Comptroller of the Currency (“OCC”) announced that they had entered into a formal agreement with Patriot Bank, National Association (“Patriot Bank”), following a comprehensive...more

Hudson Cook, LLP

CFPB Bites of the Month - 2024 Annual Review - Fintech

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2024 applicable to companies in FinTech. The Consumer Financial Protection Bureau was on a tear in the months leading up to the election and the inauguration of...more

Orrick, Herrington & Sutcliffe LLP

CFPB discusses repossessions in auto finance

On January 23, the CFPB published a report titled, “Repossession in Auto Finance,” which discussed auto loan repossession trends, drawing on data from a pilot program that started in February 2023. The report revealed...more

A&O Shearman

New UK Financial Conduct Authority webpages on consumer redress liabilities

A&O Shearman on

The U.K. Financial Conduct Authority has published two new webpages relating to consumer redress liabilities. The first webpage provides an update for firms on what they should and should not do to tackle polluting behavior...more

Troutman Pepper Locke

FDIC Announces Two More Consent Orders Containing Third-Party Risk Management and Fintech Partnership Orders

Troutman Pepper Locke on

On March 29, the Federal Deposit Insurance Corporation (FDIC) announced two more consent orders containing provisions relating to banks’ third-party risk management programs with respect to banking as a service (BaaS)...more

Wiley Rein LLP

Wiley Consumer Protection Download (June 7, 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

The Volkov Law Group

The Long Road Back to Redemption: Wells Fargo’s Path to Remediation (Part II of II)

The Volkov Law Group on

Wells Fargo’s ability to grow its business is on hold for a year while it designs and implements a remediation program to address deficiencies in its board governance, risk management and compliance program. ...more

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