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Jones Day

Senate Passes GENIUS Act, Clearing Hurdle for Federal Stablecoin Framework

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The vote marks the first time the U.S. Senate has passed significant digital asset legislation and puts the industry one step closer to regulatory clarity for certain stablecoins....more

Ankura

Banking Industry Outlook: Potential Surge in Banking Mergers and Acquisitions

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Mergers and acquisitions continue to be a critical strategy for banks aiming to bolster their market presence and operational efficiency. The United States has 4,500+ banks, 4,000+ credit unions, and a large number of...more

Ballard Spahr LLP

CFPB will kill Section 1033 Open Banking Rule

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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

Orrick, Herrington & Sutcliffe LLP

President Trump repeals two CFPB rules

On May 9, President Donald Trump repealed two CFPB rules which were brought under the previous administration. The first action repealed the CFPB’s overdraft lending rule (S. J. Res. 18), which would have capped overdraft...more

Holland & Knight LLP

CFPB Overdraft and Digital Payment Rules Repealed by Trump Administration

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President Donald Trump on May 9, 2025, signed into law measures to eliminate two CFPB rules established under the Biden Administration. The first rule repealed was the CFPB's Overdraft Rule, one aspect of the Biden...more

BakerHostetler

Weekly Blockchain Blog - March 2025 #5

BakerHostetler on

In a recent press release, Custodial Bank and Vantage Bank announced “America’s first bank-issued stablecoin on a permissionless blockchain.” According to the press release, “[t]he banks collaborated on the mint, transfer and...more

Womble Bond Dickinson

Crypto Regulatory Roundup - Q1 2025

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Since President Trump’s inauguration, the crypto industry has been on a tear. And no, this time, we’re not just talking about the price of Bitcoin. In the past two months, Washington D.C. has taken a deliberate interest in...more

Goodwin

What’s Next for Fintechs in 2025? Key Regulatory Developments to Watch

Goodwin on

With the start of the new year comes new regulatory priorities, regulatory challenges, and regulatory opportunities for fintechs. Below, we lay out considerations for 2025 given the change in administration and accompanying...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q3 2024

In this issue of Wilson Sonsini's Focus on Fintech, our attorneys discuss updates and developments from federal regulators, including those related to bank-fintech partnerships, cryptocurrency and virtual currency updates,...more

Alston & Bird

CFPB Finalizes Open Banking Rule on Consumer Financial Data Rights

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Our Financial Services Group unpacks the Consumer Financial Protection Bureau’s final rule on consumer financial data rights under Section 1033 of the Dodd–Frank Act....more

Davis Wright Tremaine LLP

National Trust Banks – Revisited for Crypto and Payments

In the absence of modern charters and licenses, payments companies and other fintechs—both established financial services providers and new market entrants—must generally obtain 50+ money transmitter and possibly other state...more

Woodruff Sawyer

How E&O Insurance Supports Fintech Companies

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Fintech companies face many potential liabilities. I previously discussed their cybersecurity risks. This time, I’ll focus on the operational risks these companies face due to the heavily regulated nature of the financial...more

Jones Day

FDIC Proposes New Requirements for Custodial Accounts to Qualify for Pass-Through

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The Situation: On September 17, 2024, the Federal Deposit Insurance Corporation ("FDIC") approved a proposed rule ("the Proposal") that would establish new recordkeeping requirements for FDIC-insured depository institutions...more

Bradley Arant Boult Cummings LLP

New FDIC Recordkeeping Requirements: Director Chopra Cautions Against a New Form of “Rent-a-Bank”

On September 17, 2024, the Federal Deposit Insurance Corporation (FDIC) rulemaking board proposed new recordkeeping rules intended to bolster the FDIC’s ability to make deposit insurance determinations for accounts that are...more

Troutman Pepper Locke

Where the F(BO) Is the Money? Part 1 – Synapse’s Clarion Call for Standards

Troutman Pepper Locke on

This is the first of three articles focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?...more

Sheppard Mullin Richter & Hampton LLP

Fed Issues Cease and Desist Order for Crypto-Related Compliance and Risk Management Deficiencies

On September 4, the Federal Reserve Board (Fed) released enforcement actions against a Texas-based bank, addressing regulatory violations and compliance lapses. The Fed, joined by the Texas Department of Banking (TDB),...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Why do Fintechs Want to Become Banks?

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A great number of fintechs are contemplating owning a bank or obtaining a banking charter—either a national bank charter, a state bank charter or a special purpose charter. In this episode, we are joined by our special guest...more

Skadden, Arps, Slate, Meagher & Flom LLP

US Banking Agencies Are Ramping Up Scrutiny of Bank-Fintech Partnerships

On July 25, 2024, the U.S. prudential bank regulators released a Joint Statement on Banks’ Arrangements With Third Parties To Deliver Bank Deposit Products and Services (Joint Statement),1 along with a request for information...more

Woodruff Sawyer

The Growing Cyber Risks in Fintech and How to Mitigate Them

Woodruff Sawyer on

The fintech revolution has reshaped the financial world, creating new opportunities to borrow, save, transact, and invest like never before. With no signs of slowing, fintech revenues are projected to grow sixfold from $245...more

Ballard Spahr LLP

OCC Risk Perspective Report Focuses on Third-Party Relationships with Fintechs

Ballard Spahr LLP on

In its Fall 2023 Semiannual Risk Perspective, published on December 7, the Office of the Comptroller of the Currency (“OCC”) reported on key issues facing the federal banking system. In evaluating the overall soundness of...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: Diversity in FinTech - September 5th, 2:00 pm - 3:00 pm EDT

Join us for the next edition of FinTech University as we focus on Diversity in FinTech. This webinar will examine diversity, equity and inclusion efforts within the FinTech industry. Experienced Nelson Mullins attorneys Erin...more

Seward & Kissel LLP

[Webinar] FinTech Forum: Emerging Trends in the Legal and Regulatory Landscape - May 18th, 1:30 pm - 5:30 pm ET

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Seward & Kissel and The Berkeley Center for Law and Business invite you to the inaugural FinTech Forum, which will be held Thursday, May 18, 2023. The event will highlight emerging trends in the legal and regulatory...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: FinTech and International Law - June 6th, 2:00 pm - 3:00 pm EDT

Join us for the next edition of FinTech University as we focus on FinTech and International Law. This webinar will provide an overview of recent developments and the legal framework for companies operating in FinTech -...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q1 2023

In this latest issue of the firm’s Focus on Fintech newsletter, our attorneys discuss the dissolution of Silicon Valley Bank and Signature Bank and the increased scrutiny on banking activity, as well as a number of updates...more

Wilson Sonsini Goodrich & Rosati

Demystifying the Banking Regulators’ Recent Crypto Actions: Key Takeaways for Fintech Companies

The last few years had started to see a convergence between crypto and banking, with bitcoin appearing to rapidly grow mainstream. That momentum hit a wall with the spectacular crypto market failures of 2022, including the...more

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