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Troutman Pepper Locke

The GENIUS Act Advances in the Senate

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The U.S. Senate’s proposal to regulate stablecoins, known as the GENIUS Act, has successfully cleared a significant procedural hurdle, moving closer to a full floor debate. On May 19, lawmakers voted to invoke cloture on the...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Locke

FDIC Turns a New Page on Banks’ Engagement in Crypto-Related Activities

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Last Friday, the Federal Deposit Insurance Corporation (FDIC) announced the rescission of Financial Institution Letter (FIL-16-2022) and issued new guidance clarifying the process for FDIC-supervised institutions to engage in...more

Latham & Watkins LLP

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

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

Venable LLP

CFPB Proposes Interpretive Rule Clarifying EFTA Application to Crypto and Other Emerging Payment Mechanisms

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The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule aimed at addressing what it views as ambiguities in the application of the Electronic Fund Transfer Act (EFTA) and its implementing Regulation...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Interpretive Rule on Emerging Payment Mechanisms Under EFTA

On January 2, 2025, the Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule under the Electronic Fund Transfer Act (EFTA) and Regulation E to clarify how emerging payment systems, such as those used in...more

Goodwin

CFPB Proposes to Include Virtual Currency Transactions Under the EFTA

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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

Troutman Pepper Locke

Will Resiliency Carry the Digital Asset Sector Through 2024?

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In 2023, the digital asset industry demonstrated remarkable resilience amidst significant challenges, including the dissolution of several digital asset financial services companies, numerous bank failures, and a $4.7 billion...more

Latham & Watkins LLP

Latham Chairs AI Component of Global Standards Mapping Initiative

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The initiative covers a wide array of insights and guidance for the blockchain ecosystem, while a Latham-led working group explores the convergence of blockchain and AI. ...more

White & Case LLP

CFPB Takes Aim at Major Online Payments Applications for Digital Payments; Spares Crypto Companies

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On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") proposed a new rule, to be codified at 12 C.F.R. § 1090.109, that would bring general-use digital payment processors who process more than five million...more

Jones Day

France Tightens Registration Conditions for Digital Assets Service Providers

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In Short - The Situation: France has had a registration and licensing process for digital assets service providers for over three years. The recent crisis with Terra Luna and FTX trading platform has made it clear to...more

Akerman LLP

Explainer Things: Episode 9

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Fall is finally in the air as temperatures drop (in some parts of the country, at least) and football season is in full swing. We’ve previously avoided writing about football because our Explainer Things cast can’t agree on...more

Troutman Pepper Locke

Current Landscape of Cryptocurrency Regulation and Enforcement - The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our...more

Alston & Bird

Payments Docket - May 2023

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The latest edition of the Payments Docket, our roundup of key litigation involving the payments industry, features fintechs and nonbanks continuing to face regulatory scrutiny, crypto going bankrupt, and banks are paying for...more

Orrick, Herrington & Sutcliffe LLP

Treasury seeks to advance CBDCs

On March 1, Treasury Undersecretary for Domestic Finance Nellie Liang announced that the Treasury Department will lead a new senior-level working group to advance work on a U.S. central bank digital currency (CBDC). ...more

Alston & Bird

Structured Finance Spectrum – February 2023

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features a new year for a new UCC Article 12, a farewell to LIBOR, and an appraisal...more

Orrick, Herrington & Sutcliffe LLP

Illinois announces new consumer protections for digital assets, proposes new money transmitter licensing provisions

On February 21, the Illinois Department of Financial and Professional Regulation (IDFPR) announced several legislative initiatives to establish consumer protections for cryptocurrencies and other digital assets and provide...more

Orrick, Herrington & Sutcliffe LLP

DFPI launches crypto scam tracker

On February 16, the California Department of Financial Protection and Innovation (DFPI) launched a database to help consumers in the state spot and avoid crypto scams. ...more

Shipkevich PLLC

Illinois Proposes Consumer Protection Measures for Cryptocurrencies and Digital Assets

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On February 21, 2023, the Illinois Department of Financial and Professional Regulation (IDFPR) unveiled a Consumer Financial Protection and Innovation Package, consisting of two legislative initiatives that aim to protect...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Fintech

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Fintech industry. So, what happened in 2022?...more

Orrick - On the Chain

CFPB Makes an Entrance: Crypto Products Targeted

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Ending doubts regarding its interest in the space, the Consumer Financial Protection Bureau (CFPB) has for the first time publicly acknowledged its investigation of a crypto company — and it’s likely a sign of things to come....more

Alston & Bird

Payments Docket – September 2022

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The latest edition of the Payments Docket, our roundup of key litigation involving the payment industry, features FinTechs and nonbanks facing regulatory scrutiny, MCA lenders fighting a pair of beastie lawsuits, and a...more

Troutman Pepper Locke

Senators Urge CFPB to Increase Consumer Protection Against Payment App Scams - The Crypto Exchange Podcast

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In this episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss consumer protection under Regulation E and a recent letter...more

Cadwalader, Wickersham & Taft LLP

Cadwalader Corner Q&A: Pete Hahn, Emeritus Professor, The London Institute of Banking and Finance

What do you envision will be the toughest challenge facing bank regulators in the next five years?   Throughout the world, bank consolidation has often resulted in 3-5 dominant national providers. Some may think...more

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