News & Analysis as of

FinTech Government Accountability Office

Orrick, Herrington & Sutcliffe LLP

GAO pens letter to OCC’s Hood on outstanding recommendations

On May 15, the GAO penned a letter to the Acting Comptroller of the Currency, Rodney E. Hood, highlighting areas it believes warrant the OCC’s focus. First, the GAO recommended that the OCC establish policies and procedures...more

Paul Hastings LLP

PHFintech: Crypto Policy Tracker - November 22, 2024

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In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more

Orrick, Herrington & Sutcliffe LLP

GAO calls for the FDIC to address outstanding recommendations

On April 30, GAO sent a letter to the FDIC on its outstanding recommendations, emphasizing the importance of two priority recommendations, which pertained to blockchain technology and fintech. Regarding blockchain technology,...more

Goodwin

2023 Year in Review: Fintech

Goodwin on

Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more

Hudson Cook, LLP

Government Accountability Office Annual Report Weighs Benefits and Risks of Consumer Fintech Products

Hudson Cook, LLP on

Fintech is increasingly prevalent in the financial services marketplace, allowing providers to offer myriad innovative products and services that are dramatically changing how consumers can interact with financial service...more

Ballard Spahr LLP

GAO issues report on fintech products; recommends CFPB clarify when earned wage access products are “credit” under Truth in...

Ballard Spahr LLP on

The Government Accountability Office (GAO) has issued a new report entitled “Financial Technology: Products Have Benefits and Risks to Underserved Consumers, and Regulatory Clarity Is Needed.”...more

Fox Rothschild LLP

GAO Recommends Updating Gramm-Leach-Bliley Act Privacy Notice

Fox Rothschild LLP on

The General Accounting Office believes that the Gramm-Leach-Bliley Act (GLBA) model form privacy notice gives a limited view of what information is collected and with whom it is shared and that a reassessment of the form is...more

White & Case LLP

Consumer financial services: The road ahead: Mortgage origination and servicing

White & Case LLP on

In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

Morrison & Foerster LLP

Financial Services Report – Summer 2018

BELTWAY - The Wayback Machine - Congress passed, and on May 24, 2018, the president signed into law, the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155). The law makes significant changes to...more

Orrick - Finance 20/20

GAO Report Finds Regulators Could Take Further Steps to Better Protect Fintech Consumers

Orrick - Finance 20/20 on

In a report released March 22, 2018, the U.S. Government Accountability Office (“GAO“) explained that existing laws and regulations may not be adequate to mitigate the risks posed by the increasingly widespread usage of...more

PilieroMazza PLLC

Weekly Update Newsletter - October 2017 #3

PilieroMazza PLLC on

CAPITOL HILL - House Small Business Committee letter requesting update to Small Business Tax - This week, House Small Business Committee Chairman Steve Chabot (R-OH) sent a letter with Ranking Member Nydia Velázquez...more

Kilpatrick

Senate Banking Committee Holds Fintech Hearing

Kilpatrick on

The Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled “Examining the Fintech Landscape” on September 12, 2017. The witnesses were: Lawrance Evans, Director, Financial Markets, U.S. Government...more

Cooley LLP

Blog: GAO Releases Fintech Report

Cooley LLP on

In April, the Government Accountability Office (GAO), an independent agency that oversees government spending, released a report on fintech to help Congress better understand the industry. The report focused on the...more

Perkins Coie

Blockchain Week in Review – April 2017 #3

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

A&O Shearman

US Government Accountability Office Releases FinTech Reports

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The US Government Accountability Office released the first in a series of planned reports on fintech...more

Goodwin

Financial Services Weekly News - April 2016 #3

Goodwin on

Regulatory Developments - FHFA Announces Principal Reduction Program for Struggling Underwater Homeowners - On April 14, the Federal Housing Finance Agency (FHFA) announced a new Principal Reduction Modification...more

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