News & Analysis as of

Payment Systems Consumer Financial Products Financial Services Industry

A&O Shearman

BNPL UK statutory instrument partially in force

A&O Shearman on

The UK statutory instrument (The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025) implementing the necessary legislative changes for progressing buy-now, pay-later (BNPL) regulation...more

Ballard Spahr LLP

Federal banking agencies seek information on actions to address payments fraud

Ballard Spahr LLP on

On June 20, 2025, the Office of the Comptroller of the Currency (OCC), Treasury, the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) announced they are seeking...more

Alston & Bird

Payments Docket | July 2025

Alston & Bird on

The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features the CFPB dropping most of its caseload, several states’ decisions to pick up the slack, and...more

Troutman Pepper Locke

Federal Banking Agencies Issue RFI on Payments and Check Fraud Mitigation Strategies

Troutman Pepper Locke on

On June 16, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC) issued a joint request for public comment on potential ways to address payments...more

Troutman Pepper Locke

Explore the Impact of Point-of-Sale Finance in Our Upcoming Series — The Consumer Finance Podcast

Troutman Pepper Locke on

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Jason Cover to introduce an upcoming special series focused on point-of-sale finance, a rapidly evolving sector in consumer financial services. This...more

Ballard Spahr LLP

Trump signs resolution voiding CFPB large nonbank supervision rule

Ballard Spahr LLP on

President Trump has signed a resolution nullifying the rule implementing the CFPB’s power to supervise large nonbank financial services providers of general-use digital consumer payment applications....more

A&O Shearman

New FCA work programme for 2025/26

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published its work programme for 2025/26, alongside a press release summarising its approach to supporting the testing of innovative products and new firms. The work programme sets...more

A&O Shearman

PSR publishes policy statement on 2024 APP scams data

A&O Shearman on

The UK Payment Systems Regulator (PSR) has published a policy statement outlining its approach to publishing authorised push payment (APP) scams data for 2024. In 2025, the PSR will take a different approach to publishing...more

Troutman Pepper Locke

Texas Senate Bill 1736 Proposes Allowing Convenience Fees for Electronic Motor Vehicle Payments

Troutman Pepper Locke on

On February 27, Texas State Senator José Menéndez (D) introduced Senate Bill 1736, a piece of legislation aimed at regulating convenience fees associated with electronic payments for motor vehicles. SB 1736 would allow such...more

A&O Shearman

UK payments regulators discuss next steps for open banking

A&O Shearman on

The Financial Conduct Authority and Payment Systems Regulator have set out the next steps for open banking, focusing on variable recurring payments. In the statement the regulators explain the benefits of variable recurring...more

Venable LLP

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

Venable LLP on

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

A&O Shearman

The U.K.'s Authorised Push Payment (APP) Fraud Reimbursement Scheme

A&O Shearman on

The UK’s Authorised Push Payment (APP) Fraud Reimbursement Scheme came into force on October 7, 2024. It requires in-scope payment service providers (PSPs) sending payments through either the Faster Payment System (FPS) or...more

McGlinchey Stafford

CFPB’s Designation of Large Digital Wallets Subject to Supervision: Game Changer or Much Ado About Nothing?

McGlinchey Stafford on

The Consumer Financial Protection Bureau (CFPB) recently finalized a rule that will subject the country’s most active digital wallets to ongoing supervision by the agency. Will the CFPB’s new supervisory authorities be a game...more

McGlinchey Stafford

Podcast: Deep Dive into Understanding Bank Partnerships in Payment Programs [More with McGlinchey, Ep. 73]

McGlinchey Stafford on

In this latest installment of McGlinchey’s Deep Dive into Bank Partnerships Series, attorneys Amy Greenwood-Field, Aaron Kouhoupt, and David Tallman explore the complexities of payment programs involving partnerships between...more

Troutman Pepper Locke

The Evolving Landscape of B2B Payments: Regulatory Trends and Financial Practices Explained — Payments Pros – The Payments Law...

Troutman Pepper Locke on

In this episode of Payments Pros, host Josh McBeain is joined by Caleb Rosenberg, a member of the firm’s Consumer Financial Services practice group, to discuss the complexities of business-to-business payments and the...more

Klein Moynihan Turco LLP

CFPB Targeting Gaming Industry?

On April 4, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a report (the “Report”) examining the potential risk to consumer assets and data in the online video game and virtual world spaces. The CFPB gaming...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

CFPB Bites of the Month - 2023 Annual Review - Payments

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to payments, along with some additional related information....more

Perkins Coie

CFPB Proposes Federal Oversight of Digital Wallet and Payment App Providers

Perkins Coie on

The Consumer Financial Protection Bureau (CFPB) published a proposed rule on November 7, 2023, that, if finalized, would subject to its supervisory authority certain Big Tech firms and other nonbank companies operating in the...more

Morrison & Foerster LLP

CFPB Issues Proposal to Regulate Large Digital Wallet and Payment App Providers

Morrison & Foerster LLP on

On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to supervise large providers of digital wallets and payment apps. Specifically, the proposed rule on Defining Larger Participants of...more

Arnall Golden Gregory LLP

What’s in Your (Digital) Wallet? The CFPB Seeks to Supervise Digital Wallets and Payment Applications

There are certain nonbank markets that the Consumer Financial Protection Bureau (“CFPB”) has the statutory right to supervise irrespective of size (e.g., mortgage, private education loan, payday lending). Then, there are...more

Wilson Sonsini Goodrich & Rosati

CFPB Proposes New Examination Authority over “Larger Participants” in the Digital Wallet and Consumer Payment App Markets

In a shot across the bow to the digital payments industry, the U.S. Consumer Financial Protection Bureau (the Bureau) has issued a proposed rule to expand its oversight authority to nonbank providers of consumer payment apps....more

Ballard Spahr LLP

CFPB issues proposal to supervise nonbank providers of digital wallets and payment apps

Ballard Spahr LLP on

The CFPB has issued a proposed rule to supervise nonbank companies that qualify as larger participants in a market for “general-use digital consumer payment applications.”  Comments on the proposal are due by January 8, 2024...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The Impact of New Developments in Payment Systems on Low-Income Consumers

Ballard Spahr LLP on

Our special guest is Mark Budnitz, Professor Emeritus, Georgia State University College of Law. In an article recently published in the Georgetown Journal on Poverty Law and Policy, Prof. Budnitz explores the impact on...more

Hudson Cook, LLP

CFPB Bites of the Month - September 2023 - Harvesting the Latest Compliance Crop

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the September 2023 webinar. Bite 1: Update on Federal Student Loan Borrowers - On September 5, 2023, the CFPB reminded...more

40 Results
 / 
View per page
Page: of 2

"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:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide