Popular, Department of Justice (DOJ), Consumer Financial Protection Bureau (CFPB)

Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

Morgan Lewis on 8/8/2025

An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or...more

President Trump Issues Executive Order to Eliminate Disparate Impact Analysis

Troutman Pepper Locke on 4/25/2025

President Donald J. Trump issued an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order aims to eliminate the use of disparate impact liability in all contexts, emphasizing the importance of...more

Weekly Blockchain Blog - January 2025 #2

BakerHostetler on 1/21/2025

U.S. Web3 Companies Launch Products and Tech Integrations - A major U.S. cryptocurrency exchange recently launched a “Bitcoin-based loans” product that allows customers to post BTC as collateral for USDC loans. ...more

FTC and DOJ File Amended Complaint Against Cash Advance Fintech

Sheppard Mullin Richter & Hampton LLP on 1/6/2025

On December 30, the Department of Justice (DOJ), at the Federal Trade Commission’s (FTC) referral, filed an amended complaint against an online cash advance provider. The complaint now names the company’s CEO as a defendant,...more

CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets

Husch Blackwell LLP on 11/27/2024

On November 13, the Consumer Financial Protection Bureau (CFPB) released a report on matched-pair testing in small business lending, highlighting potential racial discrimination. The study reveals that Black small business...more

What's Next for the Regulatory Landscape Post-Chevron?

Holland & Knight LLP on 9/3/2024

For nearly 40 years and in more than 18,000 judicial opinions, federal courts have used the Chevron doctrine to defer to an agency's reasonable interpretation of an ambiguous statute. On June 28, 2024, the U.S. Supreme Court...more

DOJ Signals Tough Stance on Crimes Involving Misuse of Artificial Intelligence

Wiley Rein LLP on 2/21/2024

WHAT: Deputy Attorney General (DAG) Lisa O. Monaco delivered remarks at the University of Oxford in the United Kingdom on “the Promise and Perils of AI.” Her remarks focused on the U.S. Department of Justice’s (DOJ) use of...more

House Committee Forms AI Working Group as Regulators Emphasize Existing Authority to Regulate AI

Husch Blackwell LLP on 1/30/2024

Here’s what you need to know: 1. The House Financial Services Committee formed a 12-member working group on Artificial Intelligence (AI). The group is tasked with exploring AI’s comprehensive impact on financial services so...more

CFPB Brings String of Enforcement Actions to Round Out 2023

Sheppard Mullin Richter & Hampton LLP on 1/29/2024

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

2023 Artificial Intelligence Regulation: An Update from a Senior FTC Official

Holland & Knight LLP on 11/22/2023

Holland & Knight hosted Michael Atleson, a senior attorney for the Federal Trade Commission (FTC or Commission), for a webinar presentation on Nov. 7, 2023. Mr. Atleson has been with the FTC for nearly two decades and...more

Biden Issues First Executive Order Directing Federal Agencies to Establish New Standards to Promote Safe and Secure Use of AI

Troutman Pepper Locke on 11/2/2023

On October 30, President Biden issued a sweeping Executive Order calling on Congress to enact privacy laws and directing federal agencies to review existing rules and potentially explore new rulemakings governing the use of...more

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on 10/23/2023

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more

The Federal Trade Commission and Artificial Intelligence

ArentFox Schiff on 10/19/2023

Artificial intelligence (AI) burst into the public consciousness less than one year ago, with OpenAI’s highly successful public release of ChatGPT. Since then, AI-enabled products and services have proliferated throughout the...more

Regulating AI: An Overview of Federal Efforts

Rothwell, Figg, Ernst & Manbeck, P.C. on 8/2/2023

This first part of a two-part series on U.S. regulation of artificial intelligence systems provides an overview and modern context for the existing regulatory, legal and risk management landscape for AI systems in the U.S.,...more

PropTech Update - 5.08.23 #1

Allen Matkins on 5/9/2023

Venture capital investment in PropTech continued its downward trend as the dollar volume of funding dropped 77% annually in the first quarter of 2023. At the same time, the number of investment deals appears to be holding...more

Regulation of AI – the Path Ahead

Seyfarth Shaw LLP on 5/5/2023

Last week, a joint statement was issued by four federal agencies expressing their apprehension regarding the use of AI for discriminatory or anticompetitive purposes and outlining their plans for regulation. This comes on the...more

CFPB, Federal Agencies Warn of Obligations to Avoid Algorithmic Discrimination

Cooley LLP on 4/28/2023

On April 24, 2023, the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Department of Justice (DOJ) and Equal Employment Opportunity Commission (EEOC) released a joint statement affirming that...more

Top PHive Crypto Enforcement Notes: December Edition

Paul Hastings LLP on 12/8/2022

Well, it was another quiet month in crypto . . . Not. We are still watching the tsunami play out in real time, as governments and the crypto market react to another seismic shift in the crypto landscape....more

Treasury Calls for Enhanced Supervision of Fintech Partnerships

Morrison & Foerster LLP on 12/7/2022

On November 16, 2022, the Department of Treasury (“Treasury”) issued a report titled “Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets” (“Treasury Report”), which, among other...more

Top PHive Crypto Enforcement Notes: November Edition

Paul Hastings LLP on 11/4/2022

It certainly feels like a race between innovation and enforcement these days, with regulators and law enforcement stepping up the cautionary rhetoric and promising broader enforcement aimed at corporate actors....more

Troutman Pepper Weekly Consumer Financial Services Newsletter -October 2022 #4

Troutman Pepper Locke on 10/26/2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Wiley Consumer Protection Download (August 29, 2022)

Wiley Rein LLP on 8/30/2022

FTC Launches Long-Anticipated Trade Regulation Rulemaking on ‘Commercial Surveillance’ and Data Security. On August 11, the FTC issued an Advance Notice of Proposed Rulemaking (ANPR), titled “Trade Regulation Rule on...more

Wiley Consumer Protection Download (August 8, 2022)

Wiley Rein LLP on 8/9/2022

Regulatory Announcements- FTC Commissioner Phillips Plans to Leave the Agency in the Fall, Per Media Reports. On August 8, several media outlets reported that FTC Commissioner Noah Phillips informed his staff through a memo...more

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

King & Spalding on 7/13/2022

The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Daily Financial Regulation Update -- Saturday, July 2, 2022

Paul Hastings LLP on 7/5/2022

Major Developments- Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losses...more

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