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Public Comment Financial Services Industry Regulatory Agenda

Troutman Pepper Locke

CFPB Proposes Rules Re-Defining Larger Participants in Multiple Markets

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On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the...more

Orrick, Herrington & Sutcliffe LLP

CFPB issues new proposal to ban certain financial contract terms

On January 13, the CFPB proposed a new rule to ban large banks and consumer finance companies from using certain contractual provisions in agreements with consumers under Regulation AA. The CFPB’s proposal warns against the...more

Troutman Pepper Locke

CFPB Initiates FCRA Rulemaking to Address Coerced Debt

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On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more

Hinshaw & Culbertson - Consumer Crossroads

New York City Department of Consumer and Worker Protection Proposes Amendments to its Definition of "Debt Collector"

In November 2024, the New York City Department of Consumer and Worker Protection (DCWP) proposed additional amendments to its rules relating to debt collectors to clarify the definition of a "debt collector."...more

Troutman Pepper Locke

Several Regulators Re-Propose Rules to Curb Incentive Compensation at Financial Institutions

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On May 6, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Housing Finance Agency (FHFA) issued a notice of proposed rulemaking and request for public comment to...more

WilmerHale

CFTC Issues Request for Comment on Uses of AI

WilmerHale on

On January 25, 2024, the Commodity Futures Trading Commission’s (CFTC) Staff issued a request for comment (RFC) on the current and potential uses and risks of artificial intelligence (AI) in the markets that the CFTC...more

Troutman Pepper Locke

CFPB Will Seek Public Input on Proposed Rule on Mandatory Pre-Dispute Arbitration Provisions

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In response to a petition filed last week by a number of consumer advocacy groups, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it will be seeking public input on a possible rule that would curtail...more

Mayer Brown Free Writings + Perspectives

Basel Committee Seeks Public Comments on Bank Supervision

On July 6, 2023, the Basel Committee on Banking Supervision (“Basel Committee”) released proposed revisions to its core principles for effective banking supervision (the “Revised Principles”). The Revised Principles are...more

Ballard Spahr LLP

FTC requests comment on consumer advocate petition regarding auto “yo-yo financing”

Ballard Spahr LLP on

On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more

Morgan Lewis - Tech & Sourcing

NYDFS Publishes Proposed Amendment to Its Cybersecurity Rules for Financial Services Companies

The New York Department of Financial Services (NYDFS) published its proposed amendment to its 23 NYCRR Part 500 (Cybersecurity Rules) on November 9, 2022, following the release of the draft version on July 29, 2022....more

Venable LLP

The Buy-Now-Pay-Later Boom Gets Consumer Protection Attention

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The explosion in Buy-Now-Pay-Later (BNPL) has caught the eyes of lawmakers and regulators, who are taking a closer look at this booming industry. BNPL payment offers allow consumers to purchase goods or services now and...more

Goodwin

SEC Proposes New Round of Money Market Fund Reforms

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) voted to propose money market fund reforms; the SEC also proposed amendments to Rule 10b5-1 trading plans and to modernize and improve share repurchase...more

Hudson Cook, LLP

Clear Skies Ahead? CFPB Launches Pilot Advisory Opinion Program

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On June 22, the CFPB formally launched a pilot advisory opinion (AO) program (Pilot AO Program) that would allow entities seeking to comply with regulatory requirements to submit a request to the Bureau for an opinion where...more

Polsinelli

Welcome to the Future - OCC to Examine Evolution of Digital Banking

Polsinelli on

The Office of the Comptroller of the Currency (OCC) will seek public comments on the evolution of financial services, including the regulatory framework that enables banks to adapt to technology advancements in the financial...more

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