Risk Management, Consumer Financial Products, UDAAP

Navigating the New Consumer Financial Services Landscape: Enforcement, Compliance, and Litigation Risks

Venable LLP on 3/13/2025

Financial services companies may feel relief from the aggressive federal oversight and regulation that defined the past decade. However, regulatory risk has not disappeared—it has shifted. ...more

Treasury Issues RFI on Use of AI in Financial Services

Ballard Spahr LLP on 6/27/2024

After several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information...more

CFPB Launches New Initiative Focused on Rural Communities

Goodwin on 3/18/2022

In This Issue. The Consumer Financial Protection Bureau (CFPB) announced a new initiative focused on financial issues faced by rural communities and also updated its examination procedures to cover unfair discrimination; the...more

SEC Adopts Broad Exempt Offering Reforms

Goodwin on 11/5/2020

In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Federal Reserve Board Launches “Consumer Compliance Supervision Bulletin”

Ballard Spahr LLP on 8/7/2018

On July 26, 2018, the Federal Reserve Board (“FRB“) announced the launch of the “Consumer Compliance Supervision Bulletin” (the “Bulletin“) and simultaneously published its first issue. ...more

Is Your Company Compliant? CFPB Requires Written Enterprise-Wide UDAAP Risk-Management Program

Bradley Arant Boult Cummings LLP on 10/6/2016

The Consumer Financial Protection Bureau (CFPB) ordered First National Bank of Omaha (FNBO) to pay a $4.5 million civil money penalty and $27.75 million in customer restitution for violations of engaging in deceptive...more