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Risk Management Consumer Financial Protection Bureau (CFPB) Financial Services Industry

Ballard Spahr LLP

AI in the Financial Services Industry

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The recent American Association of Residential Mortgage Regulators Annual Conference included a presentation highlighting the rising use of Artificial Intelligence (“AI”) in the Financial Services industry. As this will...more

Venable LLP

Compliance as a Competitive Advantage

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Recently, we presented on Compliance as a Competitive Advantage at Compliance University by Online Lenders Alliance. We shared a perspective we've developed over 20 years of working with financial services companies: that...more

Orrick, Herrington & Sutcliffe LLP

Financial services industry trade groups pen letter to Treasury Secretary Bessent on cybersecurity risks

On June 9, multiple financial services trade associations sent a letter to Treasury Secretary Scott Bessent expressing concerns about cybersecurity risk management practices at federal regulatory agencies following the OCC’s...more

Frost Brown Todd

What Does the CFPB’s Withdrawal of Guidance Documents Mean for Bank Compliance

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On May 12, 2025, the Consumer Financial Protection Bureau (CFPB) announced the withdrawal of various guidance, interpretive rules, policy statements, and advisory opinions issued since the CFPB assumed its functions in 2011....more

American Conference Institute (ACI)

[Event] 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - May 12th - 14th, New York, NY

Meet key stakeholders in Banking, FinTech, and broader payment systems next month at ACI’s 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems. Gain valuable insights from these industry...more

Ballard Spahr LLP

Republicans ask federal banking agencies to withdraw rules, guidance

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Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more

Troutman Pepper Locke

The FinReg Frontier: AI and Machine Learning in Consumer Finance — The Consumer Finance Podcast

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In this episode of the Consumer Finance Podcast, Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory practice, delves into the current state of machine learning and artificial...more

DLA Piper

Mitigating Risks for Banks, Fintech Companies, and Payment Processors

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Emerging issues under the Electronic Fund Transfer Act, Regulation E, and the UCC - As banks, fintech companies, and payment processors continue to innovate and partner on payment and wallet solutions, they must navigate the...more

Troutman Pepper Locke

Through the Crystal Ball: What's Next for Auto Finance — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal: The Auto Finance Podcast, hosts Brooke Conkle and Chris Capurso delve into the anticipated regulatory landscape for the auto finance industry in 2025. They explore the potential agendas of...more

Orrick, Herrington & Sutcliffe LLP

Senators pen letter to bank data CEO on debanking claims

On March 6, Sens. Andy Kim (D-NJ) and Elizabeth Warren (D-MA) from the Senate Banking, Housing, and Urban Affairs Committee requested information from the CEO of a company that collects and reports consumer information in the...more

Venable LLP

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

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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

McGlinchey Stafford

The Next Wave of Open Banking: New Rules on Personal Financial Data Rights

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A rapid transformation in consumer finance is being brought about by open banking—a pivotal innovation that allows consumers to give third parties real-time access to their detailed financial data. Open banking has the...more

Venable LLP

Consumer Finance’s Deregulatory Shift - The Evolving Role of Compliance

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With federal regulatory pressure easing, consumer financial services companies are well positioned to pursue growth with fewer potential roadblocks. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Pauses Supervision Order, Signals Potential Rescission

On February 8, the CFPB requested a 90 day stay in a lawsuit filed by a major tech company challenging the agency’s risk-based supervision order. The lawsuit, filed in the U.S. District Court for the District of Columbia,...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s union raises concerns over security and alleged misuse of sensitive information

On February 7, the union representing CFPB employees published a notice expressing concerns regarding the recent addition of certain DOGE employees to the CFPB’s email directory and their presence in offices. ...more

Orrick, Herrington & Sutcliffe LLP

CFPB discusses repossessions in auto finance

On January 23, the CFPB published a report titled, “Repossession in Auto Finance,” which discussed auto loan repossession trends, drawing on data from a pilot program that started in February 2023. The report revealed...more

Clark Hill PLC

What Debt Settlement Companies Need to Know When Working With Third Party Payment Processors (Whitepaper)

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Clark Hill’s Financial Services and Regulatory Compliance Group has authored a whitepaper for debt settlement companies considering engaging a third-party payment processor for managing accounts and handling financial...more

Adams & Reese

Financial Institutions Face New Risks in Allowing Consumers to Execute Wire Transfers Online

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A recent court order issued in New York should concern any financial institutions that allow consumers to initiate wire transfers online. Financial institutions that allow consumers to execute wire transfers online should...more

Troutman Pepper Locke

CFPB Highlights Fair Lending Risks in Advanced Credit Scoring Models

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its latest Supervisory Highlights report, focusing on the use of advanced technologies in credit scoring models. ...more

Venable LLP

Maximizing the Benefits (and Minimizing the Risks) of Payment Orchestration

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The payments industry continues to evolve in response to the demand for flexible, fast, and secure payment options. Innovations have included payment facilitation, push-to-card services, and real time payments, among others....more

Troutman Pepper Locke

Launching a Product Too Soon? Lessons From Recent CFPB Orders — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, host Chris Willis and guest Joe Reilly delve into recent CFPB consent orders that penalize financial services companies for allegedly launching products before they were fully...more

Orrick, Herrington & Sutcliffe LLP

Hsu urges banking industry to combat rise in fraud

In his recent remarks at the Women in Housing and Finance Public Policy Luncheon, Acting Comptroller of the Currency Michael J. Hsu addressed the growing challenge of financial fraud and its impact on society. He emphasized...more

Sheppard Mullin Richter & Hampton LLP

Treasury Highlights AI’s Potential and Risks in Financial Services

On December 19, the U.S. Department of Treasury released a report summarizing key findings from its 2024 Request for Information (RFI) on the uses, opportunities, and risks of Artificial Intelligence (AI) in financial...more

Hudson Cook, LLP

Pay Now or Pay Later, But Paying Later May Cost a Whole Lot More

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The Consumer Financial Protection Bureau has long required that an institution within the scope of its supervision or enforcement authority, including both depository institutions like banks and non-depository consumer...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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