Navigating Consumer Protection: The CFPB's Expanding Reach — Payments Pros – The Payments Law Podcast
Understanding Scope of Practice
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
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
On May 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule to rescind amendments to its Procedures for Supervisory Designation Proceedings, originally adopted in 2022 and 2024. This...more
The Basel Committee on Banking Supervision (BCBS) has published a press release providing an update on its workstreams. The BCBS states that it will publish by mid-2025 an update on the outcome of its work to prepare a suite...more
Continuing a trend of expanding its supervisory scope, the Consumer Financial Protection Bureau (CFPB) announced on April 25, 2022 that it will examine fintechs and other nonbank financial enterprises, based on reasonably...more
The Conference of State Bank Supervisors (CSBS) published the latest policy paper in its series examining the nonbank financial services industry and its supervision. In its press release, CSBS summarized the key findings...more
CSBS Publishes New Series: “Reengineering Nonbank Supervision” - In a press release noting, among other things, that “[n]onbank mortgage companies are responsible for two-thirds of annual residential mortgage originations,...more
On June 10, 2015, the CFPB published a new regulation that has been dreaded by the auto finance industry for more than a year. Following up on the rule it proposed in June 2014, the CFPB published a final rule on June 10,...more
On June 10, 2015, the Consumer Financial Protection Bureau (CFPB) announced a final rule that will allow it to supervise larger nonbank automobile finance companies. Accompanying the rule, it also published the procedures...more