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The Biden Administration's Push for Transparency in AI Technology
ChatGPT Risks for Compliance Programs
Digital Planning Podcast Episode: Understanding Biometrics and the Impact on Estate Planning
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ESG Essentials: What You Need To Know Now - Episode 13 - Sustainable Ethos Litigation: Aspiration or Inaction?
Podcast - Consumer Protection: Ignorance Is Not Bliss
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Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation - The Consumer Finance Podcast
A Conversation with Kristi Kelly of Kelly Guzzo - FCRA Focus Podcast
The Current Landscape of Bank-Fintech Partnerships - The Consumer Finance Podcast
FCPA Compliance Report-Episode 470-Quyen Truong on California’s Proposed Mini-CFPB: National Impact and Enforcement Threat
The U.K. Financial Conduct Authority has published a speech by Graeme Reynolds, director of competition on addressing vulnerability in the wealth management sector. Mr Reynolds discusses the good and bad practices that have...more
With the governor’s signature, Colorado has enacted a new consumer protection law focused on artificial intelligence (“AI”) systems. The “Colorado AI Act” will go into effect on February 1, 2026. It will have a minor impact...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
The U.K. Financial Conduct Authority has published its review of consumer credit firms and other non-bank lenders as latest chapter in its ongoing supervisory focus on financial resilience. While the review specifically...more
On October 22, 2024, the Consumer Financial Protection Bureau (the “CFPB”) finalized its personal financial data rights rule (“The Final 1033 Rule” or the “Final Rule”) that would require data providers to make available to...more
HM Treasury has begun consulting on draft legislation regulating Buy Now Pay Later. HM Treasury is proposing to bring forward secondary legislation that would bring BNPL into Financial Conduct Authority regulation as soon as...more
This is the final note in a three-part series on the regulation of artificial intelligence in the financial services sector in the United States, the European Union and the United Kingdom. Our first note, we provided a...more
The draft Consumer Composite Investments (Designated Activities) Regulations 2024 have been published, together with an explanatory memorandum. The Regulations establish a proposed new legislative framework for the regulation...more
The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more
Since publication of the review, the FCA has seen improvements in both the rates available to savers and the volume and timing of firms' communications to savings customers. However, despite these improvements, the review of...more
The Financial Conduct Authority has published its findings from the first year of the implementation of the price and value outcome under the Consumer Duty. The specific focus of the price and value outcome rules is to ensure...more
Post Brexit, the U.K. Government and Financial Conduct Authority are committed to the ongoing reform programme to reinvigorate the U.K.'s capital markets. As part of this, the Government and FCA are committed to replacing...more
The latest guidance from the regulator focuses on the price and value outcome. On 18 September 2024, the FCA published further feedback on the Consumer Duty, setting out good and poor practices in relation to the price...more
On August 28, the CFPB issued a Consumer Advisory warning that it believes video game companies are targeting children for monetary gain. With 45.7 million U.S. children engaged in video gameplay, the agency is concerned...more
On September 12, 2024, the Consumer Financial Protection Bureau (CFPB) filed a proposed order which, if entered by the court, will ban a student loan servicer from servicing federal student loans and require it to pay $120...more
The U.K. Financial Conduct Authority has published a consultation paper on a new regulatory reporting return for consumer credit firms engaging in any one, or more, of the regulated activities of credit broking, providing...more
The CFPB is expected to initiate a rulemaking process that would require companies under its jurisdiction to let customers talk to a human by pressing a single button. The CFPB also has plans to issue rules or guidance...more
The Financial Conduct Authority has published a policy statement on the final rules and guidance for a new regulatory regime to support access to cash for the consumers and businesses that rely on it, along with a research...more
The CFPB found alleged violations of the Fair Debt Collection Practices Act (FDCPA) and other consumer protection laws in its examination of debt collectors, loan servicers, and financial institutions managing deposit,...more
Explore the unique considerations for mergers and acquisitions in the AI sector, the return of IPOs, the implications of new Supreme Court decisions and other developments in this edition of Skadden’s quarterly Insights....more
In this episode, Matt Bisanz interviews John Sonsalla and Hugo Dante of Washington Analysis to discuss developments in the world of consumer protection risk....more
On June 18, the CFPB settled enforcement actions against two mortgage servicers who serviced reverse mortgages on behalf of HUD, for their systemic failure to respond to consumer requests for assistance, resulting in...more
On June 14, the CFPB published a press release announcing that its 2017 Payday, Vehicle Title and Certain High-Cost Installment Loans Rule (“Payday Lending Rule”) will go into effect on or about March 30, 2025. According to...more
While some states have existing laws governing certain aspects of the use of AI, on May 17, Colorado became the first state to enact comprehensive artificial intelligence (AI) legislation. Senate Bill 24-205, “Concerning...more
The Financial Ombudsman Service has announced that its proactive settlement scheme will continue. The FOS explains that over the last couple of years, it has trialed a new way to help financial businesses and their customers...more