As anticipated, 2025 is already shaping up to be a busy year in consumer financial services, with a federal district court expanding the application of a strict consumer protection law to wire transfers. The potential for a...more
On Friday, January 10, the Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule that could significantly broaden the scope of the Electronic Fund Transfer Act (EFTA) to encompass a wide range of digital...more
The CFPB adopted a final rule providing for increased oversight of certain companies offering consumer payment products like mobile apps and digital wallets. Continuing to lean into its plans to expand its authority to...more
Orrick Partner Edward Somers joins Jerry Buckley and Sherry Safchuk for a conversation about the regulatory frameworks affecting electronic records and signatures for the origination and servicing of financial products. The...more
The CFPB has proposed a long-anticipated rule targeting overdraft fees. Billed as part of its effort to rein in “junk fees,” the proposal could have a significant effect on the nature and availability of overdraft protection...more
The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking this week that seeks to expand its authority to supervise and examine providers of digital wallets and payment applications....more
On May 1, the New York Department of Financial Services (“NYDFS” or “Department”) and a trading platform entered into a consent order to resolve deficiencies identified during examinations conducted in 2018 and 2020. The...more
6/6/2023
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