On June 6, 2024, the US Department of the Treasury (Treasury) issued a request for information (RFI) on the “uses, opportunities and risks of artificial intelligence (AI) in the financial services sector.” The RFI seeks...more
A flurry of activity on January 27 signaled continued skepticism from the Federal Reserve of crypto-asset-related activities generally and open, public or decentralized networks in particular....more
On January 23, the New York State Department of Financial Services (DFS or the Department) issued guidance clarifying its expectations for New York-based virtual currency businesses regarding the custody of customer assets...more
On March 16, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) announced a significant expansion of its “anti-discrimination efforts to combat discriminatory practices across the board in consumer finance.” Under...more
3/24/2022
/ Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Discrimination ,
Dodd-Frank ,
ECOA ,
Examination Manual ,
Fair Housing Act (FHA) ,
Financial Services Industry ,
HMDA ,
UDAAP
In legislative language accompanying his proposed budget, New York Governor Andrew M. Cuomo proposes to significantly expand the powers of the New York Department of Financial Services (DFS), the state’s banking and insurance...more
The US House of Representatives recently passed the Secure and Fair Enforcement (SAFE) Banking Act, H.R. 1595 (the Act), which, if it becomes law, would have far-reaching implications for financial institutions considering...more
10/7/2019
/ Cannabidiol (CBD) oil ,
Controlled Substances Act ,
Criminal Proceeds ,
Depository Institutions ,
Dispensaries ,
Farm Bill ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
Marijuana Related Businesses ,
Money Laundering ,
Pending Legislation ,
SAFE Act ,
Safe Harbors
This is the second issue of WilmerHale’s 8-in-8 Recent Trends in European Law and Policy Alert Series. Our attorneys will share insights on current and emerging issues affecting companies doing business in Europe and across...more
6/1/2018
/ EU ,
European Economic Area (EEA) ,
Financial Services Industry ,
Foreign Relations ,
Free Trade Agreements ,
Member State ,
Passporting ,
Trade Relations ,
UK ,
UK Brexit ,
Withdrawal
The past few years have been boom times for financial technology (fintech), with investments in fintech companies rising from $1.8 billion in 2010 to $19 billion in 2015 according to one study. Will recent regulatory...more