On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more
11/16/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Digital Wallets ,
Electronic Payment Transactions ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Mortgage Lenders ,
Nonbank Firms ,
Peer-to-Peer ,
Proposed Rules ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Authority
On Friday, October 27, the Federal Trade Commission ("FTC") announced new amendments to the Safeguards Rule, requiring covered financial institutions to report certain data breaches to the FTC and reflecting its continuing...more
11/13/2023
/ Cybersecurity ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FTC Act ,
Gramm-Leach-Blilely Act ,
New Amendments ,
Non-Bank Lenders ,
Personal Information ,
Popular ,
Privacy Rule ,
Risk Assessment ,
Risk Management ,
Safeguards Rule ,
Section 5
On August 15, 2023, the Consumer Financial Protection Bureau ("CFPB") announced it was launching a rulemaking aimed at subjecting any company or entity that collects and sells consumer data to the Fair Credit Reporting Act...more
8/28/2023
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Consumer Reports ,
Cybersecurity ,
Data Brokers ,
Data Collection ,
Data Privacy ,
Data Protection ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Personal Data ,
Popular ,
Rulemaking Process