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Consumer Financial Protection Bureau (CFPB) Financial Services Industry Competition

Ballard Spahr LLP

Transportation Department opens probe into rewards programs at four largest airlines

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Saying it wants to protect consumers from unfair, deceptive or anticompetitive practices, the Transportation Department on Sept. 5 launched an investigation into the rewards programs operated by the nation’s four largest...more

Wiley Rein LLP

Wiley Consumer Protection Download (June 4, 2024)

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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

Holland & Knight LLP

Consumer Financial Protection Bureau Proposes New Financial Data Portability, Security Rules

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The Consumer Finance Protection Bureau (CFPB) on Oct. 19, 2023, proposed a new Personal Financial Data Rights rule (Proposal) through which it seeks to increase competition in the financial sector. The Proposal was developed...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Shining a Bright Light on Digital Dark Patterns

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Our special guest is Andrew Nigrinis, PhD, who formerly served as Enforcement Economist for the Consumer Financial Protection Bureau. We first discuss what is meant by “dark patterns” and the types of digital practices...more

Troutman Pepper

CFPB Focusing on Increasing Competition in Credit Card Market

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On April 17, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post, highlighting its current efforts in the credit card market. According to the post, interest rates on credit cards have risen...more

Morrison & Foerster LLP

Treasury Calls for Enhanced Supervision of Fintech Partnerships

On November 16, 2022, the Department of Treasury (“Treasury”) issued a report titled “Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets” (“Treasury Report”), which, among other...more

Sheppard Mullin Richter & Hampton LLP

Treasury Report Sets Guidelines For Oversight on FinTech Participation in Core Finance Markets

The U.S. Department of the Treasury recently released a report titled “Assessing Impacts of New Entrant Non-bank Firms on Competition in Consumer Finance Markets,” a product of the Biden administration’s effort to assess...more

Cozen O'Connor

CFPB Announces Rulemaking for Personal Financial Data Rights

Cozen O'Connor on

The CFPB released an outline of proposals and alternatives the Bureau is considering for a rulemaking that, according to a statement from CFPB Director Rohit Chopra, are aimed to boost competition in the financial services...more

Akerman LLP

Consumer Regulators' Role in Biden Administration's Framework on Digital Assets

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Earlier this year, President Biden issued an Executive Order on Ensuring Responsible Development of Digital Assets ("Digital Assets EO"). The Digital Assets EO directed over 20 federal agencies to provide the Administration...more

Sheppard Mullin Richter & Hampton LLP

CFPB Continues Efforts to Promote Competition in Financial Markets

On July 11, CFPB Director Rohit Chopra drafted a blog post detailing the Bureau’s efforts to comply with President Biden’s Executive Order on Promoting Competition in the American Economy aimed, in part, to address the...more

Cadwalader, Wickersham & Taft LLP

CFPB Launches Office of Competition and Innovation

On May 24, the CFPB launched a new office, the Office of Competition and Innovation. The stated purpose of the new office is to promote competition and innovation that benefits consumers in the financial products and services...more

McGlinchey Stafford

CFPB Launches New Office to Facilitate Competition and Innovation

McGlinchey Stafford on

On May 24, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it is replacing the Office of Innovation with the newly-established Office of Competition and Innovation. The CFPB intends to “help spur...more

Cozen O'Connor

CFPB Moves to Spur Consumer Finance Competition

Cozen O'Connor on

The Consumer Financial Protection Bureau announced the opening of a new office, the Office of Competition and Innovation, to replace the Office of Innovation. The new office is part of an effort to help promote innovation in...more

Manatt, Phelps & Phillips, LLP

[Webinar] The CFPB’s New Tactics: Strategies for Mitigating Regulatory Risk in 2022 - April 28th, 1:00 pm - 2:00 pm ET

Since the beginning of the Biden Administration, the Consumer Financial Protection Bureau (CFPB) has announced its intention to significantly increase its enforcement activity and expand its reach through aggressive...more

Cozen O'Connor

The State AG Report - Volume 7, Issue 33 | August 2021

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Expensive Pets: Scammer Sells Badly Behaved...more

Eversheds Sutherland (US) LLP

Overview of President Biden’s Non-Compete Agreement Executive Order 

On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy. The Order, breathtaking in scope, asserts as a key goal the desire to improve the lives of consumers through...more

ArentFox Schiff

Payments From America, With Love: Industry and CFPB Approach to Amending the Remittance Rule

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According to the World Bank and the Bureau, of the $613.5 billion worldwide dollar amount of remittance transfers in 2017, $148.5 billion was sent from the US in over 325 million remittance transfers, and $6.6 billion was...more

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