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Consumer Financial Protection Bureau (CFPB) Regulatory Agenda FinTech

Akerman LLP

Explainer Things: Season 2 Episode 3

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It has been a busy time for us at Explainer Things. Awards season is over, but the fintech regulatory drama is in midseason form. The star of this episode is of course the Supreme Court’s decision on the future of the CFPB....more

Jenner & Block

Client Alert: Buy Now, Pay Later: A Roadmap for Providers as Regulators Continue to Increase Scrutiny

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Point-of-sale financing arrangements payable in four or fewer interest-free installments, known as buy now, pay later (BNPL) arrangements, have soared since their initial breakthrough during the pandemic. Unlike conventional...more

Ballard Spahr LLP

Fintech trade group sends letter to Director Chopra urging CFPB to develop regulatory approach for earned wage access products

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The American Fintech Council (AFC), a trade group whose members include providers of earned wage access (EWA) products, has sent a letter to Director Chopra urging the CFPB to take steps towards development of a “pragmatic...more

Jones Day

CFPB Seeks to Expand Regulatory Powers Over Consumer Payment Tech Entities

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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

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more

Hudson Cook, LLP

CFPB Bites of the Month - September 2023 - Harvesting the Latest Compliance Crop

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In this month's article, we share some of our top "bites" for the prior month covered during the September 2023 webinar. Bite 1: Update on Federal Student Loan Borrowers - On September 5, 2023, the CFPB reminded...more

Venable LLP

Buy-Now-Pay-Later: A 360 Degree Overview

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Buy-Now-Pay-Later (BNPL) products are taking center stage as a popular way for consumers to purchase goods or services now and pay for them over time through a short series of installments, often interest-free. Industry...more

Eversheds Sutherland (US) LLP

Focus on Fintech: CFPB Probes Big Tech Plans for Payments

On October 21, 2021, the CFPB sent orders to Amazon, Apple, Facebook, Google, PayPal, and Square requiring them to provide information about their current and planned payments products, practices, and data collection and...more

Eversheds Sutherland (US) LLP

Focus on Fintech: The CFPB is Scrutinizing Buy Now Pay Later Products - is Rulemaking Next?

The “buy now pay later” (BNPL) market continued its trend of increasing valuations and consumer uptake through the end of 2021. BNPL’s popularity is largely due to its simple repayment terms and low cost relative to...more

Hogan Lovells

Election 2020 Snapshot: Helping our financial services clients make sense of the U.S. election results

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Brace for increased regulation of the financial services industry and federal enforcement under the Biden Administration with a focus on consumer protection and debt collection, discrimination in the housing and consumer...more

Latham & Watkins LLP

A Path Forward for Open Banking

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As third-party access to consumer financial data expands, regulators balance innovation, customer choice, and data protection. Consumers’ rights to access and use their personal financial information has been a key focus of...more

BCLP

Consumer Financial Services and Fintech Enforcement Trends in New York

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The New York Department of Financial Services (NYDFS) is New York’s primary regulator of financial institutions, consumer protection, and financial activity.  With jurisdiction over more than 1,500 financial institutions, the...more

Bradley Arant Boult Cummings LLP

California’s Proposed “Mini-CFPB” May Increase Scrutiny of Auto Lenders and Other Industry Participants

Earlier this month, California Gov. Gavin Newsom revealed plans to create a state version of the federal Consumer Financial Protection Bureau (CFPB) as part of the state’s proposed 2020-2021 budget. According to the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Jones Day

California’s Proposal to Create Mini-CFPB - This proposed regulatory change will undoubtedly have a wide-ranging impact on...

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On January 10, 2019, California Governor Gavin Newsom proposed a plan to create a California version of the federal Consumer Financial Protection Bureau ("CFPB") as part of the state's proposed 2020-21 budget. According to...more

Ballard Spahr LLP

CA and NY governors propose expansion of state consumer financial protection regimes

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The governors of California and New York have both proposed to expand the authority of their respective state’s consumer financial services regulator.  Both governors have framed their proposals as a response to what they...more

Ballard Spahr LLP

CFPB and Utah AG announce joint office hours in Salt Lake City as part of ACFIN

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The CFPB and Utah AG’s Office have announced that they will hold the first joint office hours as part of the American Consumer Financial Innovation Network (ACFIN).  The joint office hours will be held on January 30, 2020 in...more

Goodwin

What We Know and What to Watch Under Kraninger, the CFPB’s New Director

Goodwin on

On December 10, 2018, Kathy Kraninger was sworn in to serve as Director of the Consumer Financial Protection Bureau (CFPB) for a five-year term. This followed her December 6, 2018 confirmation by the Senate with a vote of 50...more

Nutter McClennen & Fish LLP

Nutter Fintech in Brief: Bureau of Consumer Financial Protection Proposes Product Sandbox and Policy Changes for No-Action Letters

On December 13, 2018, the Bureau of Consumer Financial Protection (the “Bureau”), through its Office of Innovation, published two policy proposals consisting of (i) proposed changes to the Bureau’s Policy on No-Action Letters...more

Ballard Spahr LLP

CFPB Collaborates to Create a Global Fintech Network with Regulators around the World

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Last week the CFPB announced an initiative to create a Global Financial Innovation Network (GFIN) with 11 other financial regulators and related organizations across the globe....more

Robinson+Cole Data Privacy + Security Insider

U.S. Moves Ahead with Federal “Fintech Sandbox” — CFPB Announces Creation of Office of Innovation

In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of...more

BCLP

The OCC Rises, the FSOC Dies, and Other Regulatory Predictions

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Eight bold regulatory predictions on the direction of U.S. Banking and Fintech regulation in light of the election results. The era of “outside the law” Federal regulation is over. Critics of the CFPB (exclusively...more

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