News & Analysis as of

Final Rules Dodd-Frank Wall Street Reform and Consumer Protection Act Nonbank Firms

Alston & Bird

CFPB Releases Chart to Help Determine if Nonbank Registration is Required

Alston & Bird on

What Happened? On October 3, 2024, the CFPB released a Nonbank Registration: Orders Rule Coverage Chart (the “Chart”) that summarizes how  an entity that is subject to an order may determine if it must register that order...more

Ballard Spahr LLP

CFPB Issues Final Rule Creating Nonbank Enforcement Action Registry

Ballard Spahr LLP on

The CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule, on June 3, 2024. The rule will require certain nonbank entities to register certain covered...more

Troutman Pepper

CFPB Issues Final Rule on Nonbank Registration of Enforcement Orders

Troutman Pepper on

On June 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule requiring covered nonbanks to register enforcement orders, and it is a doozy. Not only will covered nonbanks be required to register...more

Latham & Watkins LLP

CFPB Puts Fintechs in the Crosshairs

Latham & Watkins LLP on

The agency just revived its dormant authority to supervise nonbank financial entities that it determines pose risk to consumers.  On April 25, 2022, the Consumer Financial Protection Bureau (CFPB) - the US government...more

K&L Gates LLP

Time for a Tune-up: CFPB Finalizes Rule to Supervise Nonbank Auto Finance Companies and Issues Auto Finance Examination Procedures

K&L Gates LLP on

On June 10, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) published a final rule that will allow the agency to supervise certain larger nonbank auto finance companies for the first time and released auto...more

Ballard Spahr LLP

CFPB finalizes rule to supervise nonbank auto finance companies and releases auto finance examination procedures for banks and...

Ballard Spahr LLP on

The CFPB issued a final rule on June 10, 2015 allowing it to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Relatedly, it adopted simultaneously a separate rule...more

Dechert LLP

U.S. Consumer Financial Protection Bureau Acts to Expand Its Authority Over Nonbank Consumer Financial Services Companies

Dechert LLP on

The Consumer Financial Protection Bureau (“Bureau”), pursuant to its authority to extend its supervision to persons that offer or provide any consumer financial product or service that poses a risk to consumers, has adopted a...more

Ballard Spahr LLP

CFPB Finalizes Procedures for Supervising Nonbanks Engaged in Risky Conduct

Ballard Spahr LLP on

The Consumer Financial Protection Bureau has adopted a final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risk to consumers....more

Stinson - Corporate & Securities Law Blog

Fed Approves Rule Defining When A Company Is “Predominantly Engaged In Financial Activities”

The Federal Reserve Board has approved a final rule that establishes the requirements for determining when a company is “predominantly engaged in financial activities.” The requirements will be used by the Financial Stability...more

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