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Sheppard Mullin Richter & Hampton LLP

Federal Reserve Board Issues Cease and Desist Order Against Banking-As-A-Service Provider

Sheppard Mullin Richter & Hampton LLP on

On June 14, the Federal Reserve Board (Fed) released a cease and desist order against an Arkansas-based banking-as-a-service (BaaS) provider for compliance and risk management failures. As part of the order, the bank is...more

Skadden, Arps, Slate, Meagher & Flom LLP

CPPA’s First Enforcement Advisory Focuses on Applying Data Minimization Principles to Consumer Requests

Skadden, Arps, Slate, Meagher & Flom LLP on

On April 2, 2024, the Enforcement Division of the California Privacy Protection Agency (CPPA) issued Enforcement Advisory No. 2024-01. This first-ever enforcement advisory focuses on promoting compliance with California...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

A&O Shearman on

Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...more

Davis Wright Tremaine LLP

First Impressions on CFPB's Proposed Open Banking Rule: Considerations for Key Stakeholders

Davis Wright Tremaine LLP on

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) released its long-awaited "Required Rulemaking on Personal Financial Data Rights" (Proposed Rule) for public comment. The Proposed Rule was issued under...more

Ankura

FinTech Compliance Solutions in the UAE. Revolutionary or Risky?

Ankura on

The UAE is the Middle East’s leading financial center and a global hub for trade, particularly in gold and precious metals. This large presence within the global financial system makes it a target for financial crime,...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Edinburgh Reforms: Big Bang 2.0 or Thoughtful Change?

Skadden, Arps, Slate, Meagher & Flom LLP on

Following the recently introduced Solvency UK for insurers, the UK Chancellor of the Exchequer Jeremy Hunt (the UK finance minister) has announced the Edinburgh Reforms, a further series of reforms aimed at the UK financial...more

Sheppard Mullin Richter & Hampton LLP

The Department of Justice Sets Cryptocurrency Squarely in its Sights

Sheppard Mullin Richter & Hampton LLP on

The Department of Justice is aggressively scrutinizing participants in the cryptocurrency markets—including “financial institutions working with cryptocurrency”—to thwart the use of the technology as a vehicle for money...more

A&O Shearman

Financial Regulatory Developments Focus - October 2018 #2

A&O Shearman on

In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Goodwin

Financial Services Weekly News - October 2016 #3

Goodwin on

Editor's Note - Another Cybersecurity Proposal. On the heels of the New York State Department of Financial Services (NYDFS) issuing its proposed regulation that would require banks and insurance companies to institute...more

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