News & Analysis as of

Financial Institutions Regulation E Banking Sector

Sheppard Mullin Richter & Hampton LLP

Takeaways From the FDIC’s Spring 2024 Consumer Compliance Supervisory Highlights

On March 28, the FDIC released the spring edition of its consumer compliance supervisory highlights. The FDIC supervises approximately 3,000 state-chartered banks and thrifts that are not members of the Federal Reserve...more

GeoDataVision

Electronic Funds Transfers-what you need to know when using cash applications such as Venmo

GeoDataVision on

Visit https://compliance911show.com for more episodes. Len and Dean focus on Electronic Funds Transfers, particularly person-to-person (P2P) payment apps like Venmo, Apple Pay, and Zelle. Dean elaborates on the December...more

Ballard Spahr LLP

CFPB continues focus on overdraft practices

Ballard Spahr LLP on

In a blog post published last week, the CFPB reported that since the beginning of 2022, it has been collecting data from supervised institutions on their overdraft and non-sufficient fund (NSF) practices and intends to use...more

Ballard Spahr LLP

Coming Soon: Nacha’s Meaningful Modernization Rule

Ballard Spahr LLP on

Last fall, Nacha finalized its Meaningful Modernization rule which provides for significant changes to the Nacha Operating Rules. According to Nacha, the amendments are intended to facilitate adoption of new ACH payments...more

Ballard Spahr LLP

CFPB Issues Template For Employee Savings Program Under Compliance Assistance Sandbox Policy

Ballard Spahr LLP on

The CFPB recently announced that it has issued a Compliance Assistance Statement of Terms Template (“CAST Template”) through its Compliance Assistance Sandbox Policy (“CAS Policy”) after receiving an application from Build...more

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

Ballard Spahr LLP on

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Ballard Spahr LLP

CFPB publishes Reg E corrections

Ballard Spahr LLP on

The CFPB has published a final rule in the Federal Register that makes several corrections to Regulation E (which implements the Electronic Fund Transfer Act). The corrections...more

Davis Wright Tremaine LLP

CFPB Inserts Consumer Protection Issues into Faster Payment System Developments

The Consumer Financial Protection Bureau recently issued a series of Consumer Protection Principles to be considered as new, faster payment systems are being developed. The Rapidly Changing Regulatory Landscape for Faster...more

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