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Financial Services Industry Biden Administration Federal Trade Commission (FTC)

Venable LLP

CFPB to Tackle Customer Service, Chatbots

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The CFPB is expected to initiate a rulemaking process that would require companies under its jurisdiction to let customers talk to a human by pressing a single button. The CFPB also has plans to issue rules or guidance...more

Troutman Pepper

White House Announces New Initiatives Targeting Consumer Experience

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Last week, the Biden-Harris Administration launched a comprehensive initiative aimed at addressing what it describes as everyday hassles that waste Americans’ time and money. This new government-wide effort, called “Time Is...more

Wilson Sonsini Goodrich & Rosati

All Eyes on AI: Regulatory, Litigation, and Transactional Developments – Q1 2024

The firm is pleased to distribute the Q1 2024 edition of All Eyes on AI: Regulatory, Litigation, and Transactional Developments, which closely follows the evolving regulatory landscape for artificial intelligence (AI) in the...more

Goodwin

2023 Year in Review: Data Privacy and Cybersecurity

Goodwin on

Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Amendments to key rules and regulations will take effect in 2024,...more

Ballard Spahr LLP

House Financial Services Committee Announces AI Working Group

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On January 11, 2024, the House Financial Services Committee announced the formation of a bipartisan Working Group on Artificial Intelligence (“AI”). The working group is to be led by the Chairman of the Digital Assets...more

Skadden, Arps, Slate, Meagher & Flom LLP

FTC Enforcement Trends in Consumer Protection Under the Biden Administration

The Federal Trade Commission (FTC or the Commission) has continued aggressive regulation in the consumer protection space under the Biden administration. This persistent approach has occurred even in the face of recent...more

Rothwell, Figg, Ernst & Manbeck, P.C.

White House AI Order Balances Innovation And Regulation

On Oct. 30, President Joe Biden issued an executive order on safe, secure and trustworthy artificial intelligence. The executive order provides a sprawling list of directives aimed at establishing standards for AI safety...more

Venable LLP

A Fall of Fees: CFPB and FTC Announce New Efforts to Fight Alleged “Junk Fees”

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Large banks and credit unions must provide certain information to customers free of charge, such as account balances, transaction history, and fees, according to an advisory opinion issued by the Consumer Financial Protection...more

Ballard Spahr LLP

White House, CFPB, FTC continue assault on “junk fees”

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Last Wednesday, we published three blog posts about new actions taken by the CFPB and FTC related to the Biden Administration’s war on “junk fees”...more

Troutman Pepper

October 11 Was a Red-Letter Day in the Growing Federal-State War on Fees

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On October 11, the Consumer Financial Protection Bureau (CFPB or Bureau) published a special edition of its Supervisory Highlights report. This report serves as a “victory lap” for the Bureau, which highlights the relief it...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

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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 Financial Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2023 # 5

Troutman Pepper on

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

McGlinchey Stafford

The Fuss About Junk Fees, Pt. 1: Biden, CFPB, and FTC Collaborate

McGlinchey Stafford on

Anyone who has financed the purchase of a good or service, had a bank account, bought a car, or purchased sporting event tickets has almost assuredly encountered what the Biden Administration and various regulatory agencies...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What the Biden Administration’s “Junk Fees” Initiative Means for the Consumer Financial...

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The Biden Administration has launched an initiative directed at combatting so-called “junk fees,” with the CFPB and FTC leading the Administration’s efforts. In Part II of this two-part episode, we first look at CFPB...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What the Biden Administration’s “Junk Fees” Initiative Means for the Consumer Financial...

Ballard Spahr LLP on

The Biden Administration has launched an initiative directed at combatting so-called “junk fees,” with the CFPB and FTC leading the Administration’s efforts. In Part I of this two-part episode, we first discuss the various...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2023 # 2

Troutman Pepper on

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Ballard Spahr LLP

Biden Administration Continues Efforts to Crackdown on “Junk Fees”

Ballard Spahr LLP on

During his remarks in a meeting with private sector companies on June 15, 2023, President Biden described junk fees as “these hidden charges that companies sneak into your bill to make you pay more and without you really...more

Brownstein Hyatt Farber Schreck

Biden Administration Announces Crackdown on “Junk Fees”

On Feb. 1, 2023, the Biden administration released a fact sheet describing actions taken by the White House that continue a focus on so called “junk fees.” The announcement, which was done along with several independent...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - V 4, Issue 1, January 2023

Big Boosts to Cybersecurity and Tech Funding in $1.7T Omnibus Bill Signed by Biden - “The bipartisan fiscal 2023 omnibus spending agreement includes $2.9 billion for the Cybersecurity and Infrastructure Security Agency, a...more

Orrick, Herrington & Sutcliffe LLP

Biden administration releases Renters Bill of Rights

On January 25, the Biden administration announced new actions for enhancing tenant protections and furthering fair housing principles, which align with the administration’s Blueprint for a Renters Bill of Rights that was...more

Clark Hill PLC

The Current Expectations of the Financial Services Regulatory Agenda – And What To Do

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President Biden spent nearly 18 months assembling his team of top financial services regulators. Michael Barr’s nomination as the top banking regulator at the Federal Reserve Board (FRB) will fill the last remaining vacancy...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

Hudson Cook, LLP

CFPB, The Roadmap Forward - Part One

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This article is the first of an exclusive three-part series interview with Jean Noonan, member of the CFPB Taskforce on Federal Consumer Law. In January 2020, the Consumer Financial Protection Bureau (CFPB) appointed a...more

Jones Day

What the Financial Services Industry Can Expect From State Attorneys General in a Biden Administration

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State attorneys general have become significant players in the financial world, using a number of special investigative and enforcement tools to investigate and prosecute alleged wrongdoing by financial market participants....more

Proskauer - Minding Your Business

Could the FTC Pass the Torch to the Consumer Financial Protection Bureau to Oversee the Fintech Industry?

The change in the White House administration combined with a potential ground-breaking Supreme Court decision may move the oversight and enforcement for marketing by the fintech sector from the Federal Trade Commission...more

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