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FinTech Consumer Financial Products

Goodwin

CFPB Proposes to Include Virtual Currency Transactions Under the EFTA

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The Consumer Financial Protection Bureau (CFPB) issued a proposed interpretive rule that, if finalized as written, would bring certain virtual currency products and services, such as stablecoins and digital wallets, within...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Navigating the New CFPB Open Banking Rule

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In today’s podcast episode, we’re joined by Alex Johnson, Founder of Fintech Takes, and Paige Paridon, Senior Vice President, Senior Associate General Counsel & Co-Head of Regulatory Affairs at Bank Policy Institute, to take...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 53: Expanding the FCRA to Data Brokers

RegFi Co-Hosts Jerry Buckley, Sherry Safchuk and Sasha Leonhardt explore the implications of the CFPB’s recently proposed amendments to Regulation V that would apply the Fair Credit Reporting Act to data brokers. The...more

Goodwin

Compliance Covenants in Fintech Investment Side Letters

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Fintech companies that partner with banks to deliver financial products and services can be among the most compliance-fortified financial services companies. A fintech with a lending solution can operate with at least seven...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Troutman Pepper Locke

What Financial Services Companies Need to Know in a Second Trump Administration — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, host Chris Willis, co-leader of Troutman Pepper's Consumer Financial Services Regulatory practice, is joined by colleagues Mark Furletti, Stephen Piepgrass, Jesse Silverman,...more

Alston & Bird

CFPB Finalizes Open Banking Rule on Consumer Financial Data Rights

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Our Financial Services Group unpacks the Consumer Financial Protection Bureau’s final rule on consumer financial data rights under Section 1033 of the Dodd–Frank Act....more

Skadden, Arps, Slate, Meagher & Flom LLP

Fintech Focus Podcast | Reconciling AI With Fair Lending and Consumer Protection

Consumer financial services partner Darren Welch joined Joseph Kamyar for the latest episode of “Fintech Focus” to discuss AI safety in the fair lending and consumer protection. Tune in to the podcast to hear how U.S....more

Mayer Brown

Interview with Bryan Mulcahey, Managing Partner of FS Vector

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Matt Bisanz interviews Bryan Mulcahey on his work with novel charters and the new Coalition for Financial Ecosystem Standards....more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2024 # 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

McGlinchey Stafford

Podcast: Deep Dive into Depository Services in Bank Partnerships [More with McGlinchey, Ep. 75]

McGlinchey Stafford on

The next installment in McGlinchey’s Deep Dive into Bank Partnerships Series features an overview of depository services, featuring insights from our attorneys Rachael Aspery, Brian Fink, and Aaron Kouhoupt. They explore key...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Proposes New Approach To Regulate ‘Buy Now, Pay Later’ Market Amid Rising Consumer Debt Concerns

In the UK, 14 million people used “buy now, pay later” (BNPL) at least once in the six months leading up to January 2023. Frequent users were more than four times as likely as other consumers to have missed a payment on a...more

Latham & Watkins LLP

CFPB Finalizes Open Banking Rule

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The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more

Troutman Pepper Locke

Exploring AI's Potential in Financial Services With John Sun of SpringLabs — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Partner Mark Furletti, and special guest John Sun, CEO and co-founder of SpringLabs. The discussion delves into the transformative...more

Troutman Pepper Locke

Georgia Grants Fiserv a Special Banking Charter: A Major Milestone for Fintech and Nonbank Direct Access to Card Networks

Troutman Pepper Locke on

In a significant development since our last post, Fiserv’s application for a merchant acquirer limited purpose bank (MALPB) charter has been approved by the Georgia Department of Banking and Finance. This approval marks a...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 47: The Future of Financial Services: AI, Bots and the Metaverse

David Birch, an internationally recognized thought leader in digital identity and digital money, joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to discuss the evolution of financial services in the metaverse, the...more

Troutman Pepper Locke

Where the F(BO) is the Money? Part 2 — Adopting the Right Lessons from Synapse

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This is the second of three articles focused on a key question: as bank-fintech partnerships continue to play a vital role in driving financial services, how does the industry make this system safer and better?...more

Goodwin

Double Clicking on Innovation in Consumer Finance: Responsible Use of AI

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Artificial intelligence (AI) is becoming ubiquitous across sectors, and the financial services industry is no exception. With the rise of AI, there is also an increase in scrutiny by regulators over its use....more

Holland & Knight LLP

CFPB Keeps to Its Word by Issuing Additional Buy Now, Pay Later Guidance

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purred by increased online and mobile app shopping during the COVID-19 pandemic, the Buy Now, Pay Later (BNPL) market has experienced higher growth and popularity as an innovative consumer finance offering, particularly for...more

Ballard Spahr LLP

CFPB’s Frotman: Companies are using technology to squeeze more out of those who can least afford it

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Innovation and technology are not the magic wands that will help low-income Americans climb out of debt; they often are tools used to prey on the neediest people, Seth Frotman, the CFPB’s general counsel told the Poverty Law...more

McGlinchey Stafford

Podcast: Deep Dive into the Regulatory Landscape of Bank Partnerships Featuring American Fintech Council CEO, Phil Goldfeder [More...

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McGlinchey attorneys Robert Savoie and Rachael Aspery are joined by Phil Goldfeder, the CEO of the American Fintech Council, in this installment of the Deep Dive into Bank Partnerships. The podcast focuses primarily on...more

Troutman Pepper Locke

Class Action Alleging Usurious Fees and Tips Filed Against FinTech Provider of Earned Wage Access Services

Troutman Pepper Locke on

A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 44: Principles Over Prescriptions: Rethinking Fintech Regulation

RegFi hosts Jerry Buckley and Sasha Leonhardt welcome Tom Brown, Partner and General Counsel at Nyca Partners, a venture capital firm specializing in fintechs. Tom provides a critical analysis of the current financial...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Why do Fintechs Want to Become Banks?

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A great number of fintechs are contemplating owning a bank or obtaining a banking charter—either a national bank charter, a state bank charter or a special purpose charter. In this episode, we are joined by our special guest...more

Mayer Brown

Interview with Jason Cave, Former Regulator Turned Industry Adviser

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Matt Bisanz interviews former financial regulator Jason Cave to discuss developments in resolution and recovery planning, as well as trends in third-party risk management....more

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