News & Analysis as of

FinTech Credit Cards

Troutman Pepper

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

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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

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

Hudson Cook, LLP

CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

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In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more

Hudson Cook, LLP

CFPB Bites of the Month - February 2024 - "I Got You, CFPB".

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In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more

Goodwin

Payment Trends in 2024

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This edition of Fintech Flash identifies key issues we anticipate will impact the payments industry in 2024. First, the payments regulatory landscape continues to evolve, with a number of proposed rulemakings published by the...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 18: Credit Unions, Fintech and Financial Innovation with Rodney Hood

Credit unions have been a crucial component of the American financial services ecosystem for over a century. Rodney Hood – former Chair of the National Credit Union Administration (NCUA) – joins RegFi co-hosts Jerry Buckley...more

Alston & Bird

Payments Docket – December 2023

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The latest edition of the Payments Docket, our roundup of key litigation involving the payments industry, features fintechs and nonbanks continuing to face regulatory scrutiny, a pair of processors failing to process...more

Cozen O'Connor

Cozen Currents: It's Still the Economy, Stupid

Cozen O'Connor on

The Cozen Lens- • As James Carville quipped in 1992, “It’s the economy, stupid.” This likely still holds true for 2024. • Former South Carolina Governor Nikki Haley’s (R-SC) campaign for the GOP presidential nomination...more

White & Case LLP

CFPB Takes Aim at Major Online Payments Applications for Digital Payments; Spares Crypto Companies

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On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") proposed a new rule, to be codified at 12 C.F.R. § 1090.109, that would bring general-use digital payment processors who process more than five million...more

Jones Day

CFPB Seeks to Expand Regulatory Powers Over Consumer Payment Tech Entities

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On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more

Goodwin

FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance

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Regulatory Developments - FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance - On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more

Davis Wright Tremaine LLP

May 2023 UDAAP Bulletin

The following document provides a monthly roundup summarizing enforcement actions, guidance, rulemakings, and other public statements from the Consumer Financial Protection Bureau and the Federal Trade Commission regarding...more

Alston & Bird

Payments Docket - May 2023

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The latest edition of the Payments Docket, our roundup of key litigation involving the payments industry, features fintechs and nonbanks continuing to face regulatory scrutiny, crypto going bankrupt, and banks are paying for...more

Goodwin

2022 Year In Review - Consumer Finance

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2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 2, February 2023

Community Banks Renew Fight Against ILCs - “ICBA reiterates opposition to non-bank-owned lenders’ applications to the FDIC, naming GM, Ford, Rakuten.” Why this is important: The Independent Community Bankers of...more

Perkins Coie

Fintech Legal Report - January 2023

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CFPB Seeks Public Input on Consumer Credit Card Market - On January 24, the Consumer Financial Protection Bureau (CFPB) issued a request for information seeking public feedback on how the consumer credit market is...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Round up of Q2 updates coming out of the CFPB

Take-aways From Director Chopra’s Semi-Annual Report to Congress - On April 6, 2022, the Consumer Financial Protection Bureau (CFPB) issued its semi-annual report to Congress required under Dodd-Frank....more

Perkins Coie

Fintech Legal Report - May 2022

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CFPB Director Chopra Plans to Review CARD Act Rules - The day after a tough hearing with the Senate Banking Committee, on April 27, 2022, the House Financial Services Committee held a hearing in which Consumer Financial...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

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Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

Wiley Rein LLP

Wiley Consumer Protection Download (December 13, 2021)

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Thank you for your interest in the Wiley Consumer Protection Download! This will be our last publication of 2021, with our bi-weekly newsletter returning in January 2022. Welcome to Wiley’s update on recent developments...more

Perkins Coie

Fintech Week in Review - March 2021 #3

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Visa and Mastercard Delay Hike to Interchange Fees—US and UK Developments Visa and Mastercard announced on March 16 that they have postponed the scheduled plan to boost interchange fees, i.e., fees that U.S. merchants pay...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 4 - February 2021

“Just Send a Venmo!”…To a Collection Agency? As a result of COVID-19, many businesses are leery of handling cash, credit cards, or debit cards, and consumers feel concerned about using paper money and coins. It is...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

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In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

Perkins Coie

Fintech Week in Review - December 2020 #2

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House Financial Services Committee Sets Fintech Priorities for a New Administration - House Financial Services Committee Chairwoman Maxine Waters sent a letter to the incoming administration with nearly 50 pages of...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 8, October 2020

Servicemembers’ Civil Relief Act - What You Need to Know - Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more

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