News & Analysis as of

Technology Banking Sector Consumer Financial Protection Bureau (CFPB)

Sheppard Mullin Richter & Hampton LLP

CFPB Report Targets Games and Virtual Worlds - What Blockchain Game and Metaverse Companies Need to Know

The Consumer Financial Protection Bureau (“CFPB”) published a report on Banking in Video Games and Virtual Worlds (“Report”) that warns of greater scrutiny of and enforcements against the financial services offered in games...more

Perkins Coie

CFPB Issues Proposed Open Banking Rule

Perkins Coie on

The Consumer Financial Protection Bureau (CFPB) announced that it was issuing a Notice of Proposed Rulemaking regarding Personal Financial Data Rights on October 19, 2023. The proposed rule (Proposed Rule) would implement...more

Bradley Arant Boult Cummings LLP

Chambers Global Practice Guide: Fintech 2021 Trends and Developments

Crisis has set the stage for fintech companies in 2021, creating both new opportunities and potentially unprecedented challenges to innovation. While the coronavirus pandemic continues to accelerate the digital transformation...more

Ballard Spahr LLP

Director Cordray and Comptroller Curry speak at LendIt USA conference

Ballard Spahr LLP on

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke....more

Ballard Spahr LLP

NYDFS, American Bankers Association Weigh In On OCC Fintech Charter Proposal

Ballard Spahr LLP on

The New York State Department of Financial Services (NYDFS) has come out strongly against an Office of the Comptroller of the Currency (OCC) proposal to grant national bank charters to financial technology (fintech)...more

Ballard Spahr LLP

Innovation versus consumer protection: emerging battle lines

Ballard Spahr LLP on

The announcement by the Office of Comptroller of Currency that it will allow financial technology (fintech) companies to apply for national bank charters as way of fostering “responsible innovation” has already drawn fire...more

Stinson LLP

Office of the Comptroller of Currency to Issue Charters to Fintech Companies

Stinson LLP on

On Friday, December 2, the Office of the Comptroller of Currency (OCC) announced that it would start considering applications for special purpose national bank charters from financial technology (fintech) companies. The OCC...more

Ballard Spahr LLP

Brookings to hold Oct. 13 fintech event

Ballard Spahr LLP on

On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C. titled: “How to make fintech work for all Americans.” Speakers include industry representatives and an FDIC representative. Brookings...more

Bradley Arant Boult Cummings LLP

CFPB Sends Clear Message That FinTech Start-Ups Have Same Obligations as Established Companies

In a clear message to FinTech start-ups, on September 27, 2016, the Consumer Financial Protection Bureau (CFPB) ordered online lender Flurish, Inc. to pay $1.83 million in refunds and a civil penalty of $1.8 million for...more

Ballard Spahr LLP

CFPB Highlights Mortgage Servicing Examination Findings and Technology Issues

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In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination...more

Burr & Forman

Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot

Burr & Forman on

The Consumer Financial Protection Bureau (CFPB) released a special edition of its supervision report, honing in on mortgage servicers on June 22nd. It blamed outdated technology and process breakdown for trends it has seen...more

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