Newsletters

10.22.20

Security Implications of Extraterritorial Application of U.S. Law on Cryptocurrency Markets

Recent action by the U.S. government reminds us that engaging in the cryptocurrency markets continues to present counterparty risk in the context of with whom you are doing business.


08.27.20

CFPB Issues RFI on CARD Act Rules

In carrying out its statutory mandate, the CFPB has released a Request for Information (RFI) relating to the CARD Act, seeking information on two fronts.


07.29.20

New York Legislature Passes Bill Requiring Commercial Finance Disclosures

New York may soon be joining California in requiring consumer-like disclosures on commercial financing transactions.


05.14.20

CFPB News: Bureau Issues More Pandemic Guidance

As the profound impacts of COVID-19 become ever clearer, the Consumer Financial Protection Bureau (CFPB) continues its recent increase in activity in this space with a new statement and set of frequently asked questions (FAQs), outlining the responsibility of certain financial firms during the ...


02.05.20

Regulators to Major Online Payments Platform: Fix Your Charity Disclosures

Twenty-three state regulators have now reached a deal with a prominent online payments processor to address that company’s insufficient disclosures on its platform.


01.14.20

CFPB 2019 Year in Review and What to Expect in 2020

The Consumer Financial Protection Bureau (CFPB or Bureau) had an active 2019, and we review the most significant stories here. Likewise, we discuss the likely major developments expected in 2020, leading with the upcoming Supreme Court battle over CFPB constitutionality.


12.24.19

PayPal Hits CFPB With Lawsuit Over Prepaid Rule

PayPal, Inc., filed suit against the Consumer Financial Protection Bureau (CFPB) recently, challenging the Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z) Rules as a violation of its First Amendment rights.  


12.24.19

FDIC Proposes to Update Brokered Deposits Regs

In a notice of proposed rulemaking (NPRM), the Federal Deposit Insurance Corporation (FDIC) announced its plan to update its brokered deposits regulations.


08.28.19

Federal Reserve Warns of D&O Policy Exclusion Concerns

In a new letter to all financial institutions supervised by the Board of Governors of the Federal Reserve System, the Federal Reserve cautioned directors and officers about the potential limitations of director and officer (D&O) liability insurance policies.


08.28.19

Payroll Advance Industry in Regulators’ Crosshairs

The payroll advance industry is the subject of a newly announced multistate investigation seeking information to enable regulators to determine whether there is unlawful lending by online companies engaged in this business.