Five Mayer Brown attorneys in the Financial Services Regulatory & Enforcement group presented at the American Bar Association Business Law Section Annual Meeting in Boston last week.
Ori Lev spoke on a panel discussing the CFPB’s enforcement track record. The panel addressed a study by Professor Chris Peterson of the S.J. Quinney College of Law at the University of Utah that provided an empirical analysis of the CFPB’s enforcement cases and Ori’s analysis of the CFPB’s use of its new abusiveness authority.
Matthew Bisanz moderated, and Jeff Taft participated on, a Banking Law Committee panel discussion of current cybersecurity issues for large financial institutions, including the regulatory and enforcement posture of the federal banking agencies; examiner expectations; government response to cyber events at financial institutions; and the relevance of the CFPB’s consent order against Dwolla to larger banking organizations.
David Beam moderated a panel on legal issues presented by various applications of blockchain technology, particularly in connection with consumer financial products. Panelists included representatives of American Express Company, Capital One, and the Federal Trade Commission.
Alicia Kinsey spoke on a panel discussing BSA/AML compliance challenges for community banks, which included a discussion of FinCEN’s new customer due diligence rule, NYDFS AML/sanctions rule on transaction monitoring and filtering programs, as well as observations on AML compliance issues from regulators from the FRB and NCUA.