Weekly Fintech Focus

• Senators seek information about the CFPB’s agenda for fintech
• OCC’s Acting Comptroller testifies before the Senate
• Financial regulators updated guidance on authentication and access to services
• FTC supports Fed’s efforts to update Regulation II to improve compliance

…
Continue Reading Fintech Legal Report—Week of August 27

Weekly Fintech Focus

• President Biden issues an executive order on competition with implications on open banking, UDAAP enforcement, and pricing disclosures.
• Federal banking regulators seeking to standardize guidance on third-party risk management, seek public comment.
• FFIEC updates and expands the

…
Continue Reading Fintech Legal Report—Week of July 16

Weekly Fintech Focus

• A buy-now pay-later company faces a potential class action alleging it hid the risk of overdraft and NSF fees from its users.
• Leaders of the CFPB’s Fair Lending Office published an article encouraging the use of special

…
Continue Reading Fintech Week in Review: Week of June 25, 2021

Weekly Fintech Focus

• Federal financial regulators extend the deadline for responding to its request for information about financial institutions’ use of AI.
• The CFPB issued FAQs on electronic funds transfers under EFTA and Regulation E to address issues related to

…
Continue Reading Fintech Week in Review: Week of June 11, 2021

Weekly Fintech Focus

• The Federal Reserve seeks comment on new guidelines for Fed Regional Banks to consider when deciding whether to extend Fed membership or services to nontraditionally chartered entities.
• California DFPI enters a settlement with a fintech company to

…
Continue Reading Fintech Week in Review: Week of May 7, 2021

Weekly Fintech Focus

• CFPB issues an analysis of its complaints database that shows predominantly minority counties issue more complaints to the CFPB than predominantly non-minority counties.
• FDIC to host virtual office hours focused on the use of AI/ML in banking.

…
Continue Reading Fintech Week in Review: Week of April 30, 2021

Weekly Fintech Focus

• FDIC discusses its fair lending activities in the most recent edition of its Consumer Compliance Supervisory Highlights.
• US and EU engage in a joint regulatory forum to discuss international coordination on financial regulation and operational resiliency.
• BCBS

…
Continue Reading Fintech Week in Review: Week of April 16, 2021