On Oct. 23, 2023, FinCEN published an NPRM that identifies international CVC mixing as “a class of transactions of primary money laundering concern,” and finds that imposing additional recordkeeping andContinue Reading FinCEN Proposes Rule to Address Money Laundering and Terrorist Financing Risks Associated with CVC Mixing
On Nov. 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a high-level overview of the topics covered in its proposed Personal Financial Data Rights rule: Fast Facts: Personal Financial…Continue Reading CFPB Issues ‘Fast Facts’ for Proposed Personal Financial Data Rights Rule
On Oct. 26, 2023, the U.S. District Court for the Southern District of Texas issued a nationwide injunction prohibiting the Consumer Financial Protection Bureau (CFPB) from implementing or enforcing its…Continue Reading Court Issues Nationwide Stay of CFPB’s Section 1071 Small Business Lending Rule
On Oct. 25, 2023, the Fed proposed a rule to lower the interchange fee cap in Regulation II, which is largely applicable to debit card issuers with at least $10…Continue Reading Fed Issues Proposed Rule Lowering Regulation II’s Debit Interchange Cap
Join GT Shareholders Kate Kalmykov and William Mack, along with America EB-5 Visa, LLC’s CEO Marko Issever, for an informative discussion about targeted investment with a FINRA-licensed broker-dealer.
The panel will…
On Oct. 19, 2023, the CFPB released a proposed rule that, if finalized in its present form, would require covered financial institutions to provide consumers and authorized third parties with…Continue Reading CFPB Issues Proposed ‘Personal Financial Data Rights’ Rule
On Oct. 3, 2023, the U.S. Supreme Court heard oral arguments in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) (Docket No. 22-448), a case that raises the question of whether the CFPB’s funding structure, by which it receives funding directly from the Federal Reserve rather than via a congressional appropriation, violates the U.S. Constitution’s Appropriations Clause and, if so, what the appropriate remedy should be.
Continue Reading Supreme Court Hears Oral Argument on Constitutionality of CFPB’s Funding
The Securities and Exchange Commission (SEC)’s Spring 2023 Unified Agenda of Regulatory and Deregulatory Actions (the Agenda) forecast a busy fall for the regulator, with many of the 55 final…Continue Reading Assessment of the SEC’s Progress on Its 2023 Rulemaking Agenda
On Oct. 7, 2023, California Governor Gavin Newsom signed SB 478 into law. When it becomes effective July 1, 2024, the law will amend the CLRA to generally ban so-called…Continue Reading California Bans Hidden Fees, Effective July 1, 2024
On Oct. 11, 2023, the FTC released a proposed rule that would, if finalized in its present form, prohibit “misleading” fees and require more prominent disclosures for so-called “junk fees.”…Continue Reading FTC Proposes Rule Targeting ‘Junk Fees’