On Jan. 25, 2024, the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI) and the Hawaii Technology Development Corporation (collectively, the “Agencies”) jointly issued a press
Continue Reading Hawaii’s Money Transmitters Modernization Act Will No Longer Apply to Cryptocurrency Activities
This 5 Trends piece covers non-financial misconduct, the Senior Managers and Certification Regime, FCA investigations and Upper Tribunal proceedings, motor finance, and FCA Sustainability Disclosure Requirements.
Continue Reading 5 Trends to Watch: 2024 UK Financial Services Regulation
On Jan. 19, 2024, the Federal Deposit Insurance Corporation (FDIC) issued letters demanding five entities and certain associated parties cease and desist from making false and misleading statements about FDIC
Continue Reading FDIC Issues Cease and Desist Letters to 5 Entities for Making False or Misleading Representations Regarding Deposit Insurance
In a move that could reshape the landscape of consumer finance, on Jan. 17, 2024, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that aims to redefine overdraft
Continue Reading CFPB Proposes Rule to Reclassify Overdraft Fees Under TILA
On Dec. 22, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a final rule (Access Rule) establishing the parameters for authorized access to BOI reported
Continue Reading FinCEN Publishes Final Rule on Access to Beneficial Ownership Information
Starting Jan. 1, 2024, the Corporate Transparency Act and its implementing regulations mandate that certain U.S. legal entities and foreign entities registered to do business in the United States (collectively
Continue Reading Corporate Transparency Act Takes Effect with Beneficial Ownership Reporting Requirements
The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2024 examination priorities (Exam Priorities) in October. In 10 years of priority announcements, this is by far the
Continue Reading SEC Division of Examinations 2024 Priorities
Effective Jan. 1, 2024, the Corporate Transparency Act (CTA) will require certain U.S. legal entities and foreign entities registered to do business in the United States (collectively, Reporting Companies) to
Continue Reading FinCEN Extends Beneficial Ownership Reporting Deadline for Newly Formed Companies
On Oct. 13, 2023, California Governor Gavin Newsom signed CA AB39, the Digital Financial Assets Law (DFAL), which is the first comprehensive framework to regulate the digital asset market
Continue Reading California Enacts Digital Assets Licensing Law
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