On Jan. 3, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively

Continue Reading Federal Reserve, FDIC, and OCC Issue the First Joint Statement on Crypto-Asset Risks to Banking Organizations

After years of rulemaking efforts, the Consumer Financial Protection Bureau (CFPB) may issue a final rule later this month that would require lenders to collect and report data on small

Continue Reading Small Business Lenders: CFPB’s Anticipated Section 1071 Rule Would Impose New Data Collection, Reporting Obligations

On Dec. 15, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking implementing the provisions of the Corporate Transparency Act that

Continue Reading FinCEN Proposes Rule on Access to Beneficial Ownership Information

Go-To Guide:

  • CFPB proposes rule requiring nonbanks to “register” with the CFPB if they include certain terms and conditions in their form contracts, including in their website terms of use
Continue Reading CFPB Says ‘Show Me The (Consumer Unfriendly) Fine Print’

1. Non-financial misconduct – FCA guidance expected

It is anticipated that in 2023 the Financial Conduct Authority (FCA) will provide further guidance on the increasingly uncertain question of what kinds

Continue Reading 5 Trends to Watch: 2023 UK Contentious Financial Regulation

On Nov. 9, 2022, the New York Department of Financial Services (NYDFS) issued a proposed second amendment to its 2017 cybersecurity regulation for financial service companies.[1] In July 2022

Continue Reading NYDFS Proposes Significant Changes to Its Cybersecurity Regulation