On Jan. 23, 2025, the U.S. Supreme Court granted the U.S. government’s request for a stay (SCOTUS Order) of the nationwide preliminary injunction of the Corporate Transparency Act (CTA) issued
Continue Reading CTA UPDATE: Enforcement Remains Suspended Despite U.S. Supreme Court Granting Stay of Preliminary Injunction
In late 2024, the United Kingdom’s Financial Conduct Authority (FCA) published a “Dear CEO” letter related to the FCA’s “Custody and Fund Services Supervision Strategy.” The letter shares the FCA’s
Continue Reading UK FCA Letter Expresses Concerns About Fund Service Providers
The Consumer Financial Protection Bureau (CFPB) said it plans to pursue rulemaking aimed at increasing the availability of deposited funds at banks and bringing larger non-bank personal lenders under the
Continue Reading CFPB Plans Personal Lender Oversight, Funds Access Rules
Federal and state “fair access” or “anti-debanking” laws and regulations have been evolving quickly over the last five years, closely tracking the changing U.S. political climate. These laws and regulations
Continue Reading US Fair Access and Anti-Debanking Laws: What to Expect Under the New Administration
To get ahead of potential staffing and priority changes under the new administration, on Jan. 14, 2025, the Consumer Financial Protection Bureau (CFPB) issued guidance to state attorneys general and
Continue Reading CFPB Guidance and State Consumer Protection: 2025 Considerations
In October 2024, the California DFPI finalized regulations for providers of income-based advances (Earned Wage Access or EWA), clarifying registration requirements under the California Consumer Financial Protection Law (CCFPL). These
Continue Reading California DFPI Finalizes New Earned Wage Access Regulations
The Commodity Futures Trading Commission (CFTC) undertook a series of initiatives in 2024 to address CFTC registrants’ and other industry participants’ use and application of AI technologies. While these actions
Continue Reading Reviewing 2024 CFTC AI Initiatives and Looking Ahead
On Dec. 26, 2024, the nationwide preliminary injunction that a Texas district court issued in Texas Top Cop Shop, Inc. v. Garland against enforcement of the Corporate Transparency Act (CTA)
Continue Reading CTA Update: Nationwide Preliminary Injunction Against CTA Reinstated
On Nov. 21, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule), pursuant to 12 U.S.C. § 5514(a)(1)(B), to establish supervisory authority over nonbank entities identified as
Continue Reading CFPB’s Final Rule Enhancing Oversight of Large Digital Payment App Providers Goes into Effect Jan. 9 – Are You Ready?
A Texas district court has issued a nationwide preliminary injunction four weeks before a key Jan. 1, 2025, reporting deadline for the Corporate Transparency Act (CTA) that, while in effect
Continue Reading Texas Court Blocks CTA Nationwide 4 Weeks Before Key Reporting Deadline