On Sept. 18, 2023, the New York State Department of Financial Services (NYDFS) issued a press release announcing updates to its ongoing oversight of the digital asset space, including (1)
Continue Reading NYDFS Updates Guidance on Virtual Coin-Listing/Delisting Frameworks and the Greenlist
On Sept. 21, 2023, the CFPB outlined new proposals aimed at medical bills and the broader credit reporting landscape, which could have far-reaching implications for creditors, consumers, and the industry
Continue Reading CFPB Proposes Changes to Fair Credit Reporting Act to Remove Medical Debt from Credit Reports
By a 3-2 party-line vote, on Aug. 23, 2023, the Securities and Exchange Commission adopted some of the most significant new rules under the Investment Advisers Act of 1940, as
Continue Reading Private Fund Adviser Rulemaking![cybersecurity[1]](https://www.gtlaw-financialservicesobserver.com/files/2022/02/cybersecurity1.jpg)
On July 27, 2023, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued an interagency
Continue Reading Federal Banking Agencies Propose New Rules to Strengthen Capital Requirements for Large Banks
On July 26, 2023, the Securities and Exchange Commission (SEC) adopted the long-awaited final rule requiring that public companies disclose information about cybersecurity incidents within four business days of determining
Continue Reading SEC Finalizes Cyber Rules for Public Companies: What You Need to Know
On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank, Santa Clara, CA (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) receiver of
Continue Reading The 2023 Banking Crisis: Updated Questions & Answers for Insured and Uninsured Depositors, Other Affected Parties
On April 3, 2023, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a policy statement explaining the prohibition against abusive conduct in consumer financial markets, attempting to bring clarity
Continue Reading CFPB Policy Statement Aims to Clarify Prohibition on Abusive Conduct in Consumer Financial Markets
On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank, Santa Clara, California (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver
Continue Reading The 2023 Banking Contagion: Questions & Answers for Insured and Uninsured Depositors, Other Affected Parties
New York is now poised to impose Truth-in-Lending-like disclosure obligations on various types of commercial financing. On Feb. 1, the New York Department of Financial Services adopted final regulations implementing
Continue Reading New York Set to Join the Fray: NYDFS Finalizes Commercial Financing Disclosure Regulation
On Oct. 23, 2020, the U.S. Department of the Treasury, Financial Crimes Enforcement Network (FinCEN) and the Board of Governors of the Federal Reserve System (FRB) (FinCEN and the FRB