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
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
In a Halloween-eve move sure to send shivers down the spines of every public company’s CISO, on Oct. 30, the SEC filed a securities fraud complaint targeting SolarWinds’ CISO in
Continue Reading Chief Information Security Officers in SEC Crosshairs: The SolarWinds Case
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. 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 and
Continue Reading FinCEN Proposes Rule to Address Money Laundering and Terrorist Financing Risks Associated with CVC Mixing
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. 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’