On March 8, 2023, the Consumer Financial Protection Bureau (CFPB) released the Supervisory Highlights Junk Fees Special Edition (Report) detailing unlawful fees the agency found in deposit accounts and in
Continue Reading CFPB Issues Report on Unlawful ‘Junk Fees’ Uncovered in Deposit Accounts, Multiple Loan Servicing Markets
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
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 Oct. 3, the Financial Stability Oversight Council (FSOC) took another step in identifying, assessing, and responding to the risks various types of digital assets pose to the financial system
Continue Reading Digital Assets: Financial Stability Oversight Council Risk Report Assesses Regulatory Gaps; Offers Recommendations
In 2015, the New York Department of Financial Services (NYDFS) finalized rules creating the BitLicense for virtual currency exchanges operating in New York state. New York is currently the only
Continue Reading New York State Department of Financial Services Proposes Framework for a Conditional BitLicense
Many counterparties are dealing with the impact of market volatility, unprecedented margin calls and the combined effects on their financial contracts, many of which are active master agreements executed years
Continue Reading Prioritize Monitoring Financial Contracts
On May 9, 2019, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) issued “interpretive guidance” addressing how FinCEN’s money services business (MSB) regulations apply to
Continue Reading FinCEN Issues Guidance on Application of Regulations to Certain Business Models Involving Convertible Virtual Currencies
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On Dec. 20, 2018, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission
Continue Reading SEC’s Office of Compliance Inspections and Examinations Releases 2019 Examination Priorities