• 10.10.18

    Card Networks and Merchants Reach New Settlement Terms

    Will the second time be the charm? Two credit card networks and merchants representing the class suing them reached a revised agreement to put an end to a 13-year-old antitrust class action concerning the interchange fees merchants must pay and the card network rules imposed on merchants.  

  • 08.29.18

    FinCEN Director Gets Real About Virtual Currency

    Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco recently discussed his agency’s efforts in the area of virtual currency, explaining the fine line between encouraging innovation and protecting consumers.

  • 07.05.18

    CFPB News: More Reports, Settlements and Actions Dropped

    In another news-heavy cycle, the Bureau of Consumer Financial Protection (CFPB) released a report on year-end credit card borrowing, dropped a potentially major RESPA-based investigation on co-marketing practices, and reached two major settlements.

  • 06.06.18

    Fintech Update: Regulators Join Together for Fintech Oversight

    A key regulator has announced a cryptocurrency crackdown in conjunction with Canadian as well as U.S. federal and state regulators.

  • 03.28.18

    New FTC Act Enforcement by FDIC and FTC

    Although the CFPB may be retreating from exercising its authority to enforce UDAAP violations under the Dodd-Frank Act, Section 5 of the FTC Act continues to be a potent weapon used by regulators, including the FDIC.

  • 01.11.18

    2017 Year in Review: Developments in Payments

    2017 was a year of continued innovation in the payments space as the adoption of digital payments continued to increase.

  • 08.17.17

    Forecast: Abundance of Potential New Rulemaking From the CFPB

    After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies on notice about forthcoming rules on payday, title, high-cost installment ...

  • 07.10.17

    Treasury Spends Ink on Regulatory Changes

    The Treasury Department, in the first of four reports to President Trump detailing its review of financial regulations and its recommendations about potential changes to the depository system, proposed major changes in the Consumer Financial Protection Bureau (CFPB) structure as well as a ...

  • 07.10.17

    Financial Services Law—CFPB Bans Most Consumer Arbitrations

    Today, and to no one’s surprise, the Consumer Financial Protection Bureau (CFPB) announced a final rule that prevents banks and other covered providers of specified consumer financial products from incorporating or enforcing predispute mandatory arbitration to the extent that the clause bars ...