On January 24, 2019, Judge Margo K. Brodie of the U.S. District Court for the Eastern District of New York granted preliminary approval of Visa and Mastercard’s second attempt to settle the 13-year old antitrust litigation brought by approximately 12 million merchants, alleging that Visa, Mastercard, and several issuing and ...
Developments and Commentary
Juliana Gerrick on Jan 30, 2019
On November 15, 2018, the Board of Governors of the Federal Reserve System (Board) published in the Federal Register its request for public comment on potential actions the Federal Reserve could take to “promote ubiquitous, safe, and efficient faster payments in the United States by facilitating real-time interbank settlement of ...
New CFPB Proposal to Overhaul Existing No-Action Letter Policy and Create a Federal Regulatory Sandbox
Rich Zukowsky on Dec 19, 2018
FinTech appears to be the next industry set to benefit from the Trump administration’s ongoing deregulatory push. The Bureau of Consumer Financial Protection’s (“Bureau”) long-gestating update to the Obama era no-action letter policy was announced as one of the final acts of outgoing Acting Director Mick Mulvaney. Though no-action letter ...
Earlier this month, the Federal Deposit Insurance Corporation (FDIC) published a Request for Information (RFI) seeking public comment on issues related to small-dollar lending by FDIC-supervised financial institutions. Specifically, the RFI solicits comments about “consumer demand for small-dollar credit products, the supply of small-dollar credit products currently offered by banks, ...
Davis Wright Tremaine on Nov 05, 2018
On September 10, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) published a notice of proposed policy guidance to create a “Disclosure Sandbox.” The proposed policy to provide a Disclosure Sandbox would be designed to allow a covered person to apply for a “trial disclosure program waiver” that, generally speaking, ...
Davis Wright Tremaine on Feb 15, 2019
On February 14, 2019, DWT FinTech co-chair Andy Lorentz gave a presentation on lessons learned from recent BSA/AML enforcement actions–a continued area of emphasis in a de-regulatory climate–to the Innovative Payment Alliance Financial Crimes Task Force. To view the presentation materials, please click here.
Davis Wright Tremaine on Jan 07, 2019
On December 27, 2018, Thomson Reuters published a new Consumer Financial Services Law Report, which highlights significant caselaw and emerging trends. Their latest report features an article written by a few of our payments members: Bradford Hardin, Jonathan Engel, and Juliana Gerrick, titled “States Diverge from Federal Regulators on Disparate ...
On November 6, 2018, DWT’s Project W hosted the third FinTech Women event of the year, featuring a panel discussion titled “State of the FinTech Ecosystem: the FI Perspective.” The panelists represented a wide cross-section of financial institutions engaged in the FinTech ecosystem, including a large national bank, a growing ...
Davis Wright Tremaine on Nov 09, 2018
On Thursday, November 8, DWT FinTech team co-leader Andy Lorentz took part in the Commerce.Innovated Class 8 Demo Day in New York City. Andy led a discussion on legal developments in FinTech, with a focus on federal regulatory rollbacks, an update on federal enforcement activities, a discussion of the regulatory ...
Davis Wright Tremaine on Aug 15, 2018
On July 30, DWT payments member Robin Nunn spoke on a panel focused on Artificial Intelligence and Machine Learning at the National Bar Association’s (NBA) 93rd Annual Convention & Exhibits. The panel discussed a range of questions, including, “What is AI? How are existing laws affected by AI? Who should ...
Our Payments Team addresses changes and continuities in the payments industry every day—leveraging our many years of industry experience and our presence on both coasts and in China. On paymentlawadvisor, we offer commentary on new developments that seem particularly significant, as well as resources that we believe can be helpful to others who are tasked with anticipating, understanding and addressing these developments.
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RT @FTconnector: Talking about The Evolution of AI in Finance last week @DWTLaw in NYC #finance #ArtificialInteligence #fintech https://t.co/QoKk4kUHhe
4 months ago
RT @PaulMoniz1: What’s next in #FinTech? Panel hosted @DWTLaw discussing FinTech 1 and FinTech2. Thx to @NYPAYGROUP for sponsoring.… https://t.co/bPcftlQy9F
4 months ago
RT @s_sboo: @DWTLaw's own Robin Nunn will be discussing FinTech Products and Services at @ABABusLaw's 9th Institute on Consumer… https://t.co/Kbu5rcDQ7s
5 months ago
We invite you to join @DWTlaw partner Jonathan Engel at @ABABusLaw’s annual meeting in Austin Sept 13-15. Jonathan… https://t.co/RdYZBdMjvM
5 months ago
Next up: @DWTLaw partner Robin Nunn explores #AI issues at the @nationalbar 93rd Annual Convention on 7/30. Join Ro… https://t.co/VcB2Nuwp1Q
7 months ago