Payment Law Advisor Legal Commentary and Resources for the Payment Industry

Tag Archives: consumer

New CFPB Proposal to Overhaul Existing No-Action Letter Policy and Create a Federal Regulatory Sandbox

Posted in Regulatory and Compliance
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 po… Read the rest

CFPB Highlights Supervisory Findings Related to Credit Cards

Posted in Financial Services Litigation and Enforcement, Regulatory and Compliance
The Consumer Financial Protection Bureau’s (CFPB) most recent Supervisory Highlights report identified a number of areas of non-compliance by credit card issuers that were confidentially resolved in the supervisory process. These periodic reports are intended to identify potential areas of non-compliance observed in the marketplace by the CFPB… Read the rest

Consumer Financial Data Aggregation & the Potential for Regulatory Intervention

Posted in Regulatory and Compliance
I. Introduction A confluence of regulatory activity and policy debates seem to be laying the groundwork for future regulation of consumer financial data aggregation activities. The outcome of these activities could significantly affect how financial data may be shared by financial institutions, controlled by third-party data aggregators, and used… Read the rest