18 Feb 2025
CFPB Functions Paused: Fintechs Must Still Comply
Directives from the acting director of the Consumer Financial Protection Bureau (CFPB) bought the CFPB's supervisory, examination, investigations, communications, and enforcement functions to a halt on February 10, 2025. While this measure is promoted to reduce regulatory burdens, compliance with existing consumer protection rules is still required. CFPB issued a final rule in November 2024 which applies to big technology and companies offering digital payment applications. Access this Law360 article, How Fintechs Can Respond To New CFPB Supervisory Rule, which explores the ruling in more detail and includes measures that Fintech companies may employ to navigate this changing regulatory landscape
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- Consumer Financial Protection Bureau's Examination, Investigation, and Enforcement Authority
Review this practice note for a general refresher on federal banking agencies’ supervisory and enforcement authority granted by Congress.
- Legal Framework for U.S. Consumer Regulatory Law
Gain a comprehensive understanding of the legal framework for financial institutions and entities that provide consumer financial services. This practice note examines the role of the CFPB and other federal agencies in regulating consumer financial products and services.
- Bank Partnerships with Fintech Companies
Refer to this overview of the banking regulations applicable to the Bank-Fintech partnership model, as well as the regulatory considerations and implications emerging from this business model.
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