Student loan borrowers are increasingly looking for alternatives to government student loans. As the case over student loan forgiveness continues in the U.S. Supreme Court, federal regulators are cracking down on student loan originators who violate laws and regulations...
The financial services industry is experiencing shock waves following the recent Federal Deposit Insurance Corporation (FDIC) insured bank failures. At a rate unseen since the 2008 financial crisis, three regional banks have succumbed to liquidity challenges and...
The Federal Deposit Insurance Corporation (FDIC) is the insurer of the deposits for depository institutions. Non-financial companies are prohibited from representing that an uninsured product is FDIC insured, or using FDIC in the company’s name, advertisements...
The Commodity Futures Trading Commission recently issued guidance to protect consumers who comparison shop for mortgages and other real estate settlement services on pay-to-play digital comparison shopping platforms. This guidance clarifies violations under the...
Litigation and regulatory enforcement actions by federal and state regulators have dominated the news feeds in the past months. Review Practical Guidance’s cryptocurrency and litigation tracker, developed by Jason Gottlieb, Partner at Morrison Cohen LLP,...
Practical Guidance Financial Services Regulations now offers Financial Institution Regulations in its state law comparison tool, with coverage in five key states (FL, GA, MI, NY, and NJ) and more states coming soon. This tool provides state-specific guidance and...
Pursuant to the Corporate Transparency Act (CTA), certain reporting companies are required to submit beneficial ownership information (BOI) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) beginning January 1, 2024. FinCEN recently...
Open banking and the sharing of customer data with fintech third-party service providers presents a unique set of challenges and risks to financial institutions. Access this video, provided in collaboration with Crafty Counsel , to gain an understanding of the...
As the Consumer Financial Protection Bureau (CFPB) sets it 2023 consumer protection rulemaking and examination agendas, mortgage lending, mortgage servicing, the credit card accountability responsibility and disclosure act, and fair lending take top priorities...
Transnational criminal organizational activity (TCOA) is one of the biggest threats to the national security, foreign policy, and economy of the United States. How does TCOA affect financial institutions and what considerations are suggested to mitigate the risks...
The risk of drug trafficking activity is a top priority for U.S. regulatory agencies, as it generates the largest amount of illicit proceeds laundered in or through the U.S. financial system. The Treasury Department's Office of Foreign Assets Control (OFAC...
The Consumer Financial Protection Bureau (CFPB) recently ordered Wells Fargo to pay $3.7B in redress to consumers for fees obtained through illegal automobile and mortgage lending practices. The CFPB has authority granted under the Dodd-Frank Wall Street Reform...
LexisNexis® offers the Multilaw Global Guide: FinTech with coverage of countries in North and South America, Europe, and Asia. These Multilaw Global Guides provide the Fintech practitioner with a quick overview of the relevant legal and economic conditions...
FinCEN recently issued the final rule to implement the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting provisions. The CTA final rule establishes uniform (1) beneficial ownership and (2) company applicant reporting requirements...
Instituted by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), the Consumer Financial Protection Bureau (CFPB) is responsible for ensuring compliance with federal consumer protection laws and regulations related to consumer...