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Chambers of Commerce and Banking Groups File Suit Against CFPB for Overstepping Its Authority With UDAAP Exam Manual Amendment

USA - September 29 2022 On September 28, the U.S. Chamber of Commerce (Chamber), together with the Longview Chamber of Commerce, American Bankers Association, Consumer…

Mark J. Furletti, Stefanie H. Jackman, Lori Sommerfield, Chris Willis

OCC Closely Watches as Banks and Fintech Partner

USA - September 13 2022 On September 6, Acting Comptroller of the Currency Michael Hsu warned that fintech and big Techs partnerships and their forays into payment and…

Jeremy T. Rosenblum, James W. Stevens, Mary C. Zinsner

California Publishes Notice of Proposed Rulemaking Regulating Student Loan Servicing

USA - September 12 2022 On August 30, the California Department of Financial Protection and Innovation (CA DFPI) published a notice of rulemaking action, proposing…

Stefanie H. Jackman, Chris Willis

Banking Groups Challenge CFPB’s RFI on Customer Service

USA - August 24 2022 Banking trade groups are challenging a Request for Information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) regarding customer…

David N. Anthony, Andrew B. Buxbaum, Susan E. Flint, Stefanie H. Jackman, Kalama M. Lui-Kwan, Glen P. Trudel, Chris Willis, Mary C. Zinsner

FHFA Establishes Office of Financial Technology and Issues RFI on Fintech in Housing Finance

USA - July 19 2022 On July 19, the Federal Housing Finance Agency (FHFA or the Agency) announced the establishment of the Office of Financial Technology to serve as a…

David N. Anthony, Mark J. Furletti, Chris Willis, Alan D. Wingfield