May 17, 2023 | Federal Regulation, News
NY AG James Releases Draft Legislation to Regulate Crypto New York Attorney General Letitia James, recently proposed a state law entitled The Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act, which would require independent audits of crypto...
May 5, 2023 | Banks & Credit Unions, Federal Regulation, News
FDIC and OCC Take Aim at Certain Overdraft Practices Last month, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) warned financial institutions about overdraft practices that they consider unfair or deceptive, saying...
Apr 24, 2023 | Federal Regulation, News
Yellen Warns of Tougher Lending Environment in Aftermath of Bank Failures Following the recent failures of Silicon Valley Bank and Signature Bank, U.S. Treasury secretary Janet Yellen warned that a tougher lending environment could affect the Federal Reserve’s...
Apr 21, 2023 | Federal Regulation, News
CFPB Reveals Massive Data Breach Last month, a former employee of the Consumer Financial Protection Bureau (CFPB) forwarded confidential information of over 250,000 consumers to a personal email account, an incident that the CFPB considered a “major” data breach. The...
Apr 10, 2023 | Federal Regulation, News
CFPB Releases Policy Statement on Abusive Acts or Practices Last week, the Consumer Financial Protection Bureau (CFPB) issued a policy statement reminding lenders of its prohibition against abusive acts and practices in the consumer financial market, which was created...
Apr 5, 2023 | Federal Regulation, News
CFPB Finalizes Rule on Small Business Lending Data Last week, the Consumer Financial Protection Bureau (CFPB) finalized a rule that they say will increase transparency with small business lending, fight against unlawful discrimination, and promote economic...
