On December 7, 2021, the U.S. Treasury Department’s Financial Crimes Enforcement Network issued a highly-anticipated proposed rule that would implement key provisions of the Corporate Transparency Act, a law enacted earlier this year as part of the Anti-Money Laundering Act of 2020.
Consumer Protection Regulator Signals Increased Scrutiny of Payments Systems and Tech Companies
Under the leadership of its new Director, Rohit Chopra, the Consumer Financial Protection Bureau (CFPB) appears poised to take a more active supervisory and enforcement posture, including with respect to Fintech – a sector that has not historically been a focus for the agency. Since taking office on October 12th, Director Chopra has