Weekly Fintech Focus

  • President Biden issues an executive order on competition with implications on open banking, UDAAP enforcement, and pricing disclosures.
  • Federal banking regulators seeking to standardize guidance on third-party risk management, seek public comment.
  • FFIEC updates and expands the Operations Booklet of its IT Examination Handbook to address technology risk management expectations for cloud computing and other evolving technologies.
  • FinCEN issues a list of AML priorities as well as considers engaging in a no-action letter process.
  • Colorado becomes the latest state to repeal its ban on credit card surcharges.
  • President Biden signs Congressional Review Act resolution rescinding OCC’s True Lender Rule—now what?

Continue Reading Fintech Legal Report—Week of July 16