Publications
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04.17.2024CFPB Issues New Report Examining Financial and Privacy Risks to Consumers in Video Gaming Marketplaces: What Now?BlogsOn April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and virtual worlds.
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12.19.2023Corporate Transparency Act Will Require Disclosure of Senior Officers and Directors of Many US and Foreign CompaniesUpdatesThis Update discusses how the Corporate Transparency Act rules will affect directors and senior officers of CTA reporting companies, in particular. All senior officers, directors and their advisers, and counsel should be aware of these rules and potential implications.
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12.04.2023CFPB Proposes Federal Oversight of Digital Wallet and Payment App ProvidersUpdatesThe Consumer Financial Protection Bureau (CFPB) published a proposed rule on November 7, 2023, that, if finalized, would subject to its supervisory authority certain Big Tech firms and other nonbank companies operating in the payments sphere.
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06.06.2023Final Interagency Third-Party Risk Management Guidance Issued on June 6, 2023: Implications for Banks and FinTech CompaniesArticles
Perkins Coie LLP
There is an adage among regulators, “same risks, same rules” or “leveling up,” and on June 6 the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (FRB), and Federal Deposit Insurance Corporation (FDIC) (together, the “Agencies”) issued final interagency guidance on managing the risks associated with third-party relationships (Final Guidance). -
10.04.2021AMLA 2020 Series Part 3: FinCEN Issues Notice of Proposed AML Rules for Antiquities DealersUpdatesOn New Year’s Day 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA 2020).
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04.12.2021The Anti-Money Laundering Act of 2020: A Survey of Key Provisions and Practice TakeawaysUpdatesOn New Year’s Day 2021, Congress overrode a presidential veto to pass the Anti-Money Laundering Act of 2020 (AMLA 2020), which amends and modernizes the Bank Secrecy Act (BSA).
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05.28.2020COVID-19: Reserve Issues in Credit Card Processing AgreementsUpdatesCOVID-19’s effect on the economy does not discriminate. Business activity has slowed down significantly for many companies, and even more drastically in certain sectors.