In a special edition of our FinTech Pulse podcast series, US partners Stephen Aschettino, Andrew Lom and Kevin Harnisch discuss the recent uptick in regulatory enforcement activity from federal regulators against crypto exchanges, with the SEC issuing a Wells Notice to Coinbase and suing Beaxy, and the CFTC suing Binance and seeking permanent injunctions to … Continue Reading
On March 2, 2023, the Consumer Financial Protection Bureau (CFPB) published a new report analyzing the financial profiles of Buy Now, Pay Later (BNPL) borrowers. While the report finds that many BNPL borrowers who the CFPB observed used the product without any noticeable indications of financial stress, BNPL borrowers were, on average, much more likely … Continue Reading
As we reported previously, a three-judge panel of the US Court of Appeals for the Fifth Circuit ruled on October 19, 2022 that the current funding mechanism for the Consumer Financial Protection Bureau (CFPB) is unconstitutional. Specifically, in Community Financial Services Association of America v. Consumer Financial Protection Bureau, the court held that the CFPB’s … Continue Reading
A three-judge panel of the US Court of Appeals for the Fifth Circuit ruled on October 19 that the current funding mechanism for the Consumer Financial Protection Bureau (CFPB) is unconstitutional. Specifically, in Community Financial Services Association of America v. Consumer Financial Protection Bureau, the court held that the CFPB’s independent funding through the Federal … Continue Reading
The bumper crop of podcasts continues this week with the release of Episode 10 of the Regulation Tomorrow monthly podcast. In this episode we hear from Norton Rose Fulbright’s US Head of Fintech, Steve Aschettino, who gives an overview of the payments landscape in the US and some of the prevailing trends in the area. … Continue Reading
