On March 7, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it will begin collecting complaints from consumers about online marketplace lenders, signaling its intention to increasingly regulate the evolving and growing Financial Technology (Fintech) industry. The CFPB announcement emphasized that marketplace lending is “a relatively new kind of…
On March 12, 2015, the Senate Intelligence Committee took an important step in advancing a comprehensive bill titled the Cybersecurity Information Sharing Act of 2015 (“CISA”) aimed at bolstering U.S. companies and the federal government’s cyber security protections. But some privacy watchdogs and other government officials are openly wondering whether…
On January 15, 2015, New York’s attorney general, Eric Schneiderman, proposed a new law that NY hopes will balance business and consumer interests while establishing New York as a leader in data security. The main effect of the proposed legislation would be to expand the definition of private information to…
On June 11, as a result of the growing use of mobile banking services across the country, the CFPB announced that it was conducting a request for information into the benefits and consequences of expanding mobile financial services. Its focus is underserved and remote communities, but any actions the CFPB…