To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
IRS Finalizes New Rules for DeFi Brokers: Challenge Immediately Filed in Texas Federal Court
Last week, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of the new rules, which are part of the Biden-Harris Administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act, is to streamline tax reporting and ensure compliance within the decentralized finance (DeFi) sector. The regulations will become effective 60 days after their publication in the Federal Register.
Troutman Pepper Weekly Consumer Financial Services Newsletter – December 24, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Troutman Pepper Weekly Consumer Financial Services Newsletter – December 17, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Understanding the DFPI’s Proposed Rules: A Deep Dive Into California’s Digital Financial Assets Law
In this special crossover episode of the Payments Pros and Crypto Exchange podcasts, our hosts are joined by colleague Alexandra Steinberg Barrage to discuss California’s Department of Financial Protection and Innovation’s proposed rulemaking under the Digital Financial Assets Law (DFAL).
Understanding the DFPI’s Proposed Rules: A Deep Dive Into California’s Digital Financial Assets Law
In this special crossover episode of the Payments Pros and Crypto Exchange podcasts, our hosts are joined by colleague Alexandra Steinberg Barrage to discuss California’s Department of Financial Protection and Innovation’s proposed rulemaking under the Digital Financial Assets Law (DFAL).
CFPB Initiates FCRA Rulemaking to Address Coerced Debt
On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial abuse.
Troutman Pepper Weekly Consumer Financial Services Newsletter – December 10, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
CFPB Finalizes Rule on Federal Oversight of Digital Payment Apps
Late last year, we discussed the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposed rule aimed at supervising larger technology companies offering digital wallets and payment apps. On November 21, the CFPB finalized this rule, which will bring significant changes to the oversight of nonbank digital payment companies. This final rule is set to take effect 30 days after its publication in the Federal Register.
The CFPB Proposes New FCRA Rule to Dramatically Expand Its Scope, Though Finalization is Unlikely
On December 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule for public comment aimed at amending Regulation V, which implements the Fair Credit Reporting Act (FCRA). The proposed rule seeks to redefine (and, in some cases, rewrite) key terms and provisions within the FCRA, particularly focusing on the activities of purported “data brokers.”