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Publications | January 12, 2024

CFPB As Pay App Watchdog May Invite More Fintech Regs

Authors

Alan Cohn, Andrew Owens, Coy Garrison, Evan T. Abrams, Sophia Breggia, Vito Arethusa

Overview

Members of Steptoe’s Financial Services team, partners Alan Cohn, Andrew Owens, and Coy Garrison along with associates Evan Abrams, Sophia Breggia, and Vito Arethusa authored an article published by Law360 titled “CFPB As Pay App Watchdog May Invite More Fintech Regs.”

The article discusses how the Consumer Financial Protection Bureau announced a notice of proposed rulemaking that would establish CFPB supervisory authority over certain nonbank companies "participating in a market for 'general-use digital consumer payment applications.'

 Visit Law360 to view the full article. 

Professionals

Alan Cohn
Alan Cohn
Alan Cohn counsels clients on a range of blockchain, cryptocurrency, and digital asset-related issues, from regulatory best practices for cryptocurrency companies to legal issues associated with novel...

Partner

Financial Innovation & Regulation, Digital Assets and Decentralized Finance, Blockchain & Cryptocurrency, Banking

Andrew Owens
Andrew Owens is a partner in Steptoe's Financial Innovation & Regulation practice with a focus on consumer banking and the retail payment card industry. Andrew's advice helps clients develop financial...

Partner

Consumer Financial Services, Financial Innovation & Regulation, Payments, Financial Services

Coy Garrison
Coy Garrison, a former SEC counsel and career staffer, is a partner in Steptoe's Government Affairs & Public Policy practice and the Financial Innovation & Regulation practices.  Coy advises private...

Partner

Financial Innovation & Regulation, Blockchain & Cryptocurrency, Financial Services, Financial Products and Markets

Evan T. Abrams
Evan Abrams counsels financial institutions, multinational corporations, and individuals on a variety of international regulatory and compliance matters. He regularly advises clients on issues related...

Partner

Anti-Money Laundering, Economic Sanctions, Financial Services, Artificial Intelligence

Sophia Breggia
Sophia Breggia counsels clients on a range of regulatory and enforcement matters, primarily in the financial services sector, including those before the Department of Justice (DOJ), the Securities and...

Associate

Financial Innovation & Regulation, Independent & Internal Investigations, Blockchain & Cryptocurrency, Financial Regulatory Compliance & Policy

Vito Arethusa
Vito Arethusa is an associate in Steptoe's GAPP group. He counsels clients in the financial services sector on a variety of regulatory matters, including compliance with regulations related to capital...

Associate

Government Affairs & Public Policy, Financial Services, Financial Regulatory Compliance & Policy, Blockchain & Cryptocurrency

Practices

Blockchain & Cryptocurrency

National Security & Cross-Border Transactions

AI, Data & Digital

Financial Services

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