Andrew S. Wein

Nov 9, 2023 | drudge-report.net | Timothy A. Butler |Marina Olman-Pal |Benjamin M. Saul |Andrew S. Wein

On Nov. 7, 2023, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would, if finalized in its present form, establish the CFPB’s supervisory authority over certain “larger participant” nonbank companies that provide digital wallets and payment applications.

Nov 9, 2023 | lexblog.com | Timothy A. Butler |Marina Olman-Pal |Benjamin M. Saul |Andrew S. Wein

Benjamin Saul is a shareholder in the firm’s Financial Regulatory and Compliance Practice. For two decades, Ben has handled high-stakes regulatory, enforcement, and litigation matters for corporate and individual clients in the consumer finance, specialty finance, fintech, and banking sectors.

Nov 9, 2023 | lexology.com | Timothy A. Butler |Marina Olman-Pal |Benjamin M. Saul |Andrew S. Wein |Matthew White |Tessa Cierny | +1 more

Go-To Guide:The Consumer Financial Protection Bureau (CFPB) issued a proposed rule to establish its supervisory authority over certain large, nonbank companies that offer digital wallets and payment applications. If finalized in its present form, the proposed rule would enable the CFPB to exercise supervisory authority over nonbank covered persons that facilitate at least five million transactions per calendar year via general-use digital consumer payment applications.