Joshua Durham

San Francisco

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Articles

What the Future May Hold for the Consumer Financial Protection Bureau's Open Banking Rule | JD Supra

Jan 20, 2025 | jdsupra.com | Gregory N. Blase |Joshua Durham |Andrew Glass

Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress and incoming presidential administration? Two upcoming proceedings may hold the answer. On 22 October 2024, the CFPB finalized a rule to govern personal financial data rights, known colloquially as the open banking rule.1 In promulgating the open banking rule, the CFPB relied on Section 1033 of the Dodd-Frank Act for authority.
What The Future May Hold For The Consumer Financial Protection Bureau's Open Banking Rule

Jan 20, 2025 | mondaq.com | Andrew Glass |Gregory N. Blase |Joshua Durham

Will the Consumer Financial Protection Bureau's (CFPB)recently promulgated open banking rule survive under the newCongress and incoming presidential administration? Two upcomingproceedings may hold the answer. On 22 October 2024, the CFPB finalized a rule to govern personalfinancial data rights, known colloquially as the open banking rule.1 In promulgatingthe open banking rule, the CFPB relied on Section 1033 of theDodd-Frank Act for authority.
What the Future May Hold for the Consumer Financial Protection Bureau's Open Banking Rule

Jan 15, 2025 | klgates.com | Andrew Glass |Gregory N. Blase |Joshua Durham

Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress and incoming presidential administration? Two upcoming proceedings may hold the answer. On 22 October 2024, the CFPB finalized a rule to govern personal financial data rights, known colloquially as the open banking rule.1 In promulgating the open banking rule, the CFPB relied on Section 1033 of the Dodd-Frank Act for authority.
Complying With The New "Open Banking" Regime: Primer And Fact Sheet

Jan 14, 2025 | mondaq.com | Andrew Glass |Gregory N. Blase |Joshua Durham

KG K&L Gates LLP More At K&L Gates, we foster an inclusive and collaborative environment across our fully integrated global platform that enables us to diligently combine the knowledge and expertise of our lawyers and policy professionals to create teams that provide exceptional client solutions.
Massachusetts Revamps Its Money Transmission Law | JD Supra

Jan 13, 2025 | jdsupra.com | Gregory N. Blase |Joshua Durham |Andrew Glass

On 2 January 2025, Massachusetts went from being one of the least regulated states for money transmission to becoming one of the more highly regulated states. Formerly, only entities engaging in foreign money transmission required licensing.
Complying With the New "Open Banking" Regime: Primer and Fact Sheet

Jan 9, 2025 | klgates.com | Andrew Glass |Gregory N. Blase |Joshua Durham

The Consumer Financial Protection Bureau (CFPB) finalized its “open banking” rule in late 2024. As required by Section 1033 of the Consumer Financial Protection Act, the CFPB promulgated the rule to require certain financial services entities to provide for the limited sharing of consumer data and to standardize the way in which that data is shared.
Federal Court Vacates SEC’s Expanded Dealer Definition | JD Supra

Dec 6, 2024 | jdsupra.com | Jessica Cohn |Joshua Durham |Richard Kerr

On 21 November 2024, the US District Court for the Northern District of Texas (Court) ruled against the US Securities and Exchange Commission (SEC) in two separate cases, vacating its rule which expanded the definition of securities dealers. In February 2024, the SEC adopted a rule expanding the definitions of “dealer” and “government securities dealer” to extend to market participants who provide significant liquidity to the markets (the Dealer Rule).
The Post-Chevron Toolkit: The New Era for Regulatory Review | JD Supra

Nov 13, 2024 | jdsupra.com | Varu Chilakamarri |Joshua Durham |David R. Fine

In a landmark ruling on 28 June 2024, the US Supreme Court expressly overruled the 40-year-old Chevron doctrine with its decision in Loper Bright Enterprises v. Raimondo, eliminating the requirement that courts defer to federal agencies’ interpretations of ambiguous statutes.
The Post-Chevron Toolkit

Nov 12, 2024 | klgates.com | Varu Chilakamarri |Joshua Durham |David R. Fine |Tre Holloway

In a landmark ruling on 28 June 2024, the US Supreme Court expressly overruled the 40-year-old Chevron doctrine with its decision in Loper Bright Enterprises v. Raimondo, eliminating the requirement that courts defer to federal agencies’ interpretations of ambiguous statutes.
Banking Regulators' Growing Concerns Over Bank-Fintech Partnerships

Sep 3, 2024 | mondaq.com | Grant Butler |Andrew Glass |Gregory N. Blase |Joshua Durham

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) have jointly issued a request for information (RFI) seeking input on the nature, risks, and implications of bank-fintech partnerships. Accompanying the RFI, the agencies issued a joint statement on banks' arrangements with third parties to deliver bank deposit products and services (Joint Statement).