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CFPB Q1 Circular Recap: Essential Takeaways for Mitigating UDAAP Risk to Remittance Transfer Providers, Digital Comparison-Shopping Tools Operators, and Lead Generators
In the first quarter of 2024, the Consumer Financial Protection Bureau (CFPB) issued two Consumer Financial Protection Circulars, putting remittance transfer providers, digital comparison-shopping tools operators, and lead generators on notice of certain practices that can violate the Consumer Financial Protection Act’s (CFPA’s) prohibition on unfair, deceptive, and abusive acts and practices.
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Significant State Regulatory Development in the Virtual Currency Industry in California and New York
In this edition of Fintech Flash, we cover significant state regulatory developments in the virtual currency industry in California and New York. We cover what virtual currency service providers should promptly evaluate in their business models, policies, procedures, and disclosures to be in compliance with the DFAL to meet the compliance deadline in July 2025.
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