Banking & Financial Services

Looking Forward

The current Acting Comptroller, the SEC and CFTC Chairs, the CFPB Director, the Chairman of the Federal Reserve Board, and the Secretary of the Treasury, as well as a range of other federal government officials, have made it clear they intend to carefully scrutinize financial services providers, particularly fintechs and “Neobanks.” Seeking good counsel in advance and proceeding carefully will be key in this space. We also advise players to be proactive and to take advantage of the notice-and-comment process as well as other opportunities to present key information to regulators.