Dustin N. Nofziger

Foisted on the banking industry decades ago, with no formal rulemaking process, the Federal Financial Institutions Examination Council Manual should be eliminated in favor of new rules crafted with the input of relevant stakeholders.

The CFPB’s enforcement action against Maxi suggests that the CFPB may more aggressively enforce certain rules going forward, writes Jeffrey Alberts and Dustin Nofziger of Pryor Cashman.

Although those fintech companies whose primary service is the provision of faster payments may face a future threat for the proposed FedNow Service, fintech companies may also benefit from the availability of a Fed-led real-time payments network, Jeffrey Alberts and Dustin Nofziger of Pryor Cashman write.