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Why Fintechs Should Care About the CFPB

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In a Bloomberg article originally published October 12, 2022, Courtney M. Dankworth, Jehan Patterson and Zila R. Acosta-Grimes caution financial technology companies that recent actions by the Consumer Financial Protection Bureau signal it intends to take an expansive view of its jurisdiction. They offer several steps fintechs can take to prepare for this extra scrutiny. The article, “Why Fintechs Should Care About the CFPB,” is available here.

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Author

Zila R. Acosta-Grimes is a corporate associate and a member of Debevoise's Financial Institutions Group. She can be reached at zracostagrimes@debevoise.com.

Author

Courtney M. Dankworth is a litigation partner who focuses her practice on internal investigations and regulatory defense, including banking enforcement actions and disputes related to financial services and consumer finance. Ms. Dankworth advises clients facing investigations and enforcement actions conducted by the Department of Justice, Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, state attorneys general and state banking regulators. She can be reached at cmdankwo@debevoise.com.

Author

Jehan Patterson is a litigation counsel based in the firm’s Washington, D.C. office and a member of the firm’s White Collar & Regulatory Defense Group. Her practice focuses on advising the firm’s financial institutional clients on matters related to consumer finance law and enforcement. Prior to joining Debevoise, Ms. Patterson served as a senior litigation counsel in the Office of Enforcement at the Consumer Financial Protection Bureau (CFPB). Prior to her time at the CFPB, Ms. Patterson was a staff attorney at a public interest law firm. She can be reached at jpatters@debevoise.com.

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