BurgherGray Newsletter

We wish to inform you about a significant regulatory development that could reshape the fintech landscape. The Consumer Financial Protection Bureau (“CFPB”) recently proposed the Personal Financial Data Rights (the “Proposed Rule”) rule with the intention of making consumers’ financial transaction data more portable, thereby causing a broader shift to a more open banking ecosystem characterized by increased competition between banking service providers.

As we start the new year, it’s an opportune moment to look back on the rollercoaster year that was 2023. This year, globally, we’ve witnessed a mosaic of domestic and global challenges that have fueled economic, legal, social, and political uncertainties for many, including our clients. These challenges ranged from high interest rates and global inflationary pressures to anxiety-filled USD LIBOR sunset, ongoing geopolitical shifts, land mark SCOTUS decisions reversing previously well settled law regarding reproductive rights and DEI programs, major wars with global implications, and the continuing evolution in the way we live and work. These domestic and global currents have touched each of our lives, reshaping or otherwise impacting our celebrations, interactions, and perspectives. We are proud to have helped our clients navigate…

Last year was a year like no other, and the way we celebrated and otherwise experienced the holidays was no exception. But despite the many things we are all eager to leave behind in 2020, the holiday season provided an opportunity for rejuvenation and for reflection and introspection on all of the things that we discovered about ourselves and each other in the midst of the challenges and chaos of 2020. We hope that as you celebrated and spent precious time with loved ones you made time to seize this opportunity and discover the many reasons to be hopeful and optimistic for 2021 and beyond.