The finance industry provides an array of economic services. These include banks, credit-card companies, and credit unions. The range of services available from these companies is vast. This article will look at consumer financial services and financial risk management. You’ll also learn about how digital financial services work. There’s something for everyone in the finance industry.
Consumer financial services
Legal issues are becoming more prevalent in the consumer financial services industry. Mergers and acquisitions, joint ventures, and strategic alliances can all be impacted by consumer financial services regulatory issues. These issues are particularly important because they can have a significant impact on the overall success of a company. The S&C Consumer Financial Services Group includes attorneys with federal and state regulatory experience.
The Dodd-Frank Act, enacted in 2010, has resulted in increased regulation of consumer financial services. It aims to protect consumers, encourage innovation, and improve safety and soundness. As a result, financial institutions are facing increased scrutiny and risks of punitive enforcement actions. In addition, nonbank providers of consumer financial products and services are also being scrutinized by the Consumer Financial Protection Bureau.