Newsletters

12.19.18

Merchant Cash Advances on the Hot Seat

Could investigative reporting into merchant cash advances lead to enforcement action against companies that make these advances, or to potential legislation to ban certain practices inherent in this industry?


12.19.18

FDIC Pushes for De Novo Banks

Undertaking a serious push to encourage de novo banks, the Federal Deposit Insurance Corporation (FDIC) announced multiple initiatives and released new resources in the hopes of attracting new banks.


12.05.18

CFPB News: Enforcement Action, Favorable Amicus, Possible Director Vote

Have we seen the last of Mick Mulvaney as acting head of the Bureau of Consumer Financial Protection (CFPB or Bureau)?


12.05.18

Regulatory Push for Industry Collaboration, Technology Continues

Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams emphasized the need for partnership and collaboration with the financial services industry, in recent remarks at a fintech conference.


12.05.18

Operation Choke Point Litigation Stirs Up Lawmaker Concern—Again

According to a group of payday lenders, the reverberations of Operation Choke Point are still being felt.


12.05.18

FDIC Encourages Small-Dollar Lending in New RFI

The Federal Deposit Insurance Corporation (FDIC) has signaled renewed interest in small-dollar lending.


12.05.18

FTC Sends Money Transfer Service $125M Penalty, Expanded Order

An international money transfer service must pay $125 million after it failed to take the steps required in a 2009 consent order it had agreed to with the Federal Trade Commission (FTC) and a 2012 Deferred Prosecution Agreement (DPA) entered into with the Department of Justice (DOJ).


11.27.18

CFPB: Payday Lending Rule, New Report and MLA Concerns

This week in news from the Bureau of Consumer Financial Protection (CFPB or Bureau), a Texas federal court granted a stay of the compliance deadline for the Payday, Vehicle Title and Certain High-Cost Installment Loans Rule, allowing the industry to breathe a sigh of relief.


11.27.18

SCRA News: DOJ Settles Action, FTC Proposes Rule

One of the nation’s largest credit unions will pay $95,000 after a DOJ investigation into the company’s violations of the Servicemembers Civil Relief Act (SCRA).


11.27.18

Online Lender Settles With FTC Over Refinancing Misrepresentations

Issuing a warning to other lenders, the Federal Trade Commission (FTC) reached a deal with an online lender over charges the company violated the FTC Act by making false statements about student loan refinancing.