04.24.19
In Consumer Financial Protection Bureau (CFPB or Bureau) news, the Bureau announced a major change regarding civil investigative demands (CIDs) and Director Kathy Kraninger became the first CFPB director to serve as chairperson of the interagency Federal Financial Institutions Examination Council ...
Student loan servicers should prepare for heightened regulation with the passage of a new law in New York and new regulations in effect in California.
Continuing to fill in gaps at the federal level, state attorneys general are keeping busy with enforcement actions, and on issues that might have received more CFPB attention under the old Cordray regime.
An online lender recently agreed to pay a $3.85 million settlement to the Federal Trade Commission (FTC) for allegedly engaging in deceptive and unfair acts and practices relating to its consumer loans.
The Supreme Court, in a sharply-divided 5-4 ruling issued on April 24, ruled that nothing in the Federal Arbitration Act allows courts to compel class action arbitration even if the contract is ambiguous in that regard, and notwithstanding rules that direct courts to interpret such ambiguities most ...
The Federal Deposit Insurance Corporation (FDIC) just reiterated its guidance on managing risks in technology service provider (TSP) relationships in a new Financial Institution Letter (FIL).
04.22.19
On April 17, 2019, the Office of Information and Regulatory Affairs proposed a second set of new opportunity zone (OZ) regulations.
04.16.19
Legislation on cannabis banking continues to make its way through the House of Representatives, with one bill garnering approval by the Financial Services Committee.
04.12.19
The staff of the SEC issued a no-action letter Wednesday, April 3, 2019, to TurnKey Jet, Inc., agreeing that digital tokens used by the business-travel startup did not meet the definition of a security.