10.10.18
In a sign that the California Department of Business Oversight (DBO) is contemplating new enforcement activity or possibly proposed regulations in the lending space, the DBO sent letters to 20 consumer installment lenders asking for details about their annual percentage rates (APRs) and online ...
The Bureau of Consumer Financial Protection (CFPB or Bureau) continues in the news, as the CFPB released a report on credit invisibility, met with advisory groups for the first time this year and proposed a policy for its new “sandbox” program.
Following a busy few months for the California legislature, financial institutions are now facing some new requirements.
09.27.18
In the latest state-level communication directed toward the federal government, more than a dozen state banking supervisors encouraged congressional leadership to enact a safe harbor for financial institutions working with marijuana-related businesses or grant the states jurisdiction over ...
The latest news from the Bureau of Consumer Financial Protection (CFPB or Bureau) includes the first lawsuit filed under the leadership of Acting Director Mick Mulvaney, committee approval of his permanent replacement and the publication of the 17th edition of the Bureau’s Supervisory ...
All five federal banking regulators recently issued an interagency statement, explaining the role of supervisory guidance and describing the agencies’ approach to supervisory guidance.
09.13.18
At this ten-year anniversary of the Sept. 15, 2008, failure of investment banking giant Lehman Brothers, it’s time to take stock.
At literally the 11th hour on August 31, the California legislature passed Senate Bill 1235 (SB 1235).
08.29.18
Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco recently discussed his agency’s efforts in the area of virtual currency, explaining the fine line between encouraging innovation and protecting consumers.
California’s legislature passed a bill last week further regulating the collection of time-barred debt under the Rosenthal Act, California’s version of the Fair Debt Collection Practices Act (FDCPA).
