Newsletters

05.12.17

CSBS Sues OCC Over Fintech Charters

An organization of state banking regulators hit the Office of the Comptroller of the Currency with a lawsuit, claiming the federal agency’s plan to issue fintech charters exceeds its authority.


04.13.17

$3M Penalty for Credit Reporting Agency in CFPB Action

A major credit bureau and its subsidiaries will pay a civil penalty of $3 million, revise how it represents how the credit scores it markets to consumers are used, and put in place changes in its compliance management system in a settlement with the Consumer Financial Protection Bureau (CFPB or ...


03.30.17

Industry Groups Respond on Consumer Access to Financial Records

Financial industry groups responded to the Consumer Financial Protection Bureau's (CFPB) request for information on consumer access to their financial records.


03.20.17

Curry in a Hurry: OCC Publishes Fintech Charter Standards

A key banking regulator has published draft licensing standards that could fundamentally change how financial technology companies operate and are supervised in the United States.


03.16.17

Borrower Wins Key Victory in Madden v. Midland

A federal judge has ruled that New York law—not Delaware law as the parties agreed in the initial loan agreement—applies to the defaulted borrower's claims and has certified a class action against the debt collector.


03.03.17

Borrower Wins Key Victory in Madden v. Midland

A federal judge has ruled that New York law—not Delaware law as the parties agreed in the initial loan agreement—applies to the defaulted borrower's claims and has certified a class action against the debt collector.


02.17.17

CFPB Releases Prepaid Rule Guidance

The Consumer Financial Protection Bureau (CFPB) released guidance on the agency's forthcoming Prepaid Rule, set to take effect on October 1, 2017.


02.02.17

Comments Reveal Mixed Reaction to OCC Fintech Charter

As the comment period ended on the Office of the Comptroller of the Currency's (OCC) proposal to establish a fintech charter, stakeholders weighed in on both sides of the idea.


01.19.17

The Last of Obama-Era CFPB Enforcement?

Making the most of its enforcement powers before the new administration takes over, and likely concerned that its days as a stand-alone bureau may be coming to an end, the Consumer Financial Protection Bureau (CFPB) took action against entities ranging from Virginia pawnbrokers to national lender ...


12.21.16

CFPB Warns Financial Institutions About Incentives

Use caution when creating incentives for employees and service providers to meet sales and other business goals, the Consumer Financial Protection Bureau warned financial institutions in a new Compliance Bulletin.