• 08.31.17

    Overdraft Report, Disclosure Prototypes From CFPB

    Focusing on overdrafts, the Consumer Financial Protection Bureau (CFPB) released a new report as well as prototypes of “Know Before You Owe” disclosures for banks and credit unions offering overdraft protection.

  • 08.31.17

    Research Finds Fintech Enhances Financial Inclusion at Lower Cost

    In a new research paper, the Federal Reserve Bank of Philadelphia concluded that fintech lending has enhanced financial inclusion, often at lower cost to consumers. 

  • 08.31.17

    Another Court Finds the CFPB Constitutional

    Ruling that the Consumer Financial Protection Bureau (CFPB) is constitutional and has the authority to act against companies without first adopting specific rules defining whether any specific practice is unfair, deceptive or abusive, a Pennsylvania federal court judge denied a student loan ...

  • 08.31.17

    California Considers State-Run Bank for Marijuana Businesses

    Is California starting a government-run bank for marijuana businesses?

  • 08.17.17

    Forecast: Abundance of Potential New Rulemaking From the CFPB

    After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies on notice about forthcoming rules on payday, title, high-cost installment ...

  • 08.17.17

    OCC Moves Forward With Fintech Charters, Seeks Lawsuit Dismissal

    Holding the line on the future of fintech charters, Acting Comptroller Keith Noreika confirmed that the Office of the Comptroller of the Currency (OCC) will move forward with its plans to issue special purpose charters.

  • 08.17.17

    Pay-by-Phone Fees Get a Call From the CFPB

    Be careful with pay-by-phone fees, the Consumer Financial Protection Bureau (CFPB or Bureau) cautioned companies in a new compliance bulletin, expressing concern about businesses “potentially misleading consumers about the purpose and amount of certain pay-by-phone fees or keeping them in the ...

  • 08.17.17

    Legislation Would Legalize ‘Valid When Made’ Rule

    A new bill introduced by Sen. Mark Warner (D-Va.) would overrule the U.S. Court of Appeals, Second Circuit, decision in Madden v. Midland Funding and legalize the “valid when made” rule.

  • 08.17.17

    Federal Reserve Considers Changes to Board of Director Expectations

    The Board of Governors of the Federal Reserve System requested public comment on a proposal intended to enhance the effectiveness of boards of directors, refocusing the regulator’s supervisory expectations of boards.

  • 08.03.17

    DFS Provides Answers to Cybersecurity FAQs

    Hoping to provide greater clarity to financial institutions subject to its new cybersecurity requirements, New York’s Department of Financial Services (DFS) published a Frequently Asked Questions (FAQ) document to assist those institutions as the Aug. 28, 2017, compliance deadline looms.

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