• 05.22.19

    NY Federal Court: OCC Fintech Charters in Jeopardy

    In a surprising decision, a New York federal district court not only refused to dismiss the New York Department of Financial Services’ (DFS) challenge to the Office of the Comptroller of the Currency’s (OCC) plans to issue special purpose national bank (SPNB) charters to fintech ...

  • 05.22.19

    State AGs, ABA Back Bill On Financial Services For Cannabis

    Support continues to build for the Secure and Fair Enforcement (SAFE) Banking Act, with a coalition of 38 state and territorial Attorneys General as well as the American Bankers Association (ABA) writing to lawmakers to urge passage of the bill.

  • 05.22.19

    FinCEN Provides Guidance On Cryptocurrency

    The Financial Crimes Enforcement Network (FinCEN) has released new guidance on cryptocurrency, an attempt to “provide regulatory certainty for businesses and individuals” engaged in the burgeoning field of financial activity.

  • 05.22.19

    Possibility of Vicarious Liability for Lenders in Ninth Circuit

    In another case involving agency liability, the U.S. Court of Appeals for the Ninth Circuit ruled that while the owner of a student debt is not per se liable for violations committed by a loan servicer it engages, it may be liable if an agency relationship exists based on traditional agency ...

  • 05.08.19

    Passive-Aggressive: Federal Reserve Seeks Comment on Bank Control

    Seeking to increase the transparency of the rules for determining control of a banking organization, the Federal Reserve Board of Governors (Board) asked for public comment on a new proposal.

  • 05.08.19

    Second Circuit: Tribal Officials Must Face Suit

    The U.S. Court of Appeals, Second Circuit has ruled that an online tribal lender must comply with state interest rate and licensing laws, allowing a pair of borrowers to move forward with their suit against tribal officials.

  • 05.08.19

    From SEC to FinCEN Enforcement Everywhere

    Reminding financial institutions that a multitude of enforcers are at their doorstep, the Securities and Exchange Commission (SEC) announced a $3 million deal with an online lender.

  • 05.08.19

    Co-marketing Program May Violate RESPA, Court Rules

    Ruling on an amended complaint, a Washington federal court refused to dismiss a securities class action alleging that Zillow’s co-marketing program violated the Real Estate Settlement Procedures Act (RESPA).

  • 05.08.19

    CFPB Rule Updates: Debt Collection, HMDA, TRID

    The Consumer Financial Protection Bureau (CFPB or Bureau) recently issued several pronouncements addressing its rules.

  • 05.08.19

    Fourth Circuit Strikes Blow to Government Debt Collectors With TCPA Constitutionality Ruling

    In striking down a portion of the Telephone Consumer Protection Act (TCPA) as unconstitutional, the Fourth Circuit opened the door for more litigation against debt collectors.