Will the second time be the charm? Two credit card networks and merchants representing the class suing them reached a revised agreement to put an end to a 13-year-old antitrust class action concerning the interchange fees merchants must pay and the card network rules imposed on merchants.
Here we go again: The New York Department of Financial Services (DFS) has filed its second lawsuit against the Office of the Comptroller of the Currency (OCC) over the agency’s plan to permit fintech companies to apply for Special Purpose National Bank Charters.
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.
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.
A bank did not engage in age bias when it terminated an employee after learning that he had a prior conviction that disqualified him from employment, the U.S. Court of Appeals, Eighth Circuit has affirmed.
While the California Consumer Privacy Act (CCPA) and subsequent amendments have dominated privacy news lately, some states are enacting data protection legislation that could impact financial institutions and businesses.