05.26.16
Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC).
05.25.16
Marketplace loan investors may want to "gather ye discounted Madden loans while ye may," as the Robert Herrick poem reads (taking some fintech license, of course).
05.16.16
In a carefully drawn 6-2 decision authored by Justice Samuel Alito, the Supreme Court of the United States has today ruled in Spokeo, Inc. v. Robins that a plaintiff must show an injury in fact before pursuing a claim for violation of the federal Fair Credit Reporting Act (FCRA), a holding that ...
05.13.16
For a second time, federal banking regulators are seeking comment on a jointly proposed rule that would impose restrictions on incentive-based pay arrangements.
05.12.16
On May 10, 2016, the U.S. Department of the Treasury released its highly anticipated white paper on online marketplace lending.
05.09.16
To no one's surprise, the Consumer Financial Protection Bureau (CFPB) proposed rules on May 5, 2016 that will effectively, if promulgated as expected, eliminate most pre-dispute arbitrations arising out of the sale of consumer financial products.
04.28.16
In the past few years the fintech industry has grown exponentially.
04.14.16
The federal banking agencies and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) have issued guidance to banks to clarify how the Bank Secrecy Act's customer identification program (CIP) requirements apply to several types of prepaid access.
03.31.16
The Consumer Financial Protection Bureau (CFPB) has had a busy few weeks, releasing the latest monthly snapshot of consumer complaints, publishing its Supervisory Highlights newsletter to reveal the Bureau has recovered $14.3 million for consumers, and announcing that it will begin to accept ...
03.10.16
A $6.5 million civil money penalty imposed against a $1.57 billion Florida bank for persistent anti-money laundering (AML) and Bank Secrecy Act (BSA) deficiencies provided an appropriate back drop for two enforcement-related announcements by the Office of the Comptroller of the Currency (OCC).