• 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.

  • 12.15.16

    Website Accessibility: Proactive Steps to Avoid ADA Claims

    Plaintiffs’ law firms have recently been sending demand letters to banks of all sizes alleging that their websites violate the Americans with Disabilities Act (ADA), particularly with regard to accessibility of the websites to persons with visual impairments.

  • 12.13.16

    To Bank or Not to Bank? OCC's Fintech Charter

    Following months of speculation, on December 2, 2016, the Office of the Comptroller of the Currency (the "OCC") announced that it will consider applications from fintech companies seeking national bank charters.

  • 12.08.16

    Trump Administration Gears Up for Financial Services Changes

    With the new administration weeks from taking over, President-elect Donald J. Trump's transition team is getting ready to make changes in the financial services industry, including a potential overhaul of the Dodd-Frank Act and a reduction in corporate tax rates.

  • 11.10.16

    OCC Embraces "Responsible Innovation" With New Office, Framework

    The Office of the Comptroller of the Currency (OCC) announced plans to establish an office dedicated to responsible innovation, accompanied by a formal framework to "improve the agency's ability to identify, understand, and respond to financial innovation affecting the federal banking ...

  • 10.13.16

    California's DBO Hits LendUp With Action, Fine

    California's Department of Business Oversight (DBO) reached a $2.68 million settlement with LendUp recently, a deal based on the regulator's allegations that the firm charged illegal fees and committed other "widespread" violations of state law.

  • 10.11.16

    Court to CFPB: Unconstitutional and Wrong on RESPA

    In a landmark decision impacting the consumer financial services industry and beyond, a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit has declared unconstitutional a core component of the structure of the Consumer Financial Protection Bureau (CFPB), and overturned a $109 ...

  • 09.29.16

    CFPB Flunks For-Profit Education Company, Orders $31M Payment

    Continuing its recent focus on student lending, the Consumer Financial Protection Bureau (CFPB) ordered a for-profit college company to provide loan forgiveness and refunds of more than $23 million, adding an $8 million civil money penalty on top.

  • 09.15.16

    OCC, CFPB Charge Bank With Illegal Credit Card Practices

    Two regulators have forced one bank to pay $35 million for allegedly improper credit card practices—including fines owed to both the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB).

  • 09.01.16

    FDIC on Marketplace Lending, Supervisory Appeals and Communication

    The latest regulator attempting to rein in controls on the marketplace lending industry is the Federal Deposit Insurance Corp. (FDIC). Marketplace lending to consumer borrowers generally runs through state-chartered banks. The FDIC is in the unique position of being able to regulate ...



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