• 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

    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.

  • 07.28.17

    Is the Party Over? SEC Concludes Cryptocurrency Offering Required Registration

    In an investigative report and investor bulletin, the SEC concludes that offers and sales of cryptocurrency coins and tokens may be subject to federal securities laws.

  • 07.27.17

    SCOTUS Limits Reach of Fair Debt Collection Practices Act

    In a unanimous decision, the Supreme Court narrowly interpreted “debt collector” under the Fair Debt Collection Practices Act to exclude debt purchasers engaging in collection efforts for their own accounts.

  • 07.20.17

    Payday Lenders’ Operation Choke Point Challenge Survives Dismissal

    Two new Consumer Financial Protection Bureau (CFPB) reports provide important insights into the CFPB’s and state regulators’ latest activities and enforcement targets.

  • 06.23.17

    House Approves Rollback of Post-Recession Financial Reforms

    In a party line vote, the House of Representatives approved the Financial CHOICE Act of 2017. If signed into law, this legislation would profoundly alter the financial services regulatory landscape put in place after the 2007–08 financial crisis.

  • 06.22.17

    Supreme Court: FDCPA Doesn’t Cover Owned Debt

    A bank or other person may collect debts that it purchased for its own account without triggering the statutory requirements of the Fair Debt Collection Practices Act, a unanimous Supreme Court recently ruled.

  • 06.08.17

    California Court Upholds CFPB’s Constitutionality, Request for CID

    Taking the opposite approach from recent decisions of the U.S. Court of Appeals for the D.C. Circuit, a California federal court upheld the constitutionality of the Consumer Financial Protection Bureau while also ordering the defendant to comply with a civil investigative demand issued by the ...

  • 05.25.17

    Curry Defends OCC's Fintech Charter, New York's DFS Sues

    Stepping down as the leader of the Office of the Comptroller of the Currency (OCC), Thomas J. Curry highlighted the efforts of the agency to encourage financial innovation, particularly the agency's decision to grant fintech charters, as another lawsuit was filed challenging those charters.

  • 05.12.17

    CSBS Sues OCC Over Fintech Charters

    An organization of state banking regulators hit the Office of the Comptroller of the Currency with a lawsuit, claiming the federal agency’s plan to issue fintech charters exceeds its authority.

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