• 08.29.18

    State Regulators Busy With Fintech Sandbox, Investigation and Settlement

    In state-specific news, Arizona opened its sandbox for fintech play, Lending Club revealed that Massachusetts is following in the footsteps of the Federal Trade Commission (FTC) and the Georgia attorney general reached a $75,000 settlement with a financial institution over unauthorized fees.

  • 08.16.18

    States Take Action on Bitcoin Online Lending

    State regulators are keeping a close eye on cryptocurrency and digital lending activities, with a cease and desist order involving bitcoin and a new law targeting online lenders.

  • 08.16.18

    DOJ Expands FCPA Self-Reporting Protections to Successor Companies

    Building on its efforts to encourage self-reporting of Foreign Corrupt Practices Act (FCPA) violations, the Department of Justice (DOJ) announced it will extend protections to voluntary reporting successor companies for preacquisition violations of the target company.

  • 08.02.18

    California Continues Oversight of Student Loan Servicers

    Following in the recent footsteps of the California attorney general’s lawsuit against the country’s largest student loan servicer, the state’s Department of Business Oversight (DBO) sent letters to 12 servicers seeking information about why they have not applied for licenses ...

  • 07.18.18

    States Work to Bring Banking Services to Marijuana Businesses

    States are pushing to allow or encourage banking services to be provided to marijuana-related businesses, with efforts spreading from California to New York.

  • 07.18.18

    California Considering Bill to Require Disclosures for Small Business Lending

    In new California commercial financing-related legislation, a pending state bill would mandate specified disclosures for small business lending, while a recently passed ordinance in Los Angeles will require banks doing business with the city to reveal if they use sales goals.

  • 07.18.18

    State Financial Regulators Settle With Equifax Over Data Breach

    Pursuant to a consent order with eight state financial regulators, Equifax agreed to take corrective actions following its record-breaking 2017 data breach, but avoided paying any fines or penalties.  

  • 07.18.18

    State AGs: No Need for Madden Fix Legislation

    A group of state attorneys general reached out to congressional leadership, pushing back against the Madden fix legislation pending in the U.S. House of Representatives.

  • 06.20.18

    Bill Spurs Buzz on Banking Services to Marijuana Businesses

    Federal efforts to reduce the restrictions placed on cannabis businesses that operate legally under state law are picking up, with new legislation proposed and indications from the administration that it will let states take the lead with regard to enforcement.

  • 06.08.18

    Governor Brown Releases His Final May Revision Budget

    In mid-May, Governor Jerry Brown released his 16th and final “May Revision” to his initial January budget proposal; it included updated revenue information and relatively modest proposed changes.