Newsletters

01.30.19

CFPB News: Constitutionality, Military Lending, Enforcement and More

While the dispute over the constitutionality of the Bureau of Consumer Financial Protection’s (CFPB or Bureau) structure continues to rage, the Bureau continued to make other news, releasing a report on the Ability to Repay and Qualified Mortgage rule, while Director Kathy Kraninger asked ...


01.30.19

Court Certifies Class of Consumers in Payday Lending Suit

A federal court in Minnesota has certified a class of consumers suing a lead generator and related payday lenders for violations of state law, rejecting the defendants’ concerns that the damages calculations would require individual inquiries.


01.17.19

Privacy and Data Security 2018 Year in Review

In many ways, it was the year of data privacy. In this article, we identify five of the biggest trends in privacy and data security, including the mammoth European Union General Data Protection Regulation (GDPR) taking effect, the hurried passage of the California Consumer Privacy Act (CCPA), the ...


01.16.19

New Year, New CFPB? Kraninger Memo Sparks Debate

Perhaps setting the tone at the Bureau of Consumer Financial Protection (CFPB or Bureau), new Director Kathy Kraninger urged Bureau employees to “vigorously enforce the law” but refrain from presuming guilt about industry participants.


01.16.19

FTC Bans Student Loan Debt Relief Scammers

Student loan debt relief scammers were on the receiving end of a ban by the Federal Trade Commission (FTC) as part of the agency’s Operation Game of Loans.


01.16.19

Federal Reserve Documents Growth in Card Payments

The Board of Governors of the Federal Reserve System (Federal Reserve) released its latest study on payments, documenting a continuing—and accelerated—“robust growth” in card payments.


01.16.19

State AGs Deal With Payment Processor, Mobile Apps

In state enforcement news, Massachusetts Attorney General Maura Healey announced a settlement with a California-based payment services provider, while New York Attorney General Barbara Underwood reached a deal with five companies related to security vulnerabilities in their mobile apps.


01.16.19

State-Run Marijuana Bank Option Falters in California

A new study has cast a shadow on plans for a state-owned bank to service the cannabis industry in California.


01.15.19

U.S. Sanctions Enforcement Against Foreign Financial Institutions Continues

While major enforcement actions against foreign banks for U.S. sanctions violations appear to have ebbed over the past three years, the recent settlement of sanctions-related claims, which included imposition of $1.34 billion in forfeitures and penalties, against a large foreign bank is a reminder ...


01.09.19

Manatt Fintech’s Top 5 Takeaways of 2018

In the financial technology industry (fintech), 2018 was a fascinating and fast-paced year.