Newsletters

12.05.18

Operation Choke Point Litigation Stirs Up Lawmaker Concern—Again

According to a group of payday lenders, the reverberations of Operation Choke Point are still being felt.


11.27.18

CFPB: Payday Lending Rule, New Report and MLA Concerns

This week in news from the Bureau of Consumer Financial Protection (CFPB or Bureau), a Texas federal court granted a stay of the compliance deadline for the Payday, Vehicle Title and Certain High-Cost Installment Loans Rule, allowing the industry to breathe a sigh of relief.


11.27.18

State Update: Enforcement, Oversight by States Continues

State attorneys general continue to fill the federal enforcement void, with the Pennsylvania attorney general soliciting redlining complaints and the attorney general in New York reaching a $65 million deal with a bank over incentivized compensation.


11.07.18

CFPB News

The Bureau of Consumer Financial Protection (CFPB or Bureau) may have changed its name under Acting Director Mick Mulvaney, but its recent enforcement action against a small-dollar lender in Tennessee makes it look just like the old CFPB.


10.10.18

New York DFS Files Second Suit Over OCC Fintech Charter

Here we go again: The New York Department of Financial Services (DFS) has filed its second lawsuit against the Office of the Comptroller of the Currency (OCC) over the agency’s plan to permit fintech companies to apply for Special Purpose National Bank Charters.


09.27.18

CFPB Updates: First Mulvaney Lawsuit, Questions About Disparate Impact

The latest news from the Bureau of Consumer Financial Protection (CFPB or Bureau) includes the first lawsuit filed under the leadership of Acting Director Mick Mulvaney, committee approval of his permanent replacement and the publication of the 17th edition of the Bureau’s Supervisory ...


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.


06.20.18

Enforcement: PHH Suit Gone but Other Enforcement Activity Continues

As the  Consumer Financial Protection Bureau (CFPB or Bureau) withdraws from enforcement, activity continues in the courts and with certain other regulators.


06.20.18

Payday Lender Wins Over South Dakota Banking Regulator

A payday lender in South Dakota scored a victory in its lawsuit against the state’s banking regulator when a federal court judge agreed that the South Dakota Division of Banking exceeded its authority by revoking the plaintiff’s operating licenses.


06.06.18

Short-Term Lending: Think Small, as OCC Nudges Banks

Not long after the CFPB’s acting director put the brakes on tough payday lending rules, the Trump administration likewise signaled that banks should move back into the $90 billion business.