• 05.08.19

    Second Circuit: Tribal Officials Must Face Suit

    The U.S. Court of Appeals, Second Circuit has ruled that an online tribal lender must comply with state interest rate and licensing laws, allowing a pair of borrowers to move forward with their suit against tribal officials.

  • 05.08.19

    From SEC to FinCEN Enforcement Everywhere

    Reminding financial institutions that a multitude of enforcers are at their doorstep, the Securities and Exchange Commission (SEC) announced a $3 million deal with an online lender.

  • 04.24.19

    State AGs Keep Busy With Enforcement Actions

    Continuing to fill in gaps at the federal level, state attorneys general are keeping busy with enforcement actions, and on issues that might have received more CFPB attention under the old Cordray regime.

  • 04.24.19

    What’s Old Is New: FTC Settles With Online Lender

    An online lender recently agreed to pay a $3.85 million settlement to the Federal Trade Commission (FTC) for allegedly engaging in deceptive and unfair acts and practices relating to its consumer loans.

  • 04.12.19

    SEC Issues First ‘No Action’ Letter Permitting an Unregistered ICO: One Hand Giveth . . .

    The staff of the SEC issued a no-action letter Wednesday, April 3, 2019, to TurnKey Jet, Inc., agreeing that digital tokens used by the business-travel startup did not meet the definition of a security.

  • 04.10.19

    California’s DBO: New Leader, New Enforcement, New Bureau?

    The California Department of Business Oversight (DBO) will likely have a new commissioner in the coming months, with Affirm General Counsel and Chief Compliance Officer Manuel “Manny” Alvarez tapped to take the helm.

  • 03.27.19

    Madden Litigation Sputters Out With Settlement

    After eight years of litigation—and a major ruling from the U.S. Court of Appeals for the Second Circuit that has spawned uncertainty and a chilling effect for lenders—the parties in Madden v. Midland Funding have reached a deal that would bring the case to a close.

  • 03.13.19

    Deal Final in FTC’s Action Against Online Lender

    The Federal Trade Commission (FTC) has finalized its deal with SoFi, an online lender that the agency had accused of making false statements about student loan refinancing.

  • 03.13.19

    From Fintech Charters to Sandboxes

    Financial technology news includes the continuing battle over the Office of the Comptroller of the Currency’s (OCC) plan to issue special-purpose national bank (“fintech”) charters, with the agency seeking to dismiss lawsuits by the Conference of State Bank Supervisors (CSBS) and ...

  • 02.27.19

    State Regulators Move to Streamline Fintech Regulation

    State regulators have reached an agreement on multistate licensing and supervision standards for the financial technology industry, drawing from recommendations made by a group of several dozen fintech companies.