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.
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.
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 ...
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.
Is virtual currency “money” for purposes of the Pennsylvania Money Transmitter Act?
Small-dollar lending made headlines recently, with a group of 14 attorneys general responding to the Federal Deposit Insurance Corporation’s (FDIC) request for information (RFI) on the subject and a new California Department of Business Oversight (DBO) enforcement action.
Comptroller of the Currency Joseph Otting recently weighed in on fintechs, presenting a positive picture for fintech companies considering seeking a special purpose national bank charter from the Office of the Comptroller of the Currency (OCC).
In the financial technology industry (fintech), 2018 was a fascinating and fast-paced year.
The California Department of Business Oversight (DBO) has started the process of developing regulations to implement SB 1235, which imposes new disclosure requirements for commercial financing in the state.
Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams emphasized the need for partnership and collaboration with the financial services industry, in recent remarks at a fintech conference.