• 09.28.17

    New From the CFPB: No-Action Letter, Online Aggregator Targeted

    In the latest Consumer Financial Protection Bureau news, the Bureau issued its first no-action letter (of any kind), and did so to an online lending platform.

  • 08.17.17

    Forecast: Abundance of Potential New Rulemaking From the CFPB

    After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies on notice about forthcoming rules on payday, title, high-cost installment ...

  • 08.17.17

    Legislation Would Legalize ‘Valid When Made’ Rule

    A new bill introduced by Sen. Mark Warner (D-Va.) would overrule the U.S. Court of Appeals, Second Circuit, decision in Madden v. Midland Funding and legalize the “valid when made” rule.

  • 06.22.17

    Supreme Court: FDCPA Doesn’t Cover Owned Debt

    A bank or other person may collect debts that it purchased for its own account without triggering the statutory requirements of the Fair Debt Collection Practices Act, a unanimous Supreme Court recently ruled.

  • 05.25.17

    Curry Defends OCC's Fintech Charter, New York's DFS Sues

    Stepping down as the leader of the Office of the Comptroller of the Currency (OCC), Thomas J. Curry highlighted the efforts of the agency to encourage financial innovation, particularly the agency's decision to grant fintech charters, as another lawsuit was filed challenging those charters.

  • 05.25.17

    Curry Defends OCC's Fintech Charter, New York's DFS Sues

    Stepping down as the leader of the Office of the Comptroller of the Currency (OCC), Thomas J. Curry highlighted the efforts of the agency to encourage financial innovation, particularly the agency's decision to grant fintech charters, as another lawsuit was filed challenging those charters.

  • 05.12.17

    CSBS Sues OCC Over Fintech Charters

    An organization of state banking regulators hit the Office of the Comptroller of the Currency with a lawsuit, claiming the federal agency’s plan to issue fintech charters exceeds its authority.

  • 05.12.17

    CFPB Updates: Consumer Reporting Supervisory Highlights, Loss Over CID

    In news at the Consumer Financial Protection Bureau, the agency released a special edition of its Supervisory Highlights focused on consumer reporting and was handed a major loss from the U.S. Court of Appeals for the D.C. Circuit in an attempt to enforce a civil investigative demand (CID).

  • 12.21.16

    CFPB Warns Financial Institutions About Incentives

    Use caution when creating incentives for employees and service providers to meet sales and other business goals, the Consumer Financial Protection Bureau warned financial institutions in a new Compliance Bulletin.

  • 12.13.16

    To Bank or Not to Bank? OCC's Fintech Charter

    Following months of speculation, on December 2, 2016, the Office of the Comptroller of the Currency (the "OCC") announced that it will consider applications from fintech companies seeking national bank charters.