• 06.23.16

    CFPB Releases Proposed Regulation of Payday Loans

    In a long anticipated move, the Consumer Financial Protection Bureau (CFPB) proposed a rule to regulate so-called "debt traps" by requiring lenders to take additional steps to ensure consumers have the ability to repay certain types of small loans and placing limits on reborrowing or ...

  • 06.10.16

    New York's DFS Reaches $3M Deal Involving Payday Lending Debts

    Continuing its efforts against payday lenders, New York's Department of Financial Services (DFS) announced a consent decree with National Credit Adjustors (NCA) and Webcollex totaling $3 million.

  • 05.26.16

    New Guidance From FFIEC on Mobile Financial Services

    Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC).

  • 05.25.16

    Justice Department Sides With Financial Industry on Madden Case

    Marketplace loan investors may want to "gather ye discounted Madden loans while ye may," as the Robert Herrick poem reads (taking some fintech license, of course).

  • 05.12.16

    Treasury Issues White Paper on Marketplace Lending

    On May 10, 2016, the U.S. Department of the Treasury released its highly anticipated white paper on online marketplace lending.

  • 03.31.16

    Monthly Complaint Snapshot, Supervisory Highlights, and Complaints About Online Marketplace Lenders

    The Consumer Financial Protection Bureau (CFPB) has had a busy few weeks, releasing the latest monthly snapshot of consumer complaints, publishing its Supervisory Highlights newsletter to reveal the Bureau has recovered $14.3 million for consumers, and announcing that it will begin to accept ...

  • 03.10.16

    $6.5M Fine for Persistent BSA/AML Failures

    A $6.5 million civil money penalty imposed against a $1.57 billion Florida bank for persistent anti-money laundering (AML) and Bank Secrecy Act (BSA) deficiencies provided an appropriate back drop for two enforcement-related announcements by the Office of the Comptroller of the Currency (OCC).

  • 03.09.16

    Crowdfunding: Disclosing Both Pros and Cons?

    Crowdfunding has grown tremendously in the past few years, and with the recent finalization by the Securities and Exchange Commission of its rulemaking under a 2012 law, there may be an even greater expansion of investor opportunities.

  • 03.01.16

    Madden Tells SCOTUS That Marketplace Lenders Should Not Worry About Madden

    As the Marketplace Lending (MPL) industry gears up for the upcoming conference trifecta—ABS Vegas, AltFi Europe and LendIt USA 2016, the effect of the Midland Funding, LLC et al. v. Saliha Madden case and its pending appeal before the U.S. Supreme Court is palpable.

  • 02.18.16

    FDIC Dips Its Toes Into Marketplace Lending

    In the Winter 2015 edition of the Federal Deposit Insurance Corporation's (FDIC) Supervisory Insights, the agency provided an overview of the marketplace lending model, "a small but growing component of the financial services industry that some banks are viewing as an opportunity to ...