OCC Releases Draft Licensing Manual for FinTech Charters

OCC Releases Draft Licensing Manual for FinTech Charters

The OCC recently published its draft licensing manual for FinTech companies interested in limited-purpose national bank charters. Although not participating in all banking activities, OCC chartered FinTech companies would still need to comply with all federal banking...
New Bill in Senate Could Establish CFPB Inspector General

New Bill in Senate Could Establish CFPB Inspector General

Senator Rob Portman (R- OH) introduced new legislation on March 15th intended to improve transparency and accountability at the Consumer Financial Protection Bureau (CFPB) by establishing an Inspector General at the independent federal agency. The new CFPB Inspector...
Update on the Constitutionality of the CFPB: PHH v. CFPB

Update on the Constitutionality of the CFPB: PHH v. CFPB

The constitutionality of the structure of the Consumer Financial Protection Bureau’s (CFPB) authority continues to be debated in Congress and federal courts. Back in October 2016, the federal circuit court in Washington, D.C. found that the single director management...
CFPB Looks to Clean Up Credit Reporting

CFPB Looks to Clean Up Credit Reporting

The Consumer Financial Protection Bureau (CFPB) announced last week that it intends to improve all areas of the credit reporting process. Since its inception in 2010, the CFPB has received nearly 200,000 complaints related to credit reporting. The agency noted its...

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