OCC Argues that Court Ruling on Fintech Charter “Must Wait”
← Previous Article Next Article → The Office of the Comptroller of the Currency (OCC) has recently submitted a motion asking a federal judge to dismiss a lawsuit against the agency’s plan to issue fintech charters, despite acknowledging that a court ruling...
Fintech Lenders Utilize Alternative Data to Visualize “Credit Invisibles”
← Previous Article Next Article → A new report by the Aite Group, prepared for and published by Experian, highlights the various ways that fintech lenders utilize alternative data to serve borrowers who may be rejected by traditional financial institutions...
USAA to Pay $15.5M in Deal with the CFPB
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB) announced in a consent order on Thursday, January 3, that the USAA Federal Savings Bank will pay customers more than $12 million in restitution and a $3.5 million fine. The...
CFPB Director Sends Memo to Staff Urging Open Minds
← Previous Article Next Article → Kathy Kraninger, the newly-installed director of the Consumer Financial Protection Bureau (CFPB), sent around a memo to staff that was obtained by the American Banker. In the email, Kraninger urged staff to “vigorously...
Maxine Waters Says She Will Focus on CFPB in 2019
← Previous Article Next Article → Representative Maxine Waters (D-CA-43), who will head the House Financial Services Committee in 2019, stated in a recent interview that her priority for the next two years will be to “try and undo the damage that [Mick...
Native Americans Make History in New Congress
← Previous Article Next Article → The 116th Congress came to order at noon today, beginning at least two years of divided government with Republicans in control of the Senate and Democrats in control of the House of Representatives. Four Native Americans,...
CFPB Lacks a Process to Prioritize Financial Risks to Consumers
← Previous Article Next Article → In its first financial technology report released last week, the United States Government of Accountability (GAO) said that the Consumer Financial Protection Bureau (CFPB) does not have a process to prioritize work based on...
Court Reminds State Regulator of Tribal Sovereignty
← Previous Article Next Article → The Connecticut Superior Court recently issued a ruling in favor of the plaintiff in Great Plains Lending v. State of Connecticut Department of Banking, et al. The court argued that the state regulator erred in its...
