Neil Gorsuch, nominee to the U.S. Supreme Court, fielded questions on the second day of his confirmation hearing from the Senate on March 22nd about his record on Native American issues as a judge on the Tenth Circuit Court. The Tenth Circuit includes states with a...
On March 17th, the U.S. Department of Justice filed an amicus brief with the U.S. Circuit Court in Washington, D.C. regarding the continued dispute over the constitutionality of the Consumer Financial Protection Bureau’s single independent director structure in PHH v....
A recent budget proposal by New York Governor Andrew Cuomo includes increased funding to help the NY Dept. of Financial Services (NYDFS) expand licensing requirements to FinTech lenders. FinTech lending companies were previously exempt from state usury licenses. The...
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...
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...
NAFSA Brings Indian Country’s Online Lenders to Major Economic Development Event LAS VEGAS – Native American Financial Services Association (NAFSA) hosted its first Financial Services Expo on March 14th and 15th, 2017 with tribal and industry leaders, legal...
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...
Last week, I spent several days on Capitol Hill to meet with lawmakers and staff on key committees. While there, I discussed the growing financial services industry and why federal law and regulation is holding it back. I met with members of the House Financial...
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...
House Resolution 1009 passed the U.S. House of Representatives on Friday, March 3rd, by a vote of 241-184 to require the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration (NCUA) to submit all rules to the Office of Management of...
