Bloomberg BNA recently looked into the current state of “true lender” litigation. These issues do not directly impact NAFSA because our members are structured in a way in which the lending enterprise that originated the loan is also the entity that services the loan....
Meetings include the White House, CFPB, and Congressional Members This week, Native American Financial Services Association (NAFSA) members came together to continue the dialog for the tribal online lending industry meeting with White House officials, the Consumer...
Following a contentious committee hearing on the constitutionality of the Consumer Financial Protection Bureau (CFPB), Rep. Jeb Hensarling (R- TX), Chairman of the House Financial Service Committee, remains convinced that the CFPB’s parent legislation, the Dodd-Frank...
Industry leaders in e-commerce and online payments gathered last week at Harvard University for Innovation Project 2017. Innovation Project, a two-day conference created by the web publication PYMNTS.com, brings executives and innovators in banking, lending, shopping,...
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...
