Informing the Misinformed: the Regulatory Sophistication of Tribal Online Lending
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,...
Gorsuch Answers Questions on Tribal Issues Record During Confirmation Hearing
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...
U.S. Dept. of Justice Supports Restructuring of CFPB in Brief to Federal Court
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....
New York Ups Regulation of FinTech, Disputes Need for Federal Charters
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...
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
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 Highlights Tribal Sovereignty, Online Lending as Presenting Sponsor of National RES
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...
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...
