Jul 9, 2019 | Congressional Legislation, News
← Previous Article Next Article → On Thursday, July 11, the House Financial Services Committee will consider several legislative bills that would modify certain aspects of credit reports, including the proper use of alternative data and the length of time...
Jul 8, 2019 | Banks & Credit Unions, FinTech, News
← Previous Article Next Article → Over the last two years, banks have increased their lending to nondepository financial institutions, many of which are fintech firms, by 23 percent, according to data compiled by FedFis. In comparison, commercial and credit...
Jul 5, 2019 | Federal Regulation
← Previous Article Next Article → Twenty-five state attorneys general (AGs) sent a letter to Kathy Kraninger, director of the Consumer Financial Protection Bureau (CFPB), urging the CFPB to not weaken or rescind the overdraft rule. “We are aware of no...
Jul 5, 2019 | Congressional Legislation, FinTech
← Previous Article Next Article → Several House Democrats, led by Maxine Waters, chair of the House Financial Services Committee, sent a letter to Facebook executives urging them to halt plans for a new digital currency called the Libra.“We write to request...
Jul 3, 2019 | Litigation, NAFSA News, News, Tribal Sovereignty
← Previous Article Next Article → In a ruling filed on July 3 by the United States Court of Appeals for the Fourth Circuit in the case Williams et al v. Big Picture Loans, LLC et al, a three-judge panel ruled that Big Picture Loans and Ascension Technologies...
Jun 27, 2019 | Federal Regulation, News
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB) held its first symposium earlier this week where it focused on the abusive standard of unfair, deceptive, and abusive acts or practices (UDAAP). Lawyers participating in the...
Jun 24, 2019 | Banks & Credit Unions, News
← Previous Article Next Article → The National Credit Union Administration (NCUA) proposed last week to delay the effective date of its risk-based capital rule until January 1, 2022. The rule would generally require larger credit unions, with assets more...
Jun 24, 2019 | Banks & Credit Unions, News
← Previous Article Next Article → The nation’s largest and most complex banks easily passed the Federal Reserve’s annual stress tests, despite undergoing a scenario that simulated the most severe economic downturn yet tested.The simulation projected $410...
Jun 24, 2019 | Federal Regulation, News
← Previous Article Next Article → Earlier today, the Conference of State Bank Supervisors (CSBS), announced that 23 states have agreed to accept other states’ reviews of companies’ licensing process for money transmitters and other money services businesses...
Jun 20, 2019 | Federal Regulation, News
← Previous Article Next Article → The three federal bank regulators – the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve (the Fed), and the Office of the Comptroller of the Currency (OCC) – issued a final rule that will...
