Aug 7, 2019 | Banks & Credit Unions, News
← Previous Article Next Article → Last week, we told readers that Federal Reserve (Fed) Chairman Jerome Powell was “seriously considering” a real-time payments system. A week later, the Fed officially announced that it would begin developing a...
Aug 7, 2019 | Federal Regulation, Litigation, News
← Previous Article Next Article → On August 2, 2019, the defendants and plaintiffs in a lawsuit over the Consumer Financial Protection Bureau’s (CFPB) Small-Dollar Rule asked a Texas district court to continue its stay of the Rule, including both the...
Aug 2, 2019 | Banks & Credit Unions, Federal Regulation, News
← Previous Article Next Article → In a letter to Congress, Federal Reserve Chairman Jerome Powell indicated that the U.S. Federal Reserve (Fed) was “seriously considering” a real-time payments system, and that the Fed was uniquely structured to oversee the...
Jul 30, 2019 | Federal Regulation, News
← Previous Article Next Article → A federal court in Texas recently shutdown a “rogue payment processor” and a “credit card interest reduction scheme” that allegedly took millions of dollars from consumers illegally, according to the Federal Trade Commission...
Jul 30, 2019 | Federal Regulation, News
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB) along with the New York Attorney General (AG) proposed settlements with several debt collectors that were allegedly in violation of the Consumer Financial Protection Act, the...
Jul 26, 2019 | Federal Regulation, FinTech, News
← Previous Article Next Article → The payment provisions of the Consumer Financial Protection Bureaus’ (CFPB) small-dollar rule (the Rule), also known as the payday rule, is set to go into effect on August 19, 2019. Last month, the CFPB updated its Small...
Jul 26, 2019 | Federal Regulation, Litigation, News
← Previous Article Next Article → Equifax reached a large financial settlement with federal and state regulators last week, stemming from their mishandling of the 2017 data breach that impacted nearly 150 million Americans. The settlement would resolve a...
Jul 24, 2019 | Banks & Credit Unions, Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → The U.S. Senate Banking Committee led by Chairman Mike Crapo (R-ID) and Ranking Member Sherrod Brown (D-OH) held an unprecedented hearing on cannabis banking on July 23. The Senators focused their remarks on the Secure and...
Jul 24, 2019 | Congressional Legislation, Federal Regulation, FinTech, News
← Previous Article Next Article → Earlier today, a congressional delegation sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (CFPB), urging the CFPB to adhere to the agency’s policy on Tribal Consultation. The signers of...
