Rep. Emmer Sees Minnesota Emerging as FinTech Leader
In a recent opinion column published on MinnPost, U.S. Representative Tom Emmer argued that Minnesota is poised to become a national hub for development of financial technologies, or fintech. Emmer represents Minnesota’s 6th Congressional District, which includes St....
Experts Predict Apple Card Will Change the Game for Credit Products
When Apple launched its new Apple Card product earlier this year, experts saw it as having the potential to create a shift in the credit card industry due to the way Apple tackles customer interactions. Specifically, customers can apply and start using the card within...
LVD Expands Health Care Services
Last week, the Watersmeet, Michigan-based Lac Vieux Desert Band of Lake Superior Chippewa Indians, along with the Lac Vieux Desert Health Center, announced that a new satellite health clinic will open in Eagle River, Wisconsin early next year. The new clinic will...
SoFi Fined $110,000 For Unlicensed Mortgage Servicing in Pennsylvania
Earlier this week, the Pennsylvania Department of Banking and Securities (PA DOBS) fined SoFi Lending Corp., a subsidiary of SoFi that provides mortgage finance services in the state, $110,000 for servicing mortgages without a state license. Since June 30, 2018,...
CFPB Director Kraninger Convenes Symposium on Section 1071 of Dodd-Frank Act
Yesterday, CFPB Director Kathleen Kraninger convened the third in a series of symposia that she previously said was “aimed at stimulating a robust, proactive, and transparent dialogue with experts reflecting diverse viewpoints across a range of subject matter areas.”...
House Financial Services Committee to Tackle Multiple Topics in November
Last week, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) announced several committee hearings and topics that her committee is set to address over the month of November. The House is currently out of session on a District Work Period through...
CFPB Announces Dollar Thresholds for Truth in Lending and Consumer Leasing
Last week, the Consumer Financial Protection Bureau (CFPB) announced new dollar thresholds for Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) that will apply for determining exempt consumer credit and lease transactions in 2020. These thresholds...
Supreme Court Assigns Defender of the CFPB
Last week, the U.S. Supreme Court appointed Paul Clement to defend the constitutionality of the Consumer Financial Protection Bureau (CFPB) in Seila Law v. CFPB. Normally, the Department of Justice would defend the CFPB in a case such as this, but the Trump...
