House Democrats Urge Facebook to Halt Plans for Digital Currency
← 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...
Fourth Circuit Upholds Tribal Sovereignty by Ruling in Favor of Lac Vieux Desert Band of Lake Superior Chippewa Indians
← 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...
Panelists at CFPB Symposium Urge Guidance on “Abusive Standard”
← 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...
Credit Union Regulator Delays Higher Capital Requirement to 2022
← 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...
Big Banks Easily Pass Federal Stress Tests
← 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...
States Agree to Regulatory Cooperation
← 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... Federal Regulators Provide (Some) Regulatory Relief for Small Banks
← 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...
New Study: Fintech Reduces Discrimination in Lending
← Previous Article Next Article → Although discrimination in lending remains a problem in America today, discrimination is declining, largely as a result of fintech firms’ use of algorithms. According to the latest research, fintech algorithms discriminate...
