Appeals Court Upholds $1.3 Billion Award Against Scott Tucker
← Previous Article Next Article → The Ninth Circuit Court of Appeals upheld a $1.3 billion award against Scott Tucker’s loan companies, rejecting Tucker’s arguments that the loan agreements were not unfair or deceptive. In the published opinion, U.S. Circuit...
The Fed Voices Concern over Rising Corporate Debt
← Previous Article Next Article → The Federal Reserve (Fed) issued its first-ever Financial Stability Report where it praised the financial sector for being strongly capitalized while voicing concern over the historically high level of corporate debt. In the...
Trump’s Nominee to Lead the CFPB Advances in the Senate
← Previous Article Next Article → The Senate voted to advance Kathy Kraninger’s nomination to lead the Consumer Financial Protection Bureau (CFPB). This procedural vote, which limits debate in the Senate, brings her one step closer to being the next director...
FDIC Seeks Outside Counsel for Operation Choke Point Suit
← Previous Article Next Article → Jelena McWilliams, chairman of the Federal Deposit Insurance Corporation (FDIC), announced earlier this month that the FDIC would hire outside legal counsel to review actions taken by the agency during Operation Choke Point....
Algorithms Fail to Eliminate Consumer-lending Discrimination
← Previous Article Next Article → Consumer discrimination continues in banking despite the advancement of algorithmic models used to automate the underwriting process, at least according to an academic study from Berkley. The study analyzed nearly 9 million...
Judge Rules in Favor of Tribal Lender BlueChip Financial
← Previous Article Next Article → U.S. District Judge Robert J. Bryan has stayed a proposed class action lawsuit against tribal lender BlueChip Financial (BlueChip) until the Ninth Circuit Court of Appeals issues a final ruling on whether the company can...
State-level Changes that Will Impact Financial Services
← Previous Article Next Article → During the midterms, Democrats not only flipped enough seats to gain control of the U.S. House of Representatives, but also made substantial gains at the state level, flipping 300 legislative seats across the country. Even...
CFPB and Think Finance Near Settlement
← Previous Article Next Article → On the one year anniversary of the Consumer Financial Protection Bureau’s (CFPB) lawsuit against Think Finance, both parties filed a joint motion last Friday to stay discovery for 60 days, a sign that both sides are nearing...
