In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more
1/17/2024
/ Abusiveness Standard ,
Bots ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Wallets ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
New Guidance ,
Non-Bank Lenders ,
Regulatory Oversight ,
Standard Form Contracts ,
Stock Options ,
Wage Advances ,
Wages
In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Fintech industry.
So, what happened in 2022?...more
In a victory for fintechs and the banks that partner with them, the U.S. District Court for the Northern District of California recently turned back two challenges by a consortium of state attorneys general to the "valid when...more
On August 18, 2021, the California Department of Financial Protection and Innovation ("DFPI") released draft regulations and an invitation for comments under the California Consumer Financial Protection Law ("CCPL"). The CCPL...more
Though a legal concept in existence in our nation’s jurisprudence for more than two hundred years, “valid when made” continues to be a heated topic of debate. Such controversy is to be expected given the treatment (or...more
6/18/2020
/ Debt Buyers ,
Dodd-Frank ,
Financial Regulatory Reform ,
Financial Services Industry ,
Interest Rates ,
Madden v Midland Funding ,
National Bank Act ,
OCC ,
Preemption ,
Trustees ,
Trusts ,
Usury ,
Valid When Made Doctrine
If the current pandemic has taught us anything, it is that we depend on each other for in-person contact more than we thought. This is especially true for unbanked and underbanked consumers seeking financial services....more
5/18/2020
/ Car Dealerships ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Credit ,
Cybersecurity ,
Debt Collection ,
E-Signatures ,
Financial Services Industry ,
FinTech ,
Loan Applications ,
Loan Origination Funds ,
Marketing ,
Moratorium ,
Remote Working ,
Risk Assessment ,
Risk Mitigation ,
Shelter-In-Place
The debt settlement industry received some "regulation by enforcement" in the wake of a settlement of the lawsuit filed by the Consumer Financial Protection Bureau ("CFPB") against Freedom Debt Relief, LLC ("FDR"). The...more
8/5/2019
/ Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Relief ,
Debt Settlement Services ,
Debt-Relief Industry ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Stipulated Judgment ,
Telemarketing Sales Rule
FinTech and RegTech Trends to Watch -
Much has been written about FinTech and RegTech in the last few years and, for many lenders, such terms aren’t wholly relevant to the day-to-day operations of their businesses – or are...more
7/31/2019
/ Artificial Intelligence ,
Biometric Information ,
Blockchain ,
Compliance ,
Consumer Financial Products ,
Customer Service Standard ,
Data Management ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
Lenders ,
Mobile Banking ,
RegTech ,
Regulatory Standards