Join us for the next edition of FinTech University as we focus on FinTech and bank regulations. This webinar will examine how bank regulations affect the FinTech industry (and vice versa), and what banks need to know when...more
The NCUA stated the new rule, which was approved on Feb. 16, 2023, aims to mitigate cyber incidents “that [lead] to a substantial loss of confidentiality, integrity, or availability of a network or member information system...more
3/7/2023
/ Credit Unions ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Financial Institutions ,
Financial Services Industry ,
Information Governance ,
NCUA ,
New Regulations ,
Popular ,
Regulatory Requirements
Join us for the next edition of FinTech University as we focus on FinTech and Data Privacy. This webinar will provide an overview of data privacy and securities concerns, as well as regulations, and how they affect the...more
The federal bank regulatory agencies issued a request for public comment this week on proposed interagency guidance designed to help banking institutions manage risks associated with third-party relationships....more
The Office of the Comptroller of the Currency (“OCC”) issued its long-anticipated final rule on Oct. 27, to establish a “simple, bright-line test” to determine when a national bank or federal savings association has made a...more
In early August an Assurance of Discontinuance (the “AOD”) was entered into by all parties in the actions brought by the Colorado Attorney General and the Colorado Uniform Consumer Credit Code Commissioner against Avant of...more
Last week, the U.S. District Court for the Northern District of Florida ruled in favor of SBA lenders with respect to the treatment of “agent fees” under the Paycheck Protection Program (PPP)....more
CFPB Director Kathleen L. Kraninger appeared Before the Senate Committee on Banking, Housing, and Urban Affairs on July 29 to deliver the Bureau’s most recent Semi-Annual Report to Congress. This report was particularly...more
The CFPB announced its plan to issue an advance notice of proposed rulemaking (“ANPR”) on consumer-authorized access to financial records. The announcement follows a symposium on the topic, which was hosted by the Bureau this...more
As anticipated, on July 20, 2020, the Office of the Comptroller of the Currency (“OCC”) proposed rulemaking to determine that when a national bank or federal savings association makes a loan it is the “true lender,” when...more
Earlier this week, the CFPB announced a final rule covering small dollar lending which rescinds the mandatory underwriting provisions of the 2017 Payday Lending Rule. ...more
The Office of the Comptroller of the Currency (“OCC”) adopted a final rule on June 2, 2020 that clarifies that when a bank transfers a loan, the interest permissible before the transfer continues to be permissible after the...more
The federal banking agencies recently issued principles to encourage financial institutions to offer small-dollar loans in a responsible manner (the “Small-Dollar Loan Principles”). This interagency guidance clarifies...more
Last week the Department of Justice (DOJ) announced criminal charges against U.S. Bancorp “consisting of two felony violations of the Bank Secrecy Act (‘BSA’) by its subsidiary, U.S. Bank National Association (the ‘Bank’),...more
Following nearly three years of litigation, the D.C. Circuit handed down a 7 to 3 ruling in PHH Corp. v. Consumer Financial Protection Bureau. The two hundred fifty page opinion addressed not only the constitutional...more
2/8/2018
/ Administrative Proceedings ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Kickbacks ,
Mortgage Insurance ,
Mortgages ,
PHH Corp. v CFPB ,
Reinsurance ,
Removal For-Cause ,
RESPA ,
Single Director
Seven states have agreed to a multi-state compact standardizing key aspects of money services business (MSB) licensing. As of today, Georgia, Illinois, Kansas, Massachusetts, Tennessee, Texas, and Washington have joined into...more
On Monday, the Securities and Exchange Commission (SEC) announced it had obtained a court order suspending AriseBank’s (Arise) initial coin offering (ICO) whose public sale began in late December. According to the SEC, Arise...more