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FTC announces $40 million settlement with payment processor in credit card laundering case

USA - May 21 2020 On May 19, the FTC filed a complaint against a large payment processing company and its former executive for allegedly participating in deceptive or…

SBA clarifies PPP eligibility for foreign affiliates

USA - May 21 2020 On May 21, the SBA recently published an interim final rule (IFR), which addresses the eligibility requirements related to employees of a Paycheck…

Arizona regulator streamlines license renewal process

USA - May 20 2020 The Arizona Department of Financial Institutions announced the implementation of a new license renewal process that will enable licensees to renew…

FTC, FCC warn VoIP service providers about Covid-19 robocalls

USA - May 20 2020 On May 20, the FTC and the FCC sent letters to three more Voice over Internet Protocol (VoIP) service providers, warning the companies to stop…

Prudential regulators outline principles on small-dollar lending

USA - May 20 2020 On May 20, the FDIC, Federal Reserve Board, OCC, and NCUA issued joint principles for offering responsible small-dollar loans. The agencies note the…

Rhode Island courts to recommence eviction proceedings on June 2, 2020

USA - May 20 2020 On May 20, State of Rhode Island District Court issued Administrative Order 2020-02, announcing that it would recommence adjudicating eviction…

Federal Reserve Bank of New York announces first subscription date of loan facility program

USA - May 20 2020 On May 20, the Federal Reserve Bank of New York announced the first loan subscription date for the Term Asset-Based Securities Loan Facility (TALF)…

CFPB further extends comment period for proposed rulemaking on time-barred debt disclosures

USA - May 19 2020 On May 19, the CFPB announced a further extension to the comment period on its Supplemental Notice of Proposed Rulemaking (NPRM) related to…

Financial institutions, CRA reach settlement over 2017 data breach

USA - May 19 2020 On May 15, a putative class of financial institutions filed an unopposed motion for preliminary approval of a settlement in a Multidistrict…

Pennsylvania authorizes real estate businesses to commence in-person operations

USA - May 19 2020 On May 19, the Pennsylvania governor issued a revised Executive Order permitting all businesses in the real estate industry to commence in-person…