Follow

Consumer Finance and Fintech Blog Blog

Articles: 1-10 of 157

Connecticut Banking Commission Releases Advisory on Money Transmission

USA - August 11 2022 On July 20, 2022, the Connecticut Department of Banking (the “Department”) issued a Consumer and Industry Advisory on Money Transmission (the…

Regulators Remind Auto Industry of Servicemember Protections

USA - August 11 2022 On July 29, the CFPB and DOJ issued a joint letter to the auto lending and leasing industry reminding auto companies of their obligations under the…

Payment Processor Agrees to Refund Customers After FTC Alleges Surprise Exit Fees and Zombie Charges On Small Businesses

USA - August 11 2022 On July 29, a payment processor company and its two sales affiliates (defendants) agreed to a stipulated order with the FTC to settle charges that…

4th Circuit: Borrower Must Return Loan Proceeds After Rescission Despite Lender’s Failure to Meet TILA Requirements

USA - August 5 2022 Recently, the United States Court of Appeals for the 4th Circuit held that a mortgage servicer’s failure to provide a required disclosure informing…

CFPB’s Chopra Has Payments and Crypto In Focus

USA - August 5 2022 On July 27, CFPB Director Chopra was interviewed in multiple publications, here and here, about, among other topics, how the CFPB could seek to help…

CFPB Continues Efforts to Promote Competition in Financial Markets

USA - August 5 2022 On July 11, CFPB Director Rohit Chopra drafted a blog post detailing the Bureau’s efforts to comply with President Biden’s Executive Order on…

Fed Reports on Cybersecurity and Financial System Resilience

USA - August 5 2022 Recently, the Federal Reserve Board (Fed) published its annual Cybersecurity and Financial System Resilience report describing measures it has taken…

CFPB, DOJ Propose $22 Million Penalty Against Nonbank Mortgage Lender for Illegal Redlining

USA - August 5 2022 On July 27, the CFPB and DOJ proposed a settlement with a nonbank mortgage lender for its discriminatory “redlining” lending practices against…

DOJ Investigating FinTech Over PPP Loans

USA - July 28 2022 On June 3, a federal court filing in the Southern District of Florida by an Atlanta-based FinTech company revealed that the small business lender is…

DFPI Second Rulemaking Proposal on Debt Collection Licensing

USA - July 28 2022 On July 15, the California DFPI released draft text for a proposed second rulemaking under the Debt Collection Licensing Act (DCLA) relating to the…