CFPB Monitor

SEPTEMBER 10, 2020

The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision. The FDIC has not yet proposed a similar rule.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

MARCH 15, 2022

A California federal district court judge recently rejected the California AG’s challenge (in which other states joined) to the FDIC’s rule and, in a separate lawsuit, also rejected a challenge by the California AG and other state AGs to the OCC’s Madden -fix rule codified at 12 C.F.R. Section 7.4001(e).

California 78

California Innovation Utah West Virginia 78

PYMNTS

FEBRUARY 14, 2019

Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. State Bank Northwest has “chosen to not service (cannabis-related businesses) because the compliance and regulatory risks are too great for our bank,” Deckard said. Cash Dangers.

Oregon 230

Oregon Colorado Operations Washington 230

PYMNTS

FEBRUARY 13, 2019

Such prohibition could involve limiting FDIC protections for those deposits, for example, or trying to prevent loans to those businesses. State Bank Northwest has “chosen to not service (cannabis-related businesses) because the compliance and regulatory risks are too great for our bank,” he said. Cash Dangers.

Oregon 115

Oregon Colorado Operations Washington 115