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Preparing for Section 1071

Abrigo

Takeaway 3 Financial institutions should consider the impact of this rule and prepare for changes to their business operations. Online lenders, platform lenders, and fintechs should also consider sending feedback to the CFPB and considering the ways their operations might be affected. Those implementing regulations were coming.

Lending 195
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CFPB Updates Policy For Civil Investigative Demands

PYMNTS

The Consumer Financial Protection Act of 2010 authorizes the CFPB to issue CIDs when looking into potential violations of the law. Earlier this year, the CFPB announced leadership changes in a number of its departments, including the appointment of Andrew Duke as the policy associate director for external affairs.

Policies 115
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Best Community Banks to Work For 2022

Independent Banker

Once we’ve been here for 10 years, we are awarded a three-month paid sabbatical,” says Emilie Johnston, chief operations officer. We don’t operate from a position of fear.”. Founded in 1903, Grand Ridge National Bank has grown from around $30 million in assets in 2010 to approximately $325 million today. Reasons to stay.

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What We’ve Learned From Libra

PYMNTS

The potential for an association of private companies, conceived by Facebook, to operate a network and a currency that could usurp the power of central banks and governments to make fiscal and monetary policy has proven a bridge too far for them to cross. Regulators have to be assured that Libra isn’t a new way for bad guys to transact.

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2019: What To Take Forward And What To Leave Behind

PYMNTS

It’s almost as bad as saying it’s the “Year of The Sloth” – since, let’s face it, pigs are not typically prized for their wisdom, energy, vision or leadership qualities across the animal kingdom. Card networks do it with operating rules that keep bad actors from using their networks to do bad things.

Mobile 205
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Autopsy Report: 9 Startup Failure Stories And What We Can Learn From Them

CB Insights

After soaring to a multi-billion-dollar valuation behind an iconic founder, a team of prominent backers, and a promise to revolutionize blood testing, Theranos officially ceased operations in 2018. That July, it banned Holmes from owning or operating a lab for two years. The rise and fall of Theranos. Takeaways & lessons.

Report 78
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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Brothers Patrick and John Collison founded Stripe in 2010 in an attempt to gain share in online payments, a then-nascent market with seemingly boundless growth opportunity. Leadership and board members. Sigma aims to streamline business operations. Stripe’s business strategy: How the $35B unicorn sets itself apart.

Online 98