CFPB Monitor

FEBRUARY 12, 2019

PLI’s 24th Annual Consumer Financial Services Institute will take place on March 25-26, 2019, in New York City (and by live webcast and groupcast in Philadelphia, Pittsburgh, and Mechanicsburg, Pennsylvania, and New Brunswick, New Jersey); on May 20-21, 2019, in Chicago; and on December 9-10, 2019, in San Francisco (and by live webcast).

FDIC 68

FDIC San Francisco New York City New Jersey 68

CFPB Monitor

APRIL 18, 2019

The second presentation of PLI’s 24th Annual Consumer Financial Services Institute will take place in Chicago on May 20-21, 2019. Approximately 400 people attended the first presentation in NYC, live and on the web, on March 25-26, 2019. The leadership of the CFPB, OCC, FDIC and FTC is now firmly under Republican control.

Chicago 68

Chicago FDIC Regulation Leadership 68

CFPB Monitor

JANUARY 5, 2021

federal district court challenging the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. Vullo is the lawsuit filed by the New York Department of Financial Services challenging the OCC’s SPNB charter for non-depository fintechs. 7.4007, 7.4008, 34.4)

Conference 78

Conference Technology District of Columbia FDIC 78

CFPB Monitor

SEPTEMBER 10, 2020

In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. A number of states have challenged these regulations.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

MAY 16, 2019

The proposal’s comment period closes on July 15, 2019. Under current regulations, private equity firms are ineligible to register as bank holding companies because they are control companies that are engaged in impermissible activities. For more on the proposal, see the attached discussion.

Utah 68

Utah Fintech New York National 68

CFPB Monitor

MAY 4, 2021

The lawsuit represents CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. In the third complaint, CSBS also asks the court to declare that the OCC’s preemption regulations (12 C.F.R. The first two lawsuits were dismissed on ripeness grounds.

Technology 78

Technology National Regulation FDIC 78

PYMNTS

OCTOBER 30, 2019

Open banking jumped onto the financial services scene with a focus on enabling consumer-facing FinTech platforms to connect with their users’ bank account data. The company operates a suite of APIs for financial institutions and FinTechs to connect data and power customer-facing products. Banks, FinTechs Team Up.

Lending 102

Lending Fintech America Data 102

CFPB Monitor

NOVEMBER 6, 2019

The third location of PLI’s 24th Annual Consumer Financial Services Institute will take place in PLI’s San Francisco Conference facility and via concurrent live Webcast on December 9-10, 2019 in San Francisco (and by live webcast). I will co-moderate a discussion among CFPB, FTC and FDIC representatives.

San Francisco 60

San Francisco FDIC Conference blockchain 60

PYMNTS

OCTOBER 29, 2018

The 2019 planning sessions that will mark the next 60 days will no doubt include topics of conversation about the scariest things in payments that could knock key players off their game – or turn their plans upside down. FinTechs … and the Banks They Wanted to Disrupt. 93 percent had a bank account.

Payments 196

Payments Google Apple Innovation 196

CB Insights

DECEMBER 4, 2019

In parallel, Amazon has made several fintech investments, mostly focused on international markets (India and Mexico, among others) where partners can help serve Amazon’s core strategic goal. This report is a collection of everything we know about Amazon’s foray into banking, financial services, and fintech.

Cards 101

Cards Lending Strategy US 101

PYMNTS

DECEMBER 7, 2020

Facebook’s Libra (OK, now it’s been renamed to Diem ) looms as 2021 dawns – maybe – and in a form diminished from its initial ambitions back in 2019, to disrupt the monetary system itself. Companies that seek to issue stablecoins will have to get approval from the Fed, the FDIC and other regulators at least six months prior to launch.

Regulation 192

Regulation United States Cleveland cryptocurrency 192