CFPB Monitor

OCTOBER 6, 2022

A California state court has overruled the demurrer filed by Opportunity Financial, LLC (OppFi) to the cross-complaint filed by the California Department of Financial Protection and Innovation (DFPI) in which OppFi asked the court to reject the DFPI’s “true lender” challenge.

California 78

California FDIC Analysis Utah 78

PYMNTS

AUGUST 25, 2016

Though small businesses have suffered from a gap in financing availability post-2008, the demographic continues to shape the financial markets. The company takes a more narrow focus to small business lending than some other FIs by targeting the western U.S. A Regional Reach. So, there is a real need, and we see this trend line growing.”

Regulation 100

Regulation Lending Community California 100

CFPB Monitor

FEBRUARY 21, 2019

A bill introduced last week in the California State Assembly could change the consumer lending landscape in California considerably. The CFL provides certain factors to determine whether a loan is of a “bona fide principal amount” or if there has been some artifice to evade regulation under the CFL.

California 68

California Regulation Lending Security 68

CFPB Monitor

MARCH 16, 2023

On February 27, 2023, the Consumer Financial Protection Bureau (CFPB) entered into a consent order against RMK Financial Corporation d/b/a Majestic Home Loan (RMK), a California-based mortgage lender, based on allegations that it falsely implied government endorsement of its home loans in its marketing. Continue Reading

California 78

California Lending Marketing FDIC 78

PYMNTS

DECEMBER 10, 2016

Two years ago today, Lending Club was ringing the bell on an IPO that one early investor called “a no-brainer.”. The consumer credit market has huge potential — trillions and trillions of dollars — and I wanted to ride that winner. And disrupt Lending Club did, with its marketplace lending model, scores of imitators in the U.S.

Lending 100

Lending Compliance Capital Marketing 100

CFPB Monitor

JUNE 8, 2016

On June 9, 2016, the FTC will host a “ FinTech forum on marketplace lending ,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.”

Lending 60

Lending Fintech California Survey 60

Abrigo

SEPTEMBER 5, 2023

unsecured lending is bad rather than unsecured lending should only be extended to high pass risk rated credit). Path to removal – Sometimes an exception is like the Hotel California – you can check out anytime you like, but you can never leave. It just stays on forever.

Policies 195

Policies Lending Risk Management Examples 195

PYMNTS

NOVEMBER 25, 2019

In the November Credit Union Tracker , PYMNTS explores the latest in the world of CUs, including new Congressional regulations, partnerships between CUSOs and technology providers, and the new generation of cybersecurity threats. Another CU issue currently awaiting federal regulation is legalized marijuana.

Alaska 154

Alaska Hawaii California Analytics 154

Independent Banker

JULY 31, 2022

Locality Bank, a digital-first community bank serving south Florida that opened in January, is run by industry veterans with such successful track records that regulators signed off on their application for a charter in less than a year. Location: Fort Lauderdale, Fla. That’s no small feat for any de novo, especially during a pandemic.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

JULY 16, 2018

The push comes in the wake of California passing legislation that allows consumers to demand that companies disclose how and why they are collecting data. In another nod toward privacy, Microsoft wants to see government regulation of facial recognition technology. The junk market, so to speak, is worth as much as $2.3

National 100

National California Regulation United States 100

Independent Banker

FEBRUARY 24, 2016

Regulators warn once again about rising CRE concentrations and risks. A whopping 95 percent of ICBA members are active commercial real estate (CRE) lenders, according to the latest ICBA Community Bank Lending Survey. He adds that regulators and bank management need to act to prevent those risks from becoming reality. “We

Community Bank 70

Community Bank Lending Community Regulation 70

PYMNTS

MARCH 30, 2020

As COVID-19, the disease caused by the coronavirus , ravages the economy, and millions of Americans shelter in place to figure out their next financial moves amid layoffs and volatile markets, credit unions (CUs) have a role to play — particularly in the battle against fraudsters who would prey upon CU members at this most vulnerable moment.

Tools 143

Tools Fraud Data Security 143

Independent Banker

DECEMBER 31, 2021

Regulators haven’t yet broached the subject with them. That’s followed by residential mortgage lending (36.3%), small business lending (32.1%), commercial and industrial (C&I) lending (30%) and agricultural lending (23.6%). Addressing ESG is one thing,” she says. Naudon, president and CEO of Ponce Bank.

Community Bank 144

Community Bank Community Lending Louisiana 144

CFPB Monitor

SEPTEMBER 14, 2018

The CFPB filed its first new lawsuit under acting Director Mulvaney yesterday, alleging that a pension advance company and its president made predatory loans to consumers that were falsely marketed as asset purchases. The investigation presumably continued, resulting in yesterday’s complaint filed in California federal court.

Leadership 68

Leadership California Lending Regulation 68

PYMNTS

SEPTEMBER 25, 2020

However, in PYMNTS’ own coverage, the twin external forces of market pressures and regulatory scrutiny are making financial institutions (FIs) retool and bolster their anti-money laundering (AML) efforts. MineralTree bought Atlanta-based Regal Software and California FinTech Inspyrus. Trackers And Reports.

Maine 153

Maine social media Atlanta Massachusetts 153

CFPB Monitor

OCTOBER 4, 2022

A previous version of these procedures referenced the Regulation Z definition of “private education loans” which differs from the Truth in Lending Act definition. In 2019, California enacted a law that prohibits postsecondary schools from withholding transcripts as a debt collection tool.).

Policies 146

Policies Compliance Payments Training 146

CFPB Monitor

MARCH 30, 2015

On March 26, the CFPB held a public hearing on payday and auto title lending, the same day that it released proposed regulations for short-term small-dollar loans. ” Cordray explained and defended the CFPB’s proposed new regulations. Kelly Cochran, Assistant Director for Regulations, CFPB.

Virginia 60

Virginia Lending Regulation America 60

PYMNTS

MAY 18, 2018

Co-founder and CEO Anish Achuthan told reporters that the funds will also be used to bolster Open’s existing platform, develop new products like lending and wealth management, and implement artificial intelligence and analytics into its offering. targets the cannabis industry with its market intelligence and consumer research offering.

Fintech 134

Fintech blockchain Analytics Capital 134

Gonzobanker

JANUARY 17, 2020

For execs who climbed the ladder in finance, lending or branches, buckle in because the techies are about to steal the show. Banks are most afraid of big tech, just when these players face regulation. However, between anti-trust regulations, algorithm investigations and states focused on privacy (e.g.,

Customer Experience 126

Customer Experience Fintech Regional Cards 126

Gonzobanker

FEBRUARY 23, 2022

To do this, banks can leverage their competencies in payments, lending, operations, and risk management while using the earnings generated from BaaS to transform their core business. Yet, it’s important to remember that most “miner 49ers” in the California gold rush left penniless. Panning versus mining for BaaS gold.

Community Bank 117

Community Bank Strategy Risk Management Fintech 117

Jeff For Banks

DECEMBER 16, 2022

I chose five years because banks that focus on year over year returns tend to cut strategic investments come budget time, which hurts their market position, earnings power, and future relevance than those that make those investments. and Puerto Rico banking laws and regulations. Its headquarters is the only location. Well done! #3

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

Independent Banker

DECEMBER 13, 2015

Competition and regulatory risk in car lending race off. Indirect auto lending has played a major role for Security Federal Savings Bank in Jasper, Ala. Today Security Federal Savings’ vehicle-lending portfolio has been reduced to $3 million. Current lending practices can’t produce profitable car loans, Thompson adds.

Community Bank 70

Community Bank Lending Community Security 70

Independent Banker

NOVEMBER 24, 2015

Competition and regulatory risk in car lending race off. Indirect auto lending has played a major role for Security Federal Savings Bank in Jasper, Ala. Today Security Federal Savings’ vehicle-lending portfolio has been reduced to $3 million. Current lending practices can’t produce profitable car loans, Thompson adds.

Community Bank 70

Community Bank Lending Community Security 70

Gonzobanker

DECEMBER 17, 2021

Union has been a stalwart of the California marketplace since the ’50s, and this gives Andy Cecere and team a great expansion into the Golden State and also some nice wholesale banking business. We salute a legend of lending and credit union leadership. However, we had to give the best acquisition award to U.S.

Fintech 142

Fintech Strategy Leadership Lending 142

PYMNTS

MARCH 17, 2017

Lending, Lending Everywhere, With Quite a Lot to Think. That includes lending, and, in one panel discussion, loans themselves came under the microscope. That includes lending, and, in one panel discussion, loans themselves came under the microscope. It’s a big problem. Pot Shots in Payments.

Innovation 103

Innovation Lending Boston Security 103

CFPB Monitor

NOVEMBER 21, 2018

In September 2018, the CFPB filed a lawsuit against the defendants in a California federal district court in which it alleged that defendants made loans disguised as asset purchases that violated state usury and licensing laws. As discussed below, the court’s order is a default judgment in favor of the Virginia AG.

Virginia 68

Virginia Company California Lending 68

PYMNTS

SEPTEMBER 5, 2019

Regulators recently announced plans to take a closer look at the early wage access industry, but as demand among the workforce for such FinTech solutions continues to rise, experts are encouraging lawmakers to get on board with a new normal of payroll. Regulators Step In. Defenders Weigh In.

Regulation 122

Regulation Lending New York Fintech 122

Independent Banker

MAY 24, 2016

million farms and the community banks that lend to them each growing season, Scanlan points out. Falling crop prices—exaggerated by weak currencies in many foreign markets—are expected to pressure U.S. The Federal Reserve Bank noted that increases in short-term lending “have occurred amid a significant decline in income.”

Community Bank 70

Community Bank Kansas City Community Iowa 70

Independent Banker

AUGUST 26, 2015

Legally and operationally, digital John Hancocks come of age in lending. Electronic signatures “absolutely” have helped PrivatePlus Mortgage expand its residential mortgage lending reach nationwide, says Lia Webster. Howard Schneider is a financial writer in California. By Howard Schneider. The process can begin much faster.”.

San Francisco 70

San Francisco Lending System Atlanta 70

PYMNTS

NOVEMBER 28, 2017

Some of the most notable recent changes to the automotive market include the rise of electric-only vehicles , advancements in autonomous vehicle technology , the growth of rideshare companies and built-in vehicle payment tools that enable motorists to use their wheels to pay for parking or gas. Kicking the pricing transparency tires.

Mobile 102

Mobile Millennials Los Angeles Trends 102

Tomorrow's Transactions

DECEMBER 5, 2016

A few years ago, I wrote that when it came to the regulation of payments, America could do worse than adopt something along European lines. From In payments, the US is an emerging market | Consult Hyperion. From Regulator will start issuing bank charters for fintech firms. This announcement is, I think, really important.

Fintech 30

Fintech Regulation Lending System 30

Gonzobanker

NOVEMBER 9, 2015

Continuing on the “Pay” theme, we know all about Apple Pay and the noise it caused in the market last year. The consensus is that the next phase of blockchain will be laying the foundation and identifying its two biggest hurdles: cost and regulation. That info plus marketing tools got her sales up quite a bit on said rainy days.

blockchain 60

blockchain Bitcoin Lending Innovation 60

NCR

MARCH 15, 2016

We also scrutinize revenue projections based on a variety of business and market factors such as consumer demand and the entrepreneur’s go-to-market strategy. In today’s world, banks base their lending on the most recent tax returns. How can a bank fund a business if its new treasurer had once been cited by regulators?

Taxes 40

Taxes CA Lending Strategy 40

CFPB Monitor

JUNE 1, 2015

In their joint complaint filed in a California federal court together with the proposed consent order, the CFPB and DOJ alleged that between 2006 and 2011, Provident originated loans by setting base or par rates for its various loan products. The consent order requires Provident to pay $9 million in monetary relief to aggrieved borrowers.

Policies 60

Policies Analysis National Regulation 60

Gonzobanker

DECEMBER 19, 2017

Heavy-handed regulators. Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. The Real “Lending” Stock Award – Goes to longtime player LendingTree.

Conference 90

Conference Industry Community Bank Community 90

Fintech Labs Insights

JUNE 18, 2015

Finovate alum, Azimo landed the biggest round outside the lending sector, $20 million at a $100 million valuation. P2P mortgage lending. HQ: San Francisco, California. HQ: San Francisco, California. HQ: Mountain View, California. Tags: Risk management, security, regulation, compliance. Year-to-date, $7.7

San Francisco 12

San Francisco Company Fintech Albuquerque 12

Fintech Labs Insights

SEPTEMBER 8, 2014

That would save the average California seller $24,000 in commissions. Allre is able to book these ancillary commissions because as a free service it does not come under RESPA regulations forbidding such arrangements. However, for now its exclusive mortgage provider in its first market is Prime Lending.

San Diego 26

San Diego California Video Lending 26