CFPB Monitor

JANUARY 24, 2019

A group of 13 state attorneys general and the District of Columbia AG have sent a letter to the FDIC commenting on the agency’s request for information on small-dollar lending. They recommend that “the FDIC discourage banks from entering into these relationships in any guidance it issues on small-dollar lending.”.

FDIC 74

FDIC Lending District of Columbia Compliance 74

Independent Banker

OCTOBER 1, 2022

Our compliance program, based on elevated risk, is very robust. However, the ambiguous legal landscape complicates compliance; 47 states, the District of Columbia and four U.S. Our compliance program, based on elevated risk, is very robust,” she notes. “We Digital path to compliance. in Longview, Wash.

Marketing 113

Marketing Compliance Community Community Bank 113

CFPB Monitor

DECEMBER 17, 2018

Twenty-three Democratic members of the House Financial Services Committee have sent a letter to Kathy Kraninger, the CFPB’s new Director, urging the Bureau to resume examining its supervised entities for compliance with the Military Lending Act (MLA).

Puerto Rico 60

Puerto Rico Virgin Islands District of Columbia Lending 60

Abrigo

APRIL 6, 2022

In this guest column by Jeffrey Taft and Matthew Bisanz of Mayer Brown 's Financial Services Regulatory & Enforcement practice, learn more about how to be ready for compliance. The new requirements become effective on April 1, 2022, but compliance is not required until May 1, 2022. Lending & Credit Risk. How and When.

Security 195

Security Regulation District of Columbia United States 195

CFPB Monitor

OCTOBER 24, 2018

In addition to describing the benefits that the MLA provides to servicemembers, the AGs assert that the Bureau “would be failing to abide by its statutorily mandated duty to enforce the MLA by restrictively interpreting its examination authority to preclude lenders’ compliance with the MLA.” They cite to the MLA provision (10 U.S.C.

Puerto Rico 74

Puerto Rico Virgin Islands District of Columbia Exercises 74

CFPB Monitor

JANUARY 7, 2021

However, the AG plaintiffs in the new lawsuit instead view the Rule as “an unlawful attempt” by the OCC to “facilitate predatory lending” and support “rent-a bank schemes.”. If a bank fails to satisfy its compliance obligations, the OCC will not hesitate to use its enforcement authority consistent with its longstanding policy and practice.

District of Columbia 78

District of Columbia North Carolina New York Policies 78

CFPB Monitor

MAY 3, 2021

Since the non-bank entity frequently is a fintech, these arrangements often are referred to as bank-fintech partnerships or marketplace lending arrangements. These speakers consistently conflated payday lending and bank-fintech partnership lending, and ignored correction of this mis-characterization by other witnesses.

North Carolina 60

North Carolina Lending National District of Columbia 60