PYMNTS
MAY 19, 2016
Among the proposed methods, facial recognition has long been a pie-in-the-sky solution, but Illinois is the latest state to show that there’s a future in the tech. The Chicago Tribune is reporting that Illinois is set to add facial recognition services to its driver’s license application process. ”
CFPB Monitor
JUNE 14, 2021
In March 2021, Illinois Governor Pritzker signed into law SB 1792 , which contains the Predatory Loan Prevention Act (the “Act”). The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”.
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Gonzobanker
SEPTEMBER 21, 2023
NYMBUS secured Series D financing (led by Insight Partners), partnered with Hurdlr for small business banking; with Atty Bank, Saint Louis Bank ’s legal community bank; and with Roger, Citizens Bank of Edmond ’s military niche bank. Core10 secured a Series B funding round led by Patriot Financial Partners with JAM FINTOP and the ICBA.
PYMNTS
JANUARY 22, 2020
Governments at the state and local level are having trouble meeting this need, however, as they must also balance regulatory compliance standards against the desires of their in-state residents. The state of Illinois is still considering digital disbursements, though innovation remains slow.
PYMNTS
MARCH 25, 2019
A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). The CFPB had asked the court to wait until a separate case had been decided. This is still illegal federally.”
PYMNTS
NOVEMBER 23, 2020
In terms of mechanics, he explained, having a national bank charter in hand from the OCC means Figure will not have to obtain licenses to provide financial services on a state-by-state basis, but instead will be enabled to deliver its offerings on a nationwide basis while tailoring its compliance to the mandates of the OCC as sole regulator.
CB Insights
FEBRUARY 22, 2018
Digitized, secure, and tamper-proof blockchain ledgers are promising to disrupt the database as we know it. The bank also mentioned it is considering securing the custody of the coins. UBS, BARCLAYS, CREDIT SUISSE, AND OTHERS ARE PILOTING COMPLIANCE PLATFORM ON ETHEREUM. ILLINOIS GOVERNMENT PILOTING LEDGERS FOR LICENSING.
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