CFPB Monitor

FEBRUARY 26, 2020

The CFPB filed a complaint in a South Carolina federal district court against Upstate Law Group LLC. The CFPB filed a complaint in a South Carolina federal district court against Upstate Law Group LLC. The lawsuit is not the first enforcement action by the Bureau against brokers in this industry.

South Carolina 78

South Carolina Arkansas New York Leadership 78

CFPB Monitor

AUGUST 7, 2019

The DFS states that the investigation will focus on “whether companies are in violation of state banking laws, including usury limits, licensing laws and other applicable laws regulating payday lending and consumer protection laws.” Illinois Department of Financial Professional Regulation. Oklahoma Department of Consumer Credit.

Industry 92

Industry Puerto Rico South Dakota North Dakota 92

PYMNTS

JANUARY 22, 2019

Opponents counter that the regulations will simply push a majority of short-term lenders out of business, as they will be unable to either meet the increased underwriting costs or to change their business model entirely to accommodate a different type of underwriting. It is, however, news that comes as a great relief to industry groups.

Lending 153

Lending South Carolina Regulation Groups 153

FICO

NOVEMBER 7, 2022

US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? You never know when you’ll get a text from your leadership about testifying in front of the Senate! Neither the banks nor the regulators disagree about the scope of the problem.

Fraud 52

Fraud US Payments South Carolina 52