CFPB Monitor
FEBRUARY 16, 2022
Around the nation, regulators are preparing to implement and enforce new consumer-like disclosure laws for small business commercial finance providers. During the week of February 7, 2022, bills were introduced in Utah and Maryland that would require disclosures in commercial transactions.
Abrigo
JUNE 27, 2023
According to the National Association of Realtors, there were more than 106,000 real estate brokerage firms in the United States. The institutions are the ones shouldering the costs of compliance, examinations, and fines. Including rental and leasing licensees, as of 2021, the industry comprises approximately 16.7% In 2017, over 5.51
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Fintech Labs Insights
MAY 2, 2017
The recent news that due diligence innovator OutsideIQ agreed to be acquired by compliance specialist, Exiger, is a sign that the RegTech revolution in fintech is real. In March, the company partnered with SAP Ariba, and teamed up with Genpact to provide better KYC and compliance solutions for FIs.
CFPB Monitor
MARCH 15, 2022
The rules provide that a loan made by a national bank, federal savings association, or federally-insured state-chartered bank that is permissible under applicable federal law (Section 85 of the National Bank Act (NBA) or Section 27 of the Federal Deposit Insurance Act (FDIA)) is not affected by the sale, assignment, or other transfer of the loan.
CFPB Monitor
SEPTEMBER 10, 2020
The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. In particular, the DBO seeks to learn whether LoanMart’s arrangement with CCBank is a direct effort to evade the [FACA], an effort which the DBO contends would violate state law.”.
PYMNTS
SEPTEMBER 22, 2017
The slowdown in new businesses being founded in the 1980s and 90s was largely quarantined to certain segments – especially retail, where corner stores and regional brands were falling to larger national chains. Better have a very full and robust compliance department and a perfect working knowledge of AML/YC regulations.
PYMNTS
FEBRUARY 11, 2020
State driver’s licenses are the de facto national ID of the United States, and yet they can only be effectively used for a limited number of face-to-face applications,” said Randy Vanderhoof, the STA’s executive director. I think the federal government could have a way to set some of the standards,” Vanderhoof said. “We
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