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FinTech Could Be Hurt By Fight Between OCC And States

PYMNTS

The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices. Among the states that have issue with it are New York, Florida, Ohio and California. In essence with the charter, the government could weed out the good FinTechs from the bad ones.

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Remote Seller Taxation: A Job For Tax Automation

PYMNTS

Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. The new jumble of state-level and municipal taxation has further obscured already confusing Internet sales tax compliance.

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Wells Fargo’s Q2 Disappoints After Scandals

PYMNTS

Second-quarter net income was impacted by a $481 million one-time expense resulting from a key Supreme Court decision related to online sales, South Dakota v. Wells Fargo also announced plans to sell 52 branches in Indiana, Ohio, Michigan and parts of Wisconsin to Flagstar Bancorp. Revenue fell to $21.6 The bank reported 28.9

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

Given such continuing threats, non-bank participants would be well-advised to revisit their vulnerability to “true lender” challenges and their compliance with state licensing laws. Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. The DFPI is not alone in asserting a “true lender” claim.

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Trying No-Go Mortgages

Independent Banker

in Coldwater, Ohio. For more information and resources, visit ICBA’s Mortgage Rules Resource Center online at www.icba.org. The CFPB must provide written guidance and clarifications to all its rules on a timely basis to enable compliance by all lenders. ICBA’s 2015 Policy Resolutions for Mortgage Lending Reform.

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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Self Financial handles the technology, including access to online accounts and an app, as well as marketing aspects of the program, and Lead Bank provides the compliance and access to the banking system. The Home Savings And Loan Company of Kenton, Ohio. It is available to consumers in all 50 states. PeopleFirst Bank.

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Fintech Fundings: 186 Companies Raised $1.6 Billion in June

Fintech Labs Insights

Online payroll system. HQ: Cincinnati, Ohio. Online accounting. Online banking services for migrants. Online payment gateway. Tags: SMB, entreprise, leasing, accounting, managment, compliance. Total dollars raised YTD is now $17.4 billion, more than double the $8.4 Latest round: $45 million. i3 Verticals.

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