What Yesterday’s Ruling Means for CUs

New York's State of Mind

Yesterday’s decision by the Court of Appeals for the District of Columbia represents the most important legal victory ever achieved by credit unions. Legal Watch Regulatory Field of MembershipIf it is upheld on appeal, not only does it give federal credit unions the flexibility they need to continue to grow, it creates an analytical framework, which, if adopted by other […].

What Yesterday’s Ruing Means for the CU Industry

New York's State of Mind

Yesterday’s decision by the Court of Appeals for the District of Columbia represents the most important legal victory ever achieved by credit unions. Legal Watch Regulatory Core Based Statistical Areas Field of MembershipIf it is upheld on appeal, not only does it give federal credit unions the flexibility they need to continue to grow, it creates an analytical framework, which, if adopted by other […].

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Sprint Benefits From Less Expensive Subscriptions

PYMNTS

As it enjoyed the upside of less expensive subscriptions before a merger with bigger U.S. reported a less-than-expected loss of monthly bill subscribers in Q3. billion and came out short of the forecasts of analysts of $8.22

The CFPB Is Constitutional…For Now

New York's State of Mind

Yesterday the Court of Appeals for the District of Columbia put the dreams of constitutional extremists like myself on hold when it ruled that the single director structure of the CFPB was constitutional. Oh well, it’s on to the Supreme Court hopefully. The decision means that the Director can still only be removed for cause […]. Legal Watch CFPB PHH Yellen

VSP Global Acquires Visionworks

PYMNTS

The deal, the details of which were not disclosed, is the single largest investment in VSP’s history. The deal means that Pete Bridgman, president of Visionworks, will now report to Guyette. VSP Global announced that it has acquired San Antonio, Texas-based Visionworks.

Morning Scan: CFPB Body Blow; Wells Looks to Reboot

American Banker

CFPB loses appeal: A federal appeals court ruled Tuesday that the CFPB's structure, in which an unusual amount of power and autonomy is invested in a single director, is unconstitutional and ordered its powers be curbed. "If Court of Appeals for the District of Columbia would reduce the agency's independence, empowering the White House to supervise the agency and remove its director, in contrast to… morning-scan national-regionalReceiving Wide Coverage.

No Precedent For Facebook Antitrust Investigation, Says FL AG

PYMNTS

Florida recently announced it is participating in the probe, which also involves six other states as well as the District of Columbia, noted New York State Attorney General Letitia James. “It’s It’s an entirely different way of dealing with a monopoly,” Moody said. “We

Morning Scan: MetLife's 'SIFI' Case; Wells Takes Case to TV

American Banker

Court of Appeals for the District of Columbia heard arguments from the federal government on Monday that MetLife is a "systemically important financial institution" and requires stricter regulation. district court judge earlier this year. Receiving Wide Coverage. Court hears SIFI appeal: The U.S.

DOJ, State AGs Could Combine Google Investigations

PYMNTS

Department of Justice (DOJ) officials will meet with U.S. The probe is centered on whether Google’s monopoly of the online search world – and the ensuing advertising revenue it commands – represent an illegal form of market control.

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Zuckerberg To Visit DC To Discuss Internet Regulations

PYMNTS

Maria Cantwell of Washington confirmed she met with Zuckerberg on Wednesday evening, according to CNBC. We continue to engage in bipartisan conversations about the unchecked power of large tech companies,” New York Attorney General Letitia James said earlier this month.

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Zuckerberg Visits DC To Talk Tech Laws With Senators  

PYMNTS

during a rare visit to Capitol Hill that comes on the heels of rising scrutiny over the company’s business practices, CNBC reported on Thursday (Sept. Warner, the vice chairman of the Senate Intelligence Committee, has been vocal in his support of regulating Big Tech.

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Google To Be Targeted By State AGs In Antitrust Probe 

PYMNTS

Google could be compelled to change the way it categorizes search results, and it might have to pay fines of billions of dollars like it already has in Europe. Regulators could even force the company to let go of profitable businesses like YouTube. “I

Washington, D.C. Releases Annual Report Forms and Filing Deadlines

CFPB Monitor

Department of Insurance, Securities, and Banking (DISB) published a Bulletin in late April reminding those who service student education loans in the District of Columbia of their obligation to file an annual report. District of Columbia, et al.

Consumer Watchdog Warns Against Elder Financial Abuse

PYMNTS

The Consumer Financial Protection Bureau (CFPB) is urging financial institutions to report any suspicions they may have about financial exploitation of elderly people, the organization said in a release. .

State AGs To Fight T-Mobile-Sprint Merger In Federal Trial

PYMNTS

A group of state attorneys general are getting set to fight against the T-Mobile and Sprint merger in an unprecedented federal trial. If we have another four years of the Trump administration, we may see more of this,” he added.

U.S. Gov’t Fights States’ Bid To Block Sprint, T-Mobile Merger Saying Move Would Slow 5G

PYMNTS

A group of state attorneys are banding together to fight a merger of T-Mobile and Sprint that is backed by the United States Justice Department, according to a report from Reuters. Thirteen states and the District of Columbia have banded together to try and strike down the merger. In a filing, the agencies cited T-Mobile’s promise to provide 5G to 85 percent of the rural population in three years and 90 percent within six years.

Morning Scan: Barclays Settles Libor Suit; Lending Club Woes

American Banker

Barclays settles again: Barclays Bank agreed to pay $100 million to settle charges by 43 states and the District of Columbia that it tried to manipulate the London interbank offered rate thereby defrauding government entities and nonprofits out of millions of dollars. Receiving Wide Coverage.

Half Of US State AGs Back Google Antitrust Probe

PYMNTS

Google could be compelled to change the way it categorizes search results, and it might have to pay fines of billions of dollars like it already has in Europe. Regulators could even force the company to let go of profitable businesses like YouTube. “I

Facebook Employees Knew About Data Scraping

PYMNTS

In a District of Columbia court filing involving Cambridge Analytica, new details have come to light surrounding how much Facebook might have known about data-scraping efforts involving the firm — and when.

Congress Supports Facial Recognition Regulation

PYMNTS

Members of Congress supported a plan to draft legislation aimed at the use of facial recognition software by law enforcement on Wednesday (May 22), according to reports. The time is now before it gets out of control.”. But there’s a lot of agreement here.

More States Join AG Facebook Investigation Led By NY 

PYMNTS

The Facebook probe announced by attorneys general in September now has 40 states signed on to investigate allegations of the social media giant’s anti-competitive practices, The Washington Post reported on Monday (Oct. The probe of Facebook, announced in September, is led by New York and includes Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee and the District of Columbia.

Facebook Hit With Three State Probes Over Privacy Violations

PYMNTS

Facebook is now being investigated by at least three additional states regarding the alleged mishandling of user data. North Carolina is also part of the probe.

Attorneys General From 47 States To Probe Facebook

PYMNTS

James said in a statement , “After continued bipartisan conversations with attorneys general from around the country, today I am announcing that we have vastly expanded the list of states, districts and territories investigating Facebook for potential antitrust violations.

PayPal Sues CFPB Over ‘Misleading’ Digital Wallet Disclosure Rules

PYMNTS

In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.

Illinois Passes Marijuana Legalization Bill

PYMNTS

The governor of Illinois signed a marijuana legalization bill on Tuesday (June 25), making it the 11th state to legalize pot. In addition, Illinois has become the first state to legalize the selling of the drug.

DOJ Discloses Terms Of Agreement In Sprint, T-Mobile Merger

PYMNTS

The Department of Justice (DOJ) said on Friday (July 26) that it has come to an agreement on the merger between Sprint and T-Mobile , which is worth $26 billion, according to a report by CNBC. This will allow the company to become a viable competitor, which is an important part of the deal.

NY To Lead 47 AGs In Nationwide Facebook Antitrust Probe

PYMNTS

James said in a statement , “After continued bipartisan conversations with attorneys general from around the country, today I am announcing that we have vastly expanded the list of states, districts and territories investigating Facebook for potential antitrust violations.

Bitcoin’s Murky Trail Across Dark Web Gets Some Light

PYMNTS

Proponents of cryptos tout anonymity, the fact that digital coin transactions are hard to trace, and that blockchain allows for transactions to occur pretty much instantaneously between parties. In terms of scope, the site reportedly had 10,000 CDs’ worth of images and videos.

Quadriga’s Quagmire Now Looks To The Great Beyond

PYMNTS

Perhaps call it “habeas corpus” of a different sort. And in a court of law, it means bringing the accused, in person, before a court or judge prior to imprisonment. Time is of the essence, said the attorneys, due to decomposition.

Facebook Shares Fall 7.3 Pct Post-DC Lawsuit

PYMNTS

With the news of a lawsuit against Facebook (FB) by prosecutors in the District of Columbia, the social media company’s shares slid significantly on Wednesday (Dec. The steep decline has continued a sell-off of shares that have eradicated almost 40 percent of value.

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Washington D.C. publishes final student loan servicing regulations

CFPB Monitor

The District of Columbia Department of Insurance, Securities, and Banking (DISB) published its final rules under the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016. The final rules became effective when published in the D.C. Register on August 10, 2018. The rules are unchanged from the latest revisions.

State Bank Regs File Suit To Block OCC’s Bank Charter

PYMNTS

More legal troubles have emerged for the Office of the Comptroller of the Currency (OCC) over its plan to introduce national bank charters for FinTechs, aimed at making it easier for alternative financial services players to do business. 25) said the OCC was named as the defendant in a lawsuit filed by the Conference of State Bank Supervisors (CSBS). The body of U.S.

Uber Agrees To Pay $145M Fine To Settle Data Breach Lawsuit

PYMNTS

California Attorney General Xavier Becerra and San Francisco District Attorney George Gascón announced on Wednesday (Sept. In a press release , the two AGs said the settlement also covers charges that Uber violated reasonable data security laws with its 2016 breach of driver and customer information. Uber is accused of exposing the data of 57 million users and paying hackers to hide the breach instead of reporting it to law enforcement and regulators.

Legal Cannabis Cuts Into Beer Revenue

PYMNTS

The retail beer industry is already feeling the effects of cannabis legalization. states have legalized the use of recreational marijuana, the retail beer industry has seen additional lost sales, according to new research conducted by Cannabiz Consumer Group (C2G). Some 27 percent of beer drinkers surveyed by C2G stated that they already have substituted cannabis for beer or would substitute their retail beer purchases with cannabis in the future, if cannabis was legal.

Site Visits Fuel Anticipation For Amazon’s HQ2

PYMNTS

According to a person with a understanding of the visits, the eCommerce retailer visited Chicago, New York City and Chicago, The Wall Street Journal reported. That could enable the retailer to keep its choice unknown ahead of an announced decision. In terms of geographies, unnamed sources say that Amazon might want an urban site. Adding to the anticipation for a decision on its $5 billion HQ2 project, Amazon has reportedly made visits to multiple finalists.

Lawyers Demand Proof That QuadrigaCX Founder Is Really Dead

PYMNTS

Perhaps call it “habeas corpus” of a different sort. And in a court of law, it means bringing the accused, in person, before a court or judge prior to imprisonment. Time is of the essence, said the attorneys, due to decomposition.

The Digital Evolution Of The Online Gaming Ecosystem

PYMNTS

The legalization of sports gambling requires an important policy choice, but the choice is not ours to make,” Justice Samuel Alito wrote in the 6-3 opinion. RotoGrinders is a website that provides the DFS community with various bits of data, including game-specific weather forecasts.

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