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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. state bank regulators said it filed a complaint in the U.S. Reports in Reuters on Thursday (Oct.

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Visa-Western Union Deal And Alexa’s Roommate Potential Top The Week’s News

PYMNTS

Ironically, they are also the two things that shaped the modern payments landscape as we know it today, as it grew up and got wired over the last 60 years – and why that playbook is being disrupted by players decades their junior with market caps that rival or even dwarf their own. Attorney’s Office for the District of Columbia.

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State AGS file summary judgment motion in lawsuit challenging FDIC “Madden-fix” rule

CFPB Monitor

The Attorney Generals of the six states and District of Columbia who filed a lawsuit against the FDIC to set aside its “ Madden -fix” rule have filed a motion for summary judgment in the case. The lawsuit is pending before the same California federal district court judge (Judge Jeffrey S.

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242 Startup Failure Post-Mortems

CB Insights

Fresco’s head of community marketing, Johnathan Hamiter, began sending employees private Slack messages saying funding seemed “pretty bleak” and encouraging them to look for other jobs. Unfortunately, we were not able to find our place in the market. But we just didn’t feel as confident in that market.”. Around 4 p.m.,

Company 78
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Fans and Foes of OCC True Lender Rule Spar at Senate Committee “Rent-a-Bank” Hearing

CFPB Monitor

Since the non-bank entity frequently is a fintech, these arrangements often are referred to as bank-fintech partnerships or marketplace lending arrangements. These speakers consistently conflated payday lending and bank-fintech partnership lending, and ignored correction of this mis-characterization by other witnesses.