CFPB Monitor

JULY 14, 2022

The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint.

California 78

California Innovation Utah Texas 78

CFPB Monitor

SEPTEMBER 10, 2020

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

OCTOBER 19, 2020

Chris also raised the possibility that the Madden -fix rules adopted by the OCC and FDIC and the OCC’s proposed true lender rule could be reversed or eroded and that there could be less interest in moving forward with special purpose national bank charters for fintechs or payments companies.

Leadership 78

Leadership FDIC Exercises Lending 78

Gonzobanker

FEBRUARY 1, 2024

The FDIC Approved This Ad How many times did we hear a speaker admonish the audience to “be sure and sign up for the FDIC notification list.” Joint presentations between bankers and fintechs abounded, showcasing collaborative initiatives. Five Hundred? (Oh

Conference 88

Conference FDIC Arizona Industry 88

CFPB Monitor

JUNE 20, 2022

It found no support for the argument in the CFPA and noted that while the CFPA prohibits establishment of a national usury rate, the CFPB had not done so in CashCall because each state’s usury and licensing laws still applied. Nonbank/bank partnerships are currently under siege from several directions.

FDIC 78

FDIC California Texas Fintech 78

PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. Thus, said the agencies, banks should eye technology, and should endeavor to “consider, evaluate, and where appropriate, responsibly implement innovative approaches in this area.”

Compliance 148

Compliance Innovation FDIC Examples 148

FICO

DECEMBER 13, 2019

The guiding ethos of fintech (and really any industry portmanteau ending in ‘tech’) is move fast and break things. The most prominent villain for fintech companies is regulation. And when fintechs and challenger banks aren’t constrained by regulation (as they mostly are in the U.S. Generally this ethos is presented as a virtue.

Regulation 52

Regulation Fintech Lending Branding 52

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

Independent Banker

APRIL 30, 2022

Brazos National Bank. Douglas National Bank. FSNB, National Association. Pioneer Trust Bank, National Association. AMG National Trust Bank. HNB National Bank. Leader Bank, National Association. BNC National Bank. Stearns Bank National Association. By William Atkinson. Philadelphia.

Community Bank 172

Community Bank Community Montana Taxes 172

PYMNTS

JANUARY 25, 2018

In the financial services world, most buzzworthy payment innovations are frequently aimed at rendering older, physical financial concepts moot. But not all financial innovations are focused on making such concepts obsolete. trillion in cash in 2015, a higher rate than that of Western European nations.

ATM 100

ATM Millennials FDIC New Jersey 100

CFPB Monitor

OCTOBER 13, 2020

We recently published a blog about the OCC’s proposed rule “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”), which would clarify that a bank (or savings association) is properly regarded as the “true lender” when, as of the date of origination, it is named as the lender in a loan agreement or funds the loan.

Lending 60

Lending Colorado FDIC National 60

CFPB Monitor

SEPTEMBER 24, 2019

In Madden , the Second Circuit ruled that a purchaser of charged-off debts from a national bank was not entitled to the benefits of the preemption of state usury laws under Section 85 of the National Bank Act (NBA).

Colorado 60

Colorado National Policies Lending 60

Jeff For Banks

MARCH 3, 2018

That's what I thought about while reading a recent Financial Brand post about Innovation in Banking: Killer Ideas? More talk about fintech, dinosaur bankers, and flavors of the month. When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. or Idea Killers? Was I, gulp, a futurist?

Apple 66

Apple Millennials Massachusetts FDIC 66

Insights on Business

MARCH 5, 2019

Several companies have begun applying innovative technologies like artificial intelligence, machine learning and robotic process automation to AML activities and the initial results are very promising. The key is simple: financial institutions just need to improve the efficiency of their people and systems. Appropriate and responsibly”.

Regulation 70

Regulation Compliance Analysis Innovation 70

Fintech Labs Insights

JULY 19, 2016

Calling the technology a “one-of-a-kind front-end system,” VP of Marketing and Sales for Laser App Robert Powell said the partnership was a “great opportunity for us to learn from leading innovators.” Founded in 2013 and headquartered in New York, MaxMyInterest demonstrated its technology at FinovateFall 2014.

FDIC 12

FDIC New York System Software 12

William Mills

SEPTEMBER 9, 2016

An App Store for FinTech applications. Auto-financing is ripe for innovation. 10:50 am Moonraft Innovation Labs – [link] – @moonraft. Our platform is open source, which makes it more reliable, innovative and secure. Check back for new updates throughout the day. I’ve seen these folks before, it’s pretty slick.

social media 40

social media ATM Mobile Customer Experience 40