CFPB Monitor

MAY 6, 2019

In doing so, the court found that the term “business of banking” as used in the National Bank Act (NBA) “unambiguously requires receiving deposits as an aspect of the business.”. National Resources Defense Council, Inc. The court’s textual analysis started with a review of the powers of national banks under the NBA.

Fintech 68

Fintech New York National Regulation 68

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

PYMNTS

FEBRUARY 19, 2019

banking industry is in flux, largely thanks to federal policy that has made it easier (and faster) for institutions to merge. Earlier this month, separate reports revealed that MOXY Bank has been approved by the Federal Deposit Insurance Corporation (FDIC) to launch in Washington, D.C.,

Marketing 108

Marketing Community Community Bank Industry 108

Jeff For Banks

JUNE 20, 2017

The banking system is stable, which is critical to national and state economies. So what am I talking about, that deposit insurance is why banks don't do like FinTech lending firms and use alternatives to the FICO score in underwriting consumer credits? And because deposit insurance is a national program, so should they.

Data 60

Data FDIC Regulation Washington 60

PYMNTS

DECEMBER 14, 2018

Among those agencies, alphabetically speaking: the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the National Credit Union Administration.

Compliance 148

Compliance Innovation FDIC Examples 148

CFPB Monitor

NOVEMBER 22, 2022

The report attributes the risk that such schemes will arise to bank/fintech relationships that “lack proper regulatory oversight or principles for responsible lending.”

Fintech 78

Fintech Report Data Lending 78

CFPB Monitor

JUNE 18, 2020

In remarks made during a recent online event held by the Online Lending Policy Institute, Acting Comptroller of the Currency Brian Brooks indicated that the OCC will soon be issuing a “true lender” proposed rule to supplement its recently-released final rule intended to remove the legal uncertainty created by the Second Circuit’s Madden decision.

FDIC 78

FDIC Fintech Policies Online 78

CB Insights

DECEMBER 4, 2019

In parallel, Amazon has made several fintech investments, mostly focused on international markets (India and Mexico, among others) where partners can help serve Amazon’s core strategic goal. This report is a collection of everything we know about Amazon’s foray into banking, financial services, and fintech. adults and 6.4M

Cards 101

Cards Lending Strategy US 101

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

CFPB Monitor

DECEMBER 8, 2022

Because this allows a commercial or fintech company to own or acquire an ILC, the absence of consolidated supervision of ILC parent companies by the Federal Reserve Board is characterized by ILC critics as a dangerous “loophole” in safety and soundness oversight of ILC parent companies. . 5301) (e.g.

FDIC 78

FDIC Company Industry Regulation 78

CFPB Monitor

OCTOBER 19, 2020

For our webinar last week, “What a Blue Wave in the November 2020 Elections Could Mean for the Consumer Financial Services Industry,” we were joined by special guest Isaac Boltansky, Director of Policy Research at Compass Point Research & Trading.

Leadership 78

Leadership FDIC Exercises Lending 78