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Credit Karma Now Offers A High-Yield Savings Account

PYMNTS

percent APY, which is about 22 times higher than the average of national accounts. Credit Karma is partnering with West Virginia-based MVB Bank on the venture. The bank will handle the funds and will offer FDIC protection up to $5 million. Although Credit Karma’s APY is high, it’s not the best on the market.

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California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank

CFPB Monitor

Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.

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

CFPB Monitor

A California federal district court judge recently rejected the California AG’s challenge (in which other states joined) to the FDIC’s rule and, in a separate lawsuit, also rejected a challenge by the California AG and other state AGs to the OCC’s Madden -fix rule codified at 12 C.F.R. Section 7.4001(e).

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Mezu: What It Would Take To Replace Cash

PYMNTS

That got Brisker thinking: Although there are many useful digital payments tools on the market, there’s nothing that really replaces cash in the way we know it. He believes the next generation must be more holistic, taking a view of the entire market and enabling users to give and use money in the myriad ways they wish to do so.

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Regulation and Compliance: Ready for Review

Independent Banker

As David Barr, spokesperson for the FDIC, points out, “a vast majority of community banks remain well-rated and exhibit satisfactory corporate governance programs and compliance management systems.”. Virginia B. Virginia B. national financial services partner for the accounting and consulting firm BKD LLP in Louisville, Ky.

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The Thinker

Independent Banker

Jack Hartings and Mindy Kremer, marketing director for Mercer Health Hospital in Coldwater, talk in a patient care unit. With few underwater credits on its books, the bank continued to lend as others left the market—though it still faced the challenge of distressed sales depressing market values. “It Membership-Marketing.

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