CFPB Monitor

MAY 6, 2021

A Maryland administrative action recently removed to the state’s federal district court illustrates how Maryland law continues to present challenges for the bank partner structure used by many lenders. The new Maryland matter demonstrates that participants in bank model programs continue to face state licensing threats.

Maryland 78

Maryland Lending Missouri FDIC 78

Jeff For Banks

JUNE 2, 2023

In the late 90s, low interest rates made speculative equity investments more attractive than bonds, and at the same time, innovative internet companies grew in popularity among retail investors, professional traders, venture capitalists, and the like (familiar?). Remember K Bank in Maryland? We took a serious reputational hit.

FDIC 78

FDIC Community Bank Regulation Lending 78

PYMNTS

JANUARY 30, 2018

Maryland Representative Elijah Cummings and California’s Representative Jimmy Gomez, in an open letter to BoA CEO Brian Moynihan, said that many low-income American families rely on the account. Customers can also keep a daily balance of $1,500 to avoid fees. Those who do not meet those criteria will pay a $12 monthly fee.

America 109

America Maryland FDIC Millennials 109