CFPB Monitor

JANUARY 27, 2015

Mishkin Below is an update on the lawsuits we have been following that state attorneys general and a state regulator have brought using their Dodd-Frank enforcement authority. The Illinois AG filed two lawsuits using her Section 1042 authority. In April 2014, the defendant removed the case to an Illinois federal court.

Regulation 60

Regulation Illinois Mississippi Florida 60

PYMNTS

AUGUST 26, 2019

The Swiss Financial Market Supervisory Authority (FINMA) has granted the first “banking and securities licenses” to two blockchain companies: SEBA Crypto AG and Sygnum AG. The exchange is already live in California, Washington and Illinois. The firms will be the first registered in Switzerland as broker-dealers with a blockchain focus.

Rhode Island 109

Rhode Island blockchain Bitcoin Montana 109

PYMNTS

MARCH 2, 2020

The regulations, as reported by CNBC , mandate that mobile game makers who offer in-app purchases or charge for content through other means need to get licenses from the country’s censorship regulators — specifically the General Administration of Press and Publication of China. International Tax Policy.

Taxes 130

Taxes Illinois Regulation Mobile 130

PYMNTS

SEPTEMBER 25, 2018

is the company’s most searched destination when it comes to traveling outside of North America, thus the expansion into the market. could face regulation similar to that of traditional car rental companies. According to reports citing Turo Chief Executive Andre Haddad, the U.K. The average trip on the site earns an owner $170.

San Francisco 122

San Francisco Maryland Illinois Taxes 122

CFPB Monitor

FEBRUARY 7, 2017

On February 3, 2017, the President issued an Executive Order titled “Core Principles for Regulating the United States Financial System.” The Executive Order is a high-level policy statement consisting of a series of Core Principles that are designed to inform the manner in which the Administration regulates the financial system.

Regulation 60

Regulation System United States Policies 60

CFPB Monitor

AUGUST 25, 2020

The FDIC’s rule purports to regulate activities of non-banks which are beyond the FDIC’s jurisdiction. The central allegations in the new complaint generally track those made in the lawsuit against the OCC.

FDIC 78

FDIC District of Columbia North Carolina Illinois 78

PYMNTS

MAY 30, 2018

If you don’t give any regulation at all, it has the chance to go off the rails and completely burn itself out, which is where I was fearing bitcoin was going to a couple months ago if they haven’t already. We recognize that so often the case is with new technology, there is a needle you have to thread,” he added later. “If But the U.S.

Fintech 116

Fintech Arizona Illinois Bitcoin 116

PYMNTS

JULY 10, 2020

Regulation Vs. Market Forces. In recent years, we’ve seen the heavily regulated version of open banking in the E.U.,” For instance, he pointed to statewide initiatives in California and Illinois that have focused on biometrics. Cohen said. Webster noted that KYC and AML procedures aren’t governed by global standards.

Data 272

Data Innovation Fintech Illinois 272

PYMNTS

JUNE 4, 2019

The two app developers are Illinois Pure Sweat Basketball and California-based Donald R. In both paradigms a competitive market would yield better post-commission or wholesale prices, and fairer profit, for developers’ digital products.”. EU regulators are waiting to hear a response from Apple.

Apple 108

Apple Illinois California Policies 108

PYMNTS

FEBRUARY 26, 2019

technology markets, investigating any potential anti-competitive conduct in those markets, and taking enforcement actions when warranted.”. European politicians and regulators are also putting more pressure on digital marketplaces — a push that involves Amazon as well. Federal Trade Commission (FTC).

North Carolina 116

North Carolina Google New Jersey Connecticut 116

PYMNTS

SEPTEMBER 17, 2019

Interest rates on pawn loans vary as they are regulated by states. Regulations require that pawnbrokers request proof of ownership before making a deal with a potential customer — but the less reputable players in the industry have a nasty habit of forgetting to ask. So what is driving the Pawnaissance?

Ohio 151

Ohio Lending Iowa South Dakota 151

PYMNTS

NOVEMBER 23, 2020

Figure Pay, he said, with the ability to scan QR codes at checkout, is predicated on the concept of using a blockchain payment rail in lieu of interchange as the network is built out — and across a swath of merchants as large as Walmart and small as localized farmers’ markets (in a type of “barbell” approach) upon initial launch early next year.

National 215

National blockchain Montana Lending 215

CFPB Monitor

AUGUST 7, 2019

The DFS states that the investigation will focus on “whether companies are in violation of state banking laws, including usury limits, licensing laws and other applicable laws regulating payday lending and consumer protection laws.” Illinois Department of Financial Professional Regulation.

Industry 92

Industry Puerto Rico South Dakota North Dakota 92

PYMNTS

MARCH 21, 2017

Despite the fact that various members of the panel are short-term lenders — Advance America as the largest storefront lender and Enova as the largest online lender — no one made a case that abuses have not occurred within the industry, or that their sincere hope is to live in a regulation-free environment. So how did that war gaming look?

Lending 100

Lending Regulation Illinois Innovation 100

CFPB Monitor

FEBRUARY 19, 2021

The Attorneys General of California, Illinois, and New York have filed their opposition to the OCC’s cross-motion for summary judgment in their lawsuit to enjoin the OCC’s final rule (Rule) purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

FDIC 78

FDIC National Illinois Exercises 78

PYMNTS

MARCH 7, 2018

According to news from The Wall Street Journal , citing a letter Senator Dick Durbin, a Democrat from Illinois, sent to the bank this week, Durbin is asking the financial institution (FI) to stop adding more colleges to its partnership program until the order by the Federal Reserve last month that caps Wells Fargo’s growth is addressed.

Illinois 143

Illinois Compliance Lending Cards 143

CFPB Monitor

SEPTEMBER 30, 2021

To ensure that the FTC’s efforts are directed at the most significant harms across markets, including those involving marginalized communities, the agency should focus on “power asymmetries” and the unlawful practices that such imbalances enable. Before joining the FTC, Mr. Levine worked for the Illinois Attorney General. .

Illinois 78

Illinois Policies Tools Regional 78

CFPB Monitor

AUGUST 5, 2021

The new Maine anti-evasion provision regarding when a purported agent or service provider will be deemed a lender subject to Article 2 closely tracks the anti-evasion provision in the Illinois Predatory Loan Prevention Act which became effective in March 2021. .

Maine 78

Maine Illinois Operations Payments 78

PYMNTS

JUNE 15, 2018

after his comments, made at the Yahoo All Markets Summit: Crypto conference in San Francisco. While SEC leaders have publicly labeled bitcoin as a commodity, this is the first clear statement by the financial watchdog on how they plan to regulate ether,” CNBC reported. The price of ether hit $520.88

Bitcoin 100

Bitcoin cryptocurrency San Francisco New York 100

PYMNTS

NOVEMBER 13, 2018

Among the names joining up are Citizens & Northern Bank (based in Pennsylvania), Inland Bank (Illinois) and Lincoln Savings Bank (Iowa). As has been reported, in the sandbox model, FinTech firms have two years to bring services to new markets and test them out, in a limited way and with an eye on wide adoption.

Community Bank 183

Community Bank Community Fintech Arizona 183

CB Insights

FEBRUARY 22, 2018

The World Food Programme used the blockchain to distribute ethereum-based food vouchers that could be redeemed at markets. ILLINOIS GOVERNMENT PILOTING LEDGERS FOR LICENSING. The project aims to digitize medical credential data and smart contracts to automate workflow related to multistate and interstate licensure in Illinois.

blockchain 78

blockchain Illinois cryptocurrency Industry 78

CFPB Monitor

OCTOBER 25, 2022

As a participant in the indirect auto finance market, Rhinebeck provides auto financing through auto dealers and has no direct interaction with consumers during the financing application process. to 2% range should be on notice that regulators may view that discretion as too permissive and an open door to potential discrimination.

New York 78

New York Lending Community Bank Community 78

CFPB Monitor

FEBRUARY 23, 2022

The new anti-evasion provision regarding when a purported agent or service provider will be subject to the SLA closely tracks the anti-evasion provisions in the Illinois Predatory Loan Prevention Act which became effective in March 2021 and amendments made to Maine’s Consumer Credit Code that became effective in June 2021. .

New Mexico 78

New Mexico Illinois Operations Marketing 78

PYMNTS

OCTOBER 6, 2017

Reactions to the regulations have run the gamut, as one might have expected after what was an extremely contentious five-year effort to bring federal regulation to an industry that had previously only been state-regulated. By the CFPB’s own estimates, the regulations as written will cut the number of short-term loans in the U.S.

Lending 128

Lending Regulation Community Bank Industry 128

CFPB Monitor

DECEMBER 18, 2020

The Attorneys General of California, Illinois, and New York have filed a motion for summary judgment in their lawsuit filed against the Office of the Comptroller of the Currency (OCC) to enjoin the OCC’s final rule purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

FDIC 78

FDIC District of Columbia North Carolina New Jersey 78

PYMNTS

OCTOBER 6, 2017

Reactions to the regulations have run the gamut, as one might have expected after what was an extremely contentious five-year effort to bring federal regulation to an industry that had previously only been state regulated. By the CFPB’s own estimates, the regulations as written will cut the number of short-term loans in the U.S.

Lending 100

Lending Regulation Community Bank Industry 100

PYMNTS

JANUARY 16, 2021

Some of the highlights of the rollout were spec-only options, not likely to be available for mass-market purchase for many years to come; others are ready now and clamoring for consumer spend and attention. Because pandemic or not, lockdown or none — the future will keep right on coming.

Las Vegas 204

Las Vegas Illinois Maine Technology 204

PYMNTS

DECEMBER 1, 2017

The New York AG isn’t the only regulator that’s taken an interest in this story. Uber is also under investigation by the attorneys general of New York, Missouri, Massachusetts, Connecticut and Illinois. Privacy regulators for the European Union said Wednesday (Nov. authorities seeking an explanation.

New York 144

New York Data Regulation Washington 144

PYMNTS

NOVEMBER 29, 2016

That is because after almost two years of speculation on the subject, as of early January it was clear that Consumer Financial Protection Bureau (CFPB) was finally going to release proposed new regulations for the entire short-term lending industry. Spoiler: The situation is more complicated than you’ve heard. The scale isn’t there.”.

Lending 100

Lending Regulation Groups Innovation 100

PYMNTS

FEBRUARY 22, 2019

For example, the Illinois Supreme Court ruled earlier this year that companies can be sued for biometric data collected without users’ consent. In those verticals, there is a continued and growing need to combat crime and terrorism and satisfy an environment zeroed in on anti-money laundering (AML) and Know Your Customer (KYC) regulations. “As

Data 130

Data Illinois Taxes Customer Experience 130

PYMNTS

AUGUST 24, 2018

Pat McHugh, senior vice president of North American lottery systems at Scientific Games, said at the time that the gift cards will add a degree of flexibility to an already popular market. Lotto and Payment Cards. Nor do these mobile-enabled lottery cards represent Ohio’s first attempt to keep its edge when it comes to state lotteries.

Ohio 103

Ohio Mobile Cards South Carolina 103

CB Insights

APRIL 3, 2018

This represents almost 20% of the global online ad market, and is expected to grow in coming years. Some government bodies and regulators are starting to respond. The EU’s GDPR (General Data Protection Regulation) aims to protect citizens against misuse of personal data with heavy fines for bad actors.

blockchain 73

blockchain Technology Illinois Data 73

PYMNTS

APRIL 26, 2016

Which brings us to payday lending and its proposed regulation – a subject that has turned out to be the Berserk Button for a shocking number of consumer right advocates, congressmen, regulators, Senators, preachers, industry representatives business people and consumers. So why all the fuss? The scale isn’t there.”.

Lending 100

Lending Regulation Industry Illinois 100

Independent Banker

SEPTEMBER 30, 2021

Claire Hill, marketing director of $208 million-asset Heritage Bank & Trust in Columbia, Tenn., Another reason pen tests are increasingly common is that regulations and PCI compliance require banks to furnish annual pen test results. Ed Avis is a writer in Illinois. Claire Hill, Heritage Bank & Trust. Elizabeth Judd.

Community 139

Community Community Bank social media Security 139

Independent Banker

NOVEMBER 30, 2022

size businesses and individuals throughout Illinois, Wisconsin, Indiana and Florida. A strong culture of learning is led by Karen Richards, vice president of marketing, who also oversees the creation of career paths for its associates. Describing itself as a “boutique banking company,” GRNB now serves small to mid?size

Community Bank 169

Community Bank Community Montana Leadership 169

Independent Banker

SEPTEMBER 21, 2015

It teaches bankers how to develop a compliance program, meet lending compliance requirements, and comply with deposit and marketing regulations. Many have been bankers themselves, and sometimes regulators or attorneys. Ed Avis is a freelance writer in Illinois. They have definitely helped my career.”.

Compliance 70

Compliance Community Bank Community Training 70

Fintech Labs Insights

FEBRUARY 9, 2017

Calling FactSet’s platform an “ideal match” for advanced NLG technology, Narrative Science COO Nick Beil said the integration would “reduce time-to-market, streamline client reporting, and raise the bar for prompt and comprehensive service.”

Analytics 12

Analytics Illinois Chicago Analysis 12