CFPB Monitor
FEBRUARY 26, 2020
The CFPB filed a complaint in a South Carolina federal district court against Upstate Law Group LLC. The CFPB filed a complaint in a South Carolina federal district court against Upstate Law Group LLC. The lawsuit is not the first enforcement action by the Bureau against brokers in this industry.
Jeff For Banks
APRIL 15, 2012
On a recent plane ride I sat next to the Commander of the NCO Academy at Fort Jackson, South Carolina (see picture from one of last year''s classes). One form of training I fondly recall from my Navy days was Navy Leadership Development school, or NAVLEAD. In his "real life", he is a sales manager for a pharmaceutical company.
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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. Oklahoma Department of Consumer Credit.
CFPB Monitor
OCTOBER 2, 2019
It also announced the creation of the American Financial Innovation Network (AFIN), a network of federal and state regulators to facilitate innovation, and issued its first NAL under the final revised policy. Both Alan and James praised the Bureau’s efforts under its new leadership, with Alan referring to them as “refreshing.”).
Jeff For Banks
SEPTEMBER 10, 2011
What is interesting about the success of Bank of the Ozarks and its CEO is the fact that he wasn''t the "experienced banker" regulators almost insist upon when approving the appointment of bank leadership. Bank of the Ozarks and their regulators were not so myopic in their view. How did they grow so quickly?
PYMNTS
JANUARY 22, 2019
Opponents counter that the regulations will simply push a majority of short-term lenders out of business, as they will be unable to either meet the increased underwriting costs or to change their business model entirely to accommodate a different type of underwriting. It is, however, news that comes as a great relief to industry groups.
FICO
NOVEMBER 7, 2022
US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? You never know when you’ll get a text from your leadership about testifying in front of the Senate! Neither the banks nor the regulators disagree about the scope of the problem.
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