PYMNTS
AUGUST 8, 2019
The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. Many people living paycheck to paycheck already make more than median income.”.
American Banker
APRIL 22, 2024
Oklahoma lawmakers are having second thoughts about legislation blacklisting financial firms for their restrictions on lending to oil, gas and coal companies,
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American Banker
AUGUST 29, 2023
DOJ cites American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.
PYMNTS
SEPTEMBER 17, 2019
While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.
CFPB Monitor
AUGUST 7, 2019
In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” Illinois Department of Financial Professional Regulation. Maryland Office of the Commissioner for Financial Regulation.
Independent Banker
OCTOBER 1, 2022
When Oklahoma legalized the sales of cannabis for medicinal purposes in 2018, executives of $550 million-asset Blue Sky Bank in Tulsa, Okla., In the absence of explicit federal guidelines, banks and regulators follow the 2014 FinCEN guidance and the Cole Memo guidelines published under the Obama administration. By Judith Sears.
PYMNTS
JUNE 27, 2019
“Being in Boston, Massachusetts, I’m much less likely to invest in a restaurant in Oklahoma if the same business was right next to me,” Mathews said. “The aspect of localization creates almost a sense of meritocracy, allowing market validation to be moved much earlier in the process, and aligned with fundraising.”
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