CFPB Monitor

FEBRUARY 3, 2022

Court of Appeals for the Third Circuit recently ruled that the application of Pennsylvania usury laws to vehicle-secured loans made to Pennsylvania residents who travel outside of Pennsylvania to obtain such loans does not violate the Commerce Clause of the U.S. Constitution. In TitleMax of Delaware, Inc.

Pennsylvania 147

Pennsylvania Analysis Security Indiana 147

Perficient

FEBRUARY 26, 2021

of New York State’s Superintendent’s Regulations which provides for an annual fee adjustment, based upon the increase in the consumer price index (CPI) of the New York – Northern New Jersey – Long Island, NY – NJ-CT-PA area for all urban consumers. According to New Jersey Check Cashing Regulation 3:24-4.1, 90, whichever is greater.

New York 309

New York New Jersey NJ Connecticut 309

PYMNTS

JULY 24, 2018

New York’s years-long payroll card regulation saga took an unexpected turn recently when the New York State Supreme Court annulled a previous appellate court ruling, reviving efforts to introduce stricter payroll card rules. ” Depending on the outcome of the appeal, reports said, the payroll card regulations may come into effect.

Regulation 101

Regulation Cards New York Alabama 101

Jeff For Banks

OCTOBER 3, 2015

Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week. His subject: How to love your regulator. Regulator relations is a pressure point in our industry. Never ask your regulator “What would you like me to do?

Pennsylvania 60

Pennsylvania Regulation How To Management 60

PYMNTS

JANUARY 13, 2020

There are other state versions of the agency, such as in Pennsylvania and New York, where efforts are focused on fighting consumer fraud and ensuring that firms comply with state laws. The agency would be renamed the Department of Financial Protection and Innovation. Penalties in the New Year.

Data 131

Data social media Regulation California 131

PYMNTS

OCTOBER 19, 2016

According to Brad Fauss, president and CEO of the Network Branded Prepaid Card Association, the recently released regulations on prepaid cards from the Consumer Finance Protection Board could be another instance of good intentions gone wrong. The updated regulations are slated to take effect Oct.

Regulation 100

Regulation Cards Digital Banking social media 100

PYMNTS

JULY 5, 2019

Amazon in some ways was the victim of a race run so well that regulators are taking a second look, competitors are loudly complaining and even the courts are taking a tougher line on its business practices. And Amazon’s competitors in retail are working hard to make sure that the regulators take a close enough look.

Regulation 108

Regulation Pennsylvania Retail Report 108

American Banker

OCTOBER 30, 2020

The CrossState Credit Union Association continues to work with lawmakers in neighboring New Jersey to get similar legislation passed there.

Pennsylvania 76

Pennsylvania New Jersey Compliance Regulation 76

PYMNTS

APRIL 29, 2020

The National Restaurant Association (NRA) said regulations for the federal Paycheck Protection Program’s ( PPP ) forgivable loans don’t meet the needs of eateries, given that many remain closed and the money must be spent within eight weeks. An industry trade group said it’s highly likely that many restaurants will return loans from the U.S.

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Meeting Pennsylvania US New York 150

CFPB Monitor

OCTOBER 17, 2022

In a recent press release , the Pennsylvania Attorney General announced that settlements have been reached with Delaware and Florida lenders who made allegedly usurious loans to Pennsylvania residents. 3) grants Congress the power “[t]o regulate Commerce. The Commerce Clause (U.S. I, § 8, cl.

Indiana 78

Indiana Minnesota Pennsylvania South Dakota 78

American Banker

APRIL 12, 2020

In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.

Regulation 93

Regulation Pennsylvania Massachusetts California 93

PYMNTS

JULY 27, 2020

Also on Monday, a high-ranking German regulator has called for major changes in response to the Wirecard scandal. The Pennsylvania-based firm, which calls itself a self-sustaining entity, substantially autonomous from Wirecard AG with more than 20 years in the payments industry, has hired an investment bank to manage the sale.

Company 165

Company Pennsylvania Payments America 165

American Banker

JULY 27, 2020

The student loan company had said a three-year-old lawsuit alleging consumer abuses was superseded by a similar CFPB suit. Here’s why the 3rd U.S. Circuit Court of Appeals disagreed.

Pennsylvania 75

Pennsylvania Company Regulation 75

PYMNTS

MAY 8, 2020

This year was expected to be lucrative for online sports betting as it is the first since those regulations were created. Pennsylvania reported similar figures, with tax revenues from brick-and-mortar gambling declining to $50.5 New Jersey and Pennsylvania have become two of the most important markets for U.S.

Online 176

Online Industry New Jersey Pennsylvania 176

PYMNTS

APRIL 22, 2016

New that includes earnings results from Visa and Alphabet, Uber’s regulation woes, the latest data of Starbucks’ mobile ordering and just how much is cost Apple to unlock that iPhone. Uber’s Pennsylvania Problem. Alphabet’s Mixed Numbers. 4.2B | Alphabet reported a Q2 net income of $4.21

Pennsylvania 100

Pennsylvania Data Regulation Apple 100

Payments Source

OCTOBER 29, 2018

It is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs.

Regulation 77

Regulation Payments Pennsylvania Compliance 77

PYMNTS

OCTOBER 5, 2020

Regulation. Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. House Antitrust Committee Witnesses Offer Big Tech Regulation Viewpoints. antitrust regulation. University of Pennsylvania Carey Law School Professor Christopher Yoo had a differing opinion. billion (approximately $15.4

Data 229

Data Google Compliance Apple 229

PYMNTS

JANUARY 24, 2019

Through the program, graduate students are said to focus on the study of blockchain development and regulations. ” On another note, the Department of Banking and Securities (DoBS) in Pennsylvania released new guidance geared toward the local digital currency space, CoinDesk reported.

blockchain 129

blockchain Bitcoin Pennsylvania Guidelines 129

PYMNTS

JULY 19, 2020

Vanguard, based in Pennsylvania, has over 30 million clients globally and plans to work with Ant Financial’s 900 million users in China to offer low-cost financial advice. The asset management industry in China is still in fledgling stages, but regulators in Beijing are looking to change that now.

Pennsylvania 160

Pennsylvania Management Industry Regulation 160

PYMNTS

AUGUST 12, 2019

She graduated from Spelman College and earned her MBA from The Wharton School at the University of Pennsylvania. Taylor also previously worked at Capital One, Chase Manhattan Bank and JPMorgan. Her first day will be Aug. 26, and she will be based in New York City. Last month, Wells Fargo also added four new executives to its roster.

New York City 179

New York City Pennsylvania New York Community Bank 179

PYMNTS

OCTOBER 27, 2016

An appeals court has upheld a lower court’s ruling that found the owners of 16 McDonald’s restaurant locations in Pennsylvania in violation of state law through their use of payroll cards for employee compensation. Reports this week said an appeal of that ruling fell flat on Friday (Oct.

Cards 100

Cards Pennsylvania Connecticut New York 100

PYMNTS

MAY 7, 2020

Kindred Group, which also supports gambling platforms in Europe and Australia, has been operating its Unibet brand in New Jersey and Pennsylvania for about a year. Companies like Unibet must also be aware of changing regulations regarding online betting that can limit how fast and how far firms can innovate. Complying with U.S.

Online 142

Online New Jersey Pennsylvania Regulation 142

PYMNTS

OCTOBER 26, 2017

McDonald’s franchise owners in Pennsylvania have settled a lawsuit filed in 2015 over their use of payroll cards, news reports on Wednesday (Oct.

Cards 116

Cards Pennsylvania New York ATM 116

American Banker

MAY 6, 2016

Pennsylvania state regulators on Friday closed the $103.3 million-asset First CornerStone Bank in King of Prussia, the third institution to fail this year.

Regulation 28

Regulation Pennsylvania Community Bank Community 28

PYMNTS

DECEMBER 27, 2019

That is said to be a sign that the open-armed tack of the state to regulating as well as legalization different types of gambling has spurred widespread growth per an iDevelopment & Economic Association report. Online casinos’ monthly revenue more than doubled in the 15 months following the rollout of sports betting in June of last year.

NJ 131

NJ New Jersey Las Vegas Online 131

CFPB Monitor

OCTOBER 12, 2020

Topics will include credit card and payments regulation, fair lending, Fintech developments, enforcement developments, student and mortgage lending and servicing issues, debt collection, Community Reinvestment Act rules, and anti-money laundering. More information, including how to register, will be available in the coming weeks.

Nevada 60

Nevada New Jersey Pennsylvania Lending 60

American Banker

FEBRUARY 5, 2024

First National Bank of Pennsylvania, a unit of FNB Corp., ran into trouble in connection with North Carolina operations it acquired from Yadkin Financial in 2017.

North Carolina 28

North Carolina Pennsylvania National Operations 28

PYMNTS

OCTOBER 6, 2016

Internet-based sharing economy firms have so far managed to skirt rules that hold users accountable to local regulations. Airbnb has already beaten Anaheim in Florida, which dropped efforts to regulate the home-sharing company within two weeks of being sued. Communications Decency Act. San Francisco has a housing crisis.

San Francisco 168

San Francisco Pennsylvania Regulation Florida 168

PYMNTS

FEBRUARY 1, 2019

According to Bloomberg , Attorneys General in Pennsylvania, Illinois and Connecticut are investigating existing allegations against the company, while New York, New Jersey and Massachusetts are looking to find any potential unknown violations. regulators met to discuss issuing a “record-setting” fine against the company. billion.

North Carolina 108

North Carolina New Jersey Connecticut social media 108

CFPB Monitor

SEPTEMBER 5, 2019

Court of Appeals for the Third Circuit in the Pennsylvania Attorney General’s lawsuit against Navient Corp. In its amicus brief, the CFPB supports the PA AG’s position that Pennsylvania’s federal UDAAP claims can proceed in parallel to similar UDAAP claims asserted by the CFPB in its lawsuit against Navient. Constitution.

Pennsylvania 60

Pennsylvania Exercises Resources Regulation 60

CFPB Monitor

SEPTEMBER 5, 2019

Nicholas Smyth, Assistant Director of the Pennsylvania Attorney General’s Bureau of Consumer Protection, was our guest speaker for a webinar yesterday. Nick discussed the unit’s cooperation with federal regulators and other state regulators and its handling of various enforcement matters.

Indiana 60

Indiana Pennsylvania Delaware Illinois 60

PYMNTS

APRIL 5, 2016

Amid sliding stock prices, the retail conglomerate has also been fighting an expensive legal battle over wages employees in Pennsylvania have maintained for years they are rightfully due. The decision includes roughly 187,000 Walmart employees who worked in Pennsylvania stores between 1998 and 2006. Reuters reported that the U.S.

Pennsylvania 100

Pennsylvania Texas Dallas Retail 100

PYMNTS

MAY 19, 2020

Pennsylvania reported similar numbers, with tax revenues from brick-and-mortar gambling dropping to $50.5 online gaming sites harness online payments, methods have to be licensed on a state-by-state basis, and transactions are subject to local regulations. And, even though revenue for its casinos dropped 61.7 The state has earned $24.3

Online 130

Online Louisiana South Dakota Mississippi 130

PYMNTS

MAY 2, 2016

Last week, Reuters reported that First Choice Credit Union of Pennsylvania plans to represent financial institutions in a lawsuit against Wendy’s, claiming that the company’s insufficient security measures allowed the actions of hackers to compromise its customers’ financial card data and go unnoticed for weeks.

Data 100

Data Pennsylvania Cards System 100

PYMNTS

JULY 17, 2018

Last year reports in the National Law Review said the New York State Industrial Board of Appeals ruled against the New York State Department of Labor, arguing that the NYSDOL’s payroll card regulations imposed in 2016 were “invalid” and overstepped the department authority.

Cards 100

Cards Georgia Alabama New York 100

PYMNTS

FEBRUARY 6, 2019

” Regulators have not accused the company of wrongdoing, and FLEETCOR said all of its fees are lawful and comply with regulations. Last year, the New York State Supreme Court revived efforts to introduce stricter regulations on payroll cards in an effort to combat excessive fees.

Cards 167

Cards Missouri Kansas Pennsylvania 167

CFPB Monitor

MAY 6, 2019

The New York Department of Financial Services continues to be one of the most active state regulators and the new structure indicates a strategic focus on consumer financial services and the prioritization of enforcement as a preferred regulatory tool. New York is the second state to create a “mini” CFPB, following Pennsylvania.

New York 90

New York Pennsylvania Compliance Lending 90