CFPB Monitor

SEPTEMBER 13, 2023

Last week, three farm credit trade associations filed the latest in a series of unopposed emergency motions for leave to intervene in the Texas case challenging the Consumer Financial Protection Bureau’s (“CFPB”) final small business lending rule implementing Section 1071 of the Dodd-Frank Act (Rule).

Texas 147

Texas Lending Capital 147

CFPB Monitor

MARCH 7, 2024

The plaintiffs and intervenors in the lawsuit filed in a Texas federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank (Rule) have filed a consolidated motion for summary judgment.

Texas 78

Texas Lending Data 78

CFPB Monitor

JULY 31, 2023

The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule “pending the Supreme Court’s reversal of [ Community Financial Services Association of America (..)

Texas 145

Texas America Lending Community 145

CFPB Monitor

JANUARY 19, 2023

A Texas federal court has dismissed a class action lawsuit against Opportunity Financial, LLC (“OppFi”) alleging OppFi violated Texas usury law by charging interest on loans it made through a partnership with a state-chartered bank at rates above the maximum rate permitted by Texas law.

Texas 78

Texas Company Fintech 78

PYMNTS

JUNE 25, 2020

As coronavirus cases spike in Texas, the state’s officials have walked back their reopening plans for the state, CNBC reported. Texas is among the hardest-hit states, with the greatest number of new cases.

Texas 151

Texas San Antonio Dallas Houston 151

PYMNTS

JANUARY 19, 2021

A Texas resident, 32-year-old Samuel Yates, was charged with allegedly trying to file fraudulent bank applications for over $5 million in loans related to COVID-19 relief, according to a press release Friday (Jan. 15) from the Department of Justice.

Texas 263

Texas Fraud Taxes Report 263

American Banker

APRIL 1, 2024

A federal judge in Texas sided with bank trade groups, agreeing that bank regulators might have overstepped their authority in reforming parts of the Community Reinvestment Act.

Texas 50

Texas Community Regulation Groups 50

PYMNTS

AUGUST 20, 2019

I am proud to welcome Uber’s investment in the great state of Texas, along with the 3,000 jobs the company will bring to its new Dallas office,” Abbott said in a press release. This investment will bolster Texas’ continued economic success and reputation as the best state for business. General and Administrative Hub in Dallas.

Texas 134

Texas Dallas Regional Innovation 134

PYMNTS

MAY 19, 2020

A Texas man is facing charges of filing fraudulent loan applications seeking more than $5 million in forgivable loans from the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), according to the U.S. Brown of the Eastern District of Texas, in a statement. “We Department of Justice. Attorney Joseph D.

Texas 205

Texas Fraud Taxes Security 205

CFPB Monitor

MARCH 13, 2024

Just two days after the CFPB issued its final credit card late fee rule (Rule) last week, a lawsuit was filed in a Texas federal district court seeking to invalidate the Rule. Continue Reading

Texas 78

Texas Fort Worth United States Cards 78

CFPB Monitor

MAY 1, 2023

The lawsuit was filed last week in a Texas federal district court by the Texas Bankers Association and Rio Bank, McAllen, Texas. . While it has only been a month since the CFPB issued its final rule to implement Section 1071 of the Dodd-Frank Act, the CFPB is already facing a lawsuit challenging the rule’s validity.

Texas 78

Texas Groups Data 78

PYMNTS

OCTOBER 9, 2020

Dinesh Sah, 55, of Coppell, Texas, was charged with three counts of wire fraud, three counts of bank fraud and one count of money laundering. Sah was initially charged in a sealed complaint, arrested and ordered detained until trial, according to federal court records for the Northern District of Texas, where the case has been brought.

Texas 142

Texas Fraud Dallas Taxes 142

CFPB Monitor

AUGUST 7, 2023

Texas First Bank (Texas First), Independent Bankers Association of Texas (IBAT), and Independent Community Bankers of America (ICBA) (collectively, Proposed Intervenors) have filed an unopposed motion seeking leave from the court to intervene in the lawsuit challenging the CFPB’s final small business lending rule (Rule).

Community Bank 78

Community Bank Texas Community Lending 78

CFPB Monitor

OCTOBER 30, 2023

The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule on a nationwide basis against all entities covered by the Rule.

Texas 146

Texas Lending 146

CFPB Monitor

SEPTEMBER 11, 2023

As we predicted long ago, on Friday, September 8, 2023, the Federal District Court for the Eastern District of Texas vacated the changes made in March 2022 to the CFPB’s Exam Manual.

Texas 97

Texas Lending 97

PYMNTS

MAY 3, 2020

Texas hospitality group Ashford Inc. is buckling under pressure and will return $70 million in Paycheck Protection Program (PPP) loan money it received due to the coronavirus pandemic, according to The New York Times. The network of hotels run by Texan Monty Bennett had dozens of PPP applications in the works totaling $126 million.

Texas 167

Texas Groups Los Angeles Dallas 167

PYMNTS

JULY 23, 2020

Texas Attorney General Ken Paxton is leading a multi-state probe against Apple Inc. Axios reported the investigation is examining Apple’s possible use of deceptive trade practices that may have broken consumer protection laws. While details of the inquiry are unclear, the probe may lead to the latest lawsuit against Apple.

Texas 159

Texas Apple California Google 159

CFPB Monitor

AUGUST 23, 2023

The CFPB has filed its opposition to the motion for a preliminary injunction filed by the intervenors in the Texas federal court lawsuit challenging the CFPB’s final small business lending rule (Rule). The intervenors are several credit unions, community banks, and credit union and community bank trade associations.

Texas 78

Texas Lending Community Bank Community 78

CFPB Monitor

FEBRUARY 7, 2024

Several national and Texas banking and business trade groups have filed a lawsuit in the U.S.

Texas 78

Texas Community Groups FDIC 78

BankDeals

AUGUST 8, 2020

Texas Bank Financial offers its Kasasa Cash Checking and Kasasa Saver to all Texas residents. The competitive rates apply to relatively large balances.

Texas 105

Texas 105

ATM Marketplace

MAY 21, 2021

A proposed law to register ATMs in Texas to fight human trafficking has drawn criticism from the ATM industry.

Texas 138

Texas ATM Industry 138

ABA Community Banking

MARCH 30, 2023

The ABA Banking Journal Podcast wraps up Women's History Month with a conversation on an early Texas banking pioneer: Anna Mebus Martin. The post Podcast: Meet Anna Martin, a Texas banking pioneer appeared first on ABA Banking Journal.

Texas 52

Texas Meeting Community Bank Community 52

Bank Innovation

JANUARY 10, 2018

Plano, Texas-based startup Alkami Technology has raised $70 million for its mobile banking platform, it was reported yesterday.

Texas 170

Texas Mobile Software Digital Banking 170

The Paypers

FEBRUARY 26, 2024

The Texas Blockchain Council has initiated legal proceedings against the US-based EIA , for an alleged illegal data collection against the bitcoin industry.

Texas 41

Texas blockchain Bitcoin US 41

BankDeals

DECEMBER 7, 2020

R Bank (Texas) is currently offering its high-yield reward checking account, called R Best Checking, on a statewide basis through an online application.

Texas 103

Texas Online 103

American Banker

OCTOBER 18, 2023

Texas Attorney General Ken Paxton's office said it's reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a state law that punishes firms for restricting their work with the oil-and-gas industry because of climate-change concerns.

Texas 59

Texas Policies America Industry 59

Jeff For Banks

AUGUST 28, 2020

The challenge: We are based in Pennsylvania and our governor still has a 14-day quarantine order for those traveling from Texas. Special thanks to the eminently polite people of Texas, and our friends at FirstCapital Bank of Texas, N.A. So we condensed site work, and stayed the weekend! Over 1,300 miles. for such a warm welcome.

Texas 78

Texas Pennsylvania Video 78

CFPB Monitor

AUGUST 15, 2023

A Texas credit union and two credit union trade associations have been granted leave to intervene in the lawsuit challenging the CFPB’s final small business lending rule (Rule) that is pending in a Texas federal district court.

Texas 78

Texas Lending Kentucky National 78

American Banker

JULY 24, 2023

Valarie Ivester, assistant vice president of indirect strategy and development for Greater Texas Credit Union, has helped update strategy from the start of the pandemic through the recent chip shortage.

Texas 69

Texas Lending Strategy 69

American Banker

MARCH 19, 2024

A Texas judge ordered the U.S. Chamber of Commerce to explain why it sued the Consumer Financial Protection Bureau in Texas to halt the bureau's $8 credit card late fee rule after the bureau filed a motion accusing the trade group of "forum shopping."

Texas 41

Texas Groups Cards Policies 41

Banking Exchange

JANUARY 26, 2022

Former head of Citigroup Wealth Advisors to join Texas Capital in newly-created role Management Feature Human Resources Financial Trends Feature3.

Texas 78

Texas Capital Resources Trends 78

ATM Marketplace

MAY 14, 2021

A Texas house bill aims to fight human trafficking by requiring operators to register white-label ATMs.

Texas 111

Texas ATM Operations 111

CFPB Monitor

JUNE 10, 2022

Michael alleges OppFi runs this “rent-a-bank” scheme to purposefully skirt state law, including in Texas where Ms. Michael asserts claims against OppFi for violations of Texas usury laws, unjust enrichment, and RICO violations and seeks declaratory relief. Michael signed her loans and where the maximum interest rate caps out at 30%.

Texas 78

Texas Fintech California Utah 78

PYMNTS

APRIL 15, 2020

Members of AAA who have their vehicles insured via the Interinsurance Exchange of the Automobile Club and its affiliate insurers will get a total of $125 million in premium reimbursements, AAA Texas said in an announcement. Each policyholder with insurance in place between March 16 and May 15 will get a 20 percent reimbursement check.

San Diego 130

San Diego Texas Report 130

PYMNTS

MAY 8, 2018

Drive.ai , the California self-driving car startup, announced Monday (May 7) that it is launching an on-demand self-driving car service pilot in Frisco, Texas. It marks the first time self-driving cars will be on the public roads of Texas, noted the company. In a press release , Drive.ai said in the press release.

Texas 129

Texas California Regional Innovation 129

CFPB Monitor

AUGUST 2, 2023

On Monday, the Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule “pending the Supreme Court’s reversal of [ Community Financial Services Association of America (..)

Texas 78

Texas America Community Lending 78

CFPB Monitor

AUGUST 16, 2023

Two new developments occurred yesterday in the Texas lawsuit challenging the CFPB’s final small business lending rule (Rule).

Texas 78

Texas Community Community Bank Lending 78