On December 14, 2021, Wheels Financial, LLC (d/b/a LoanMart) entered into a consent order with the California Department of Financial Products and Innovation (DFPI) in which the company agreed to end its lending partnership...more
1/26/2022
/ Banks ,
Consent Order ,
Consumer Financial Products ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
Fair Access to Credit ,
Financial Services Industry ,
FinTech ,
Title Lender ,
Title Loans ,
True Lender ,
UDAAP
On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced plans to issue an advance notice of proposed rulemaking (ANPR) regarding consumer-authorized third party access to financial records. The...more
The Consumer Financial Protection Bureau (CFPB) issued a bulletin on September 3, 2014 warning credit card companies that marketing materials for promotional annual percentage rate (APR) offers may be in violation of the...more
On December 3, 2013, the Georgia Department of Banking and Finance adopted Final Rules implementing the Georgia Merchant Acquirer Limited Purpose Bank Act. The Final Rules contained several revisions to the second draft of...more
On July 31, 2013, the Georgia Department of Banking and Finance published its first set of proposed regulations to implement the Georgia Merchant Acquirer Limited Purpose Bank Act. The Act, which became effective on March 28,...more