American Banker has reported that Manny Alvarez, Commissioner of the California Department of Financial Protection and Innovation, will be leaving the agency on June 18, 2021. ...more
The Commissioner of the Financial Institutions Division (FID) of the Nevada Department of Business and Industry and the Nevada Attorney General have filed opposition to the preliminary injunction motion filed by three trade...more
11/14/2019
/ Article III ,
Credit ,
Credit Applicants ,
Credit Reports ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Financial Institutions ,
Motion to Dismiss ,
New Legislation ,
Preemption ,
Preliminary Injunctions ,
Regulation B ,
Ripeness ,
Spouses ,
State and Local Government ,
Without Consent
The Commissioner of the Financial Institutions Division of the Nevada Department of Business and Industry and the Nevada Attorney General have filed a motion to dismiss the lawsuit filed last month in Nevada federal court by...more
11/11/2019
/ Article III ,
Credit Access ,
Credit Reports ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Motion to Dismiss ,
Preemption ,
Preliminary Injunctions ,
Ripeness ,
Spouses ,
State and Local Government ,
State Attorneys General
On October 1, three trade groups filed a lawsuit in Nevada federal court challenging an amendment to Nevada law that allows an applicant for credit with no credit history to request that the creditor deem the applicant’s...more
10/4/2019
/ Consumer Financial Products ,
Consumer Privacy Rights ,
Credit Applicants ,
Credit Discrimination ,
Credit History ,
Credit Reports ,
Data Security ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Federal v State Law Application ,
Financial Services Industry ,
Financial Transactions ,
Marital Status ,
Personally Identifiable Information ,
Preemption ,
Spouses ,
State and Local Government
Utah Governor Gary Herbert signed H.B. 378, Regulatory Sandbox, into law on March 25, 2019. This bill created the nation’s third regulatory sandbox program for fintechs, after Arizona, which enacted sandbox legislation in...more
6/12/2019
/ Blockchain ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
New Legislation ,
Regulatory Oversight ,
Sandbox ,
State and Local Government
Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “Financial Technology Sandbox Act” (Sandbox Act). (Arizona was the first state to create a fintech sandbox...more
Utah Governor Gary Herbert is expected to sign a new privacy law in the coming weeks that will make his state the first to protect private electronic data stored with third-party providers from government access without a...more
3/28/2019
/ Cloud Computing ,
Data Management ,
Electronically Stored Information ,
Government Investigations ,
Legislative Agendas ,
Pending Legislation ,
Privacy Laws ,
Search Engines ,
Search Warrant ,
Social Media ,
State and Local Government ,
Wireless Technology
As we just blogged, the New York State Department of Financial Services (“NYDFS”) has published guidance to “clarify the regulatory landscape and encourage” New York, state-chartered banks and credit unions to “offer banking...more
8/22/2018
/ Anti-Money Laundering ,
BSA/AML ,
Decriminalization of Marijuana ,
Dispensaries ,
Federal v State Law Application ,
Financial Institutions ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Marijuana ,
Money Laundering ,
Payment Processors ,
State and Local Government ,
State Charters ,
Suspicious Activity Reports (SARs)