Welcome to our first issue of Promissory Notes - our banking and finance e-newsletter - for 2025. We developed this e-newsletter to address trending news and issues involving the banking industry. ...more
3/26/2025
/ Artificial Intelligence ,
Banking Sector ,
Banks ,
Data Management ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Investment ,
Lenders ,
New Legislation ,
Promissory Notes ,
Risk Management ,
State Legislatures ,
Technology
Welcome to our second 2025 issue of The Site Report! In this edition, we address tariff fears in the industry, the use of artificial intelligence in building design, an update on The Rural Historic Tax Credit Improvement Act,...more
2/28/2025
/ Artificial Intelligence ,
Construction Industry ,
Construction Project ,
Contractors ,
Corporate Transparency Act ,
Data Centers ,
Energy Projects ,
Energy Sector ,
Federal Contractors ,
Nuclear Power ,
Power Plants ,
Regulatory Agenda ,
Renewable Energy ,
Tariffs ,
Tax Credits ,
Technology Sector ,
Wind Farm
OCC Issues Guidance on ‘Buy Now, Pay Later’ Lending -
“The guidance notes that banks should maintain underwriting, repayment terms, pricing, and safeguards that minimize adverse customer outcomes and should ensure that...more
1/29/2024
/ Artificial Intelligence ,
Banking Regulators ,
Basel Committee on Banking Supervision (BCBS) ,
Buy Now Pay Later (BNPL) ,
Climate Change ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Interest Rates ,
Lending ,
Machine Learning ,
New Guidance ,
OCC ,
Risk Management ,
Software
FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches -
“Amendment will require non-bank financial institutions to report when they discover that information affecting...more
11/8/2023
/ Artificial Intelligence ,
Banks ,
Beneficial Owner ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Transparency Act ,
Credit Unions ,
Data Breach ,
Data Security ,
Debit Cards ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Interest Rates ,
Non-Bank Lenders ,
Reporting Requirements ,
Safeguards Rule ,
State and Local Government
CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking -
"Poorly deployed chatbots can impede customers from resolving problems."
Why this is important: The Consumer Financial Protection Bureau...more
7/11/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Credit Reports ,
Customer Service Standard ,
Debt Collection ,
Delinquency Status ,
Fair Credit Billing Act (FCBA) ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Institutions ,
Financial Services Industry ,
Landlords ,
Tenants
GOP Senator Backs Marijuana Banking Bill, but Doubts Democratic Leadership Will Advance It -
“Sen. Tommy Tuberville (R-AL), said that he’d be a ‘yes’ vote on the Secure and Fair Enforcement (SAFE) Banking Act if it...more
7/3/2023
/ Artificial Intelligence ,
Banking Sector ,
Bots ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Consumer Privacy Rights ,
Foreclosure ,
Legalization ,
Legislative Agendas ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Robotics ,
SAFE
Survey Finds Small-Business Lending Fraud on Rise -
“Lending fraud with small and midsize businesses has increased significantly over the last 12 months, and many financial institutions expect it to get worse, according to...more
6/1/2023
/ Artificial Intelligence ,
Banks ,
Chapter 11 ,
Commercial Bankruptcy ,
Construction Industry ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Financial Institutions ,
Financial Services Industry ,
Fraud ,
Lending ,
Libor ,
Secured Overnight Funding Rate (SOFR) ,
Small Business ,
Truth in Lending Act (TILA)
IRS Chief Tells Elizabeth Warren: More Transparent Bank Data Can Fight Tax Evasion -
"Rettig, a Trump administration holdover, touted a provision in the American Families Plan that would require banks to report on their...more
10/6/2021
/ Artificial Intelligence ,
Bank Secrecy Act ,
Banking Sector ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Economic Injury Disaster Loans ,
Equitable Mootness ,
Financial Institutions ,
Financial Services Industry ,
Reorganizations ,
SBA
As Banks Push AI, Worry About Worsening Inequality Follows -
"AI and machine learning might amplify patterns of historical discrimination and financial exclusion through reliance on flawed data or mistakes in...more
Servicemembers’ Civil Relief Act - What You Need to Know -
Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more
10/23/2020
/ Artificial Intelligence ,
Coronavirus/COVID-19 ,
Credit Cards ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Financial Services Industry ,
FinTech ,
Gig Economy ,
High Net-Worth ,
Interest Rates ,
Investment Opportunities ,
Loan Forgiveness ,
Loans ,
Mortgages ,
Payday Loans ,
Reverse Mortgages ,
SBA ,
Servicemembers Civil Relief Act (SCRA) ,
Small Business Loans ,
Startups ,
Venmo