In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more
1/17/2024
/ Abusiveness Standard ,
Bots ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Wallets ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
New Guidance ,
Non-Bank Lenders ,
Regulatory Oversight ,
Standard Form Contracts ,
Stock Options ,
Wage Advances ,
Wages
In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Fintech industry.
So, what happened in 2022?...more
On August 18, 2021, the California Department of Financial Protection and Innovation ("DFPI") released draft regulations and an invitation for comments under the California Consumer Financial Protection Law ("CCPL"). The CCPL...more
If the current pandemic has taught us anything, it is that we depend on each other for in-person contact more than we thought. This is especially true for unbanked and underbanked consumers seeking financial services....more
5/18/2020
/ Car Dealerships ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Credit ,
Cybersecurity ,
Debt Collection ,
E-Signatures ,
Financial Services Industry ,
FinTech ,
Loan Applications ,
Loan Origination Funds ,
Marketing ,
Moratorium ,
Remote Working ,
Risk Assessment ,
Risk Mitigation ,
Shelter-In-Place
The debt settlement industry received some "regulation by enforcement" in the wake of a settlement of the lawsuit filed by the Consumer Financial Protection Bureau ("CFPB") against Freedom Debt Relief, LLC ("FDR"). The...more
8/5/2019
/ Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Relief ,
Debt Settlement Services ,
Debt-Relief Industry ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Stipulated Judgment ,
Telemarketing Sales Rule
FinTech and RegTech Trends to Watch -
Much has been written about FinTech and RegTech in the last few years and, for many lenders, such terms aren’t wholly relevant to the day-to-day operations of their businesses – or are...more
7/31/2019
/ Artificial Intelligence ,
Biometric Information ,
Blockchain ,
Compliance ,
Consumer Financial Products ,
Customer Service Standard ,
Data Management ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
Lenders ,
Mobile Banking ,
RegTech ,
Regulatory Standards
Bank partnerships allow banks to offer loans to consumers and businesses by leveraging the resources of non-bank entities. The relationships between banks and their non-bank entity partners have existed for many years. In the...more
6/14/2019
/ Bank Partnership Lending Programs ,
Banks ,
Choice-of-Law ,
Consumer Financial Products ,
DIDMCA ,
Enforcement Actions ,
FDIC ,
Interest Rates ,
Internet Lenders ,
Lack of Authority ,
Licensing Rules ,
Madden v Midland Funding ,
Mortgages ,
National Bank Act ,
Non-Bank Lenders ,
NYDFS ,
Opt-Outs ,
Preemption ,
Regulatory Requirements ,
Small Dollar Lenders ,
Unconscionable Contracts ,
Uniform Commercial Code (UCC) ,
Usury