A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more
4/25/2025
/ Banks ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Interest Rates ,
Lenders ,
Licensing Rules ,
National Bank Act ,
New Legislation ,
NMLS ,
Pending Legislation ,
Service Contracts ,
Small Business Loans ,
State Legislatures
In the last few years, state legislatures have enacted legislation to curtail online bank lending in response to advocacy efforts by consumer activists.
Such programs, in which nonbank financial technology companies...more
2/21/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Internet Lenders ,
Loans ,
New Legislation ,
Usury
In this article, we share a timeline of our monthly "bites" for 2024 applicable to companies in FinTech. The Consumer Financial Protection Bureau was on a tear in the months leading up to the election and the inauguration of...more
2/11/2025
/ Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Privacy ,
Data Protection ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FinTech ,
FTC Act ,
Risk Management ,
ROSCA ,
State Attorneys General
Virginia's Interest and Usury Chapter (the "Chapter"), found in the Financial Institutions and Services Title of the Virginia Code, sets out basic rules for what rates of interest various entities may charge in the state. ...more
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
In a victory for fintechs and the banks that partner with them, the U.S. District Court for the Northern District of California recently turned back two challenges by a consortium of state attorneys general to the "valid when...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
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