Payday lenders can move forward with their suit against federal regulators challenging the controversial Operation Choke Point, a Washington, D.C., federal court judge has ruled....more
Bringing banks into the battle over payday lending, the Consumer Financial Protection Bureau (CFPB) released a report finding that online payday loans "add a steep, hidden cost" to consumers by racking up bank fees....more
Why it matters -
A D.C. federal court judge issued a mixed ruling in a suit brought on behalf of payday lenders against the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board of Governors, and the...more
10/22/2015
/ Administrative Procedure Act ,
Arbitrary and Capricious ,
Banking Sector ,
Causation ,
Choke Point ,
Declaratory Judgments ,
Department of Justice (DOJ) ,
Due Process ,
FDIC ,
Federal Reserve ,
Fifth Amendment ,
Financial Institutions ,
Injunctive Relief ,
Injury-in-Fact ,
Motion to Dismiss ,
OCC ,
Payday Loans ,
Risk Management ,
Standing
Why it matters
A new report from the Department of Justice's (DOJ) Office of Professional Responsibility (OPR) found that agency attorneys did not engage in professional misconduct by improperly targeting objectionable...more
Texas-based ACE Cash Express will pay a total of $10 million to settle an enforcement action brought by the Consumer Financial Protection Bureau (CFPB), predicated upon a finding by the CFPB that ACE had engaged in unfair,...more
Depending on whom you ask, Operation Choke Point has a promising future ahead of it – or will soon be history.
The controversial initiative by the Department of Justice (DOJ) is intended to limit certain lenders and...more
Could a recent Supreme Court decision on tribal sovereignty as it applied to an Indian casino have an impact on payday lenders?
The case itself, Michigan v. Bay Mills Indian Community, involved a casino built by the...more
Court: FTC Can Regulate Payday Lenders Affiliated With Indian Tribes -
In what is being hailed by the Federal Trade Commission as a victory for regulators, a federal court judge in Nevada has ruled that the FTC has the...more
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
1/31/2014
/ Antitrust Litigation ,
Banks ,
Business Judgment Rule ,
Class Action ,
Deposit Advances ,
Directors ,
FDIC ,
Fees ,
MasterCard ,
Merchant Fees ,
Payday Loans ,
Settlement ,
Visa Inc