In a notice published in today’s Federal Register, the CFPB announced that it has extended the comment period on its small business lending RFI until September 14, 2017....more
Yesterday, I attended the CFPB’s field hearing in Los Angeles on small business lending. In connection with the hearing, the CFPB issued a white paper entitled “Key dimensions of the small business lending landscape,”...more
5/11/2017
/ Banking Sector ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Data Collection ,
Dodd-Frank ,
ECOA ,
Fair Lending ,
Financing ,
Minority-Owned Businesses ,
Request For Information ,
Small Business ,
Women-Owned Businesses
Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke....more
3/9/2017
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
FinTech ,
Innovative Technology ,
No-Action Letters ,
OCC ,
Project Catalyst ,
Request For Information ,
Richard Cordray ,
Special Purpose National Bank Charter ,
Technology ,
Thomas Curry ,
UDAAP
The CFPB has issued a request for information (RFI) that seeks information about the use of alternative data and modeling techniques in the credit process.
According to the CFPB, the RFI stems from the Bureau’s desire...more
The Federal Trade Commission (FTC) has announced that to study the effectiveness of various class action settlement notice programs, it has issued orders to eight claims administrators requiring them to provide information on...more
The U.S. Treasury Department has released a white paper addressing the online marketplace lending industry. Based in part on the responses to Treasury's July 2015 Request for Information (RFI), the white paper offers a broad...more
5/16/2016
/ Community Development Entities ,
Consumer Lenders ,
Financial Institutions ,
Financial Services Industry ,
Loans ,
Online Marketplace Lending ,
Peer-to-Peer ,
Request For Information ,
Small Business ,
Transparency ,
U.S. Treasury
The CFPB recently joined other federal regulators who have indicated a growing interest in marketplace lending with its announcement that it is accepting consumer complaints about loans obtained through marketplace lenders. ...more
The Federal Reserve Bank of Cleveland recently issued a special report on the results of online focus groups it conducted with the Federal Reserve Board “to better understand small businesses’ perceptions of online...more
9/4/2015
/ Borrowers ,
Consumer Lenders ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Security ,
Federal Reserve ,
Financial Institutions ,
Loans ,
Online Marketplace Lending ,
Popular ,
Privacy Concerns ,
Request For Information ,
Small Business
The U.S. Department of the Treasury has extended the deadline for submitting comments in response to its request for information (RFI) regarding online marketplace lending. Initially set to close on August 31, 2015, the...more
The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more