As reported in American Banker, consumer advocacy groups are concerned that financial inclusion expectations for fintechs chartered as special-purpose national banks may not perfectly mirror the requirements of the Community...more
Two leading industry trade groups have disputed a recent New York Times editorial entitled “When a Car Loan Means Bankruptcy,” which attempted to draw parallels between subprime auto loans and subprime mortgage loans. The...more
On September 30, 2013, the New York Department of Financial Services (DFS) adopted emergency regulations revising the calculation for subprime loans and sent a letter to supervised institutions explaining the revisions. ...more