The CFPB brought a lawsuit against installment lender Heights Finance Holding Company f/k/a Southern Management Corporation and several of its subsidiaries (collectively, “Southern Management”) over alleged violations of the...more
Mindful of the impending retirement of many millions of investors in the “baby boomer” generation, which hold a substantial amount of the world’s wealth, the Financial Industry Regulatory Authority (FINRA) continues to...more
The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more
The fair treatment of vulnerable customers is a key priority for the FCA. It is an important topic not least because the FCA considers that half of UK adults (25.6 million people) display one or more characteristics of...more
On August 6, 2019, the New York Department of Financial Services Superintendent Linda A. Lacewell announced that the DFS will lead a multistate investigation into the payroll advance industry and allegations of unlawful...more
The New York Department of Financial Services (DFS) issued a press release this week to announce that it is leading a multistate investigation into the payroll advance industry. A payroll advance allows an employee to access...more
The FCA has published a consultation on proposed non-Handbook guidance for firms on the fair treatment of vulnerable customers. The FCA reiterates that vulnerability is one of its key priorities and makes it clear that the...more
The Federal Reserve Board announced last week that it was launching a new article series, Consumer & Community Context, that features original analysis about the financial conditions and experiences of consumers and...more