• 01.23.20

    California DBO Challenging Transactions as Disguised Loans

    Potentially redefining the nature of a “loan,” the California Department of Business Oversight (DBO) is pursuing multiple enforcement efforts against certain financing vehicles that have long been recognized as exempt from lending laws.

  • 01.23.20

    OCC Asks Second Circuit to Hear Fintech Charter Dispute

    As expected, the Office of the Comptroller of the Currency (OCC) has requested a federal appeals court to reverse a decision by a lower court denying the OCC’s motion to dismiss a lawsuit challenging its plans to issue special purpose charters to fintech companies.

  • 01.09.20

    Manatt Fintech: What to Expect in 2020

    Taking a break after eight brisk years of regulatory and litigious turbulence, the world of fintech and marketplace lending in 2019 was notable for being more business as usual, or what some might call a “ho hum” year of upward growth.

  • 01.07.20

    2019 Financial Services M&A and Capital Markets Year in Review

    Although it was very quiet on the western front (in particular, in California), 2019 was generally a solid year for banks pursuing merger and acquisition opportunities and accessing the capital markets.

  • 12.24.19

    PayPal Hits CFPB With Lawsuit Over Prepaid Rule

    PayPal, Inc., filed suit against the Consumer Financial Protection Bureau (CFPB) recently, challenging the Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z) Rules as a violation of its First Amendment rights.  

  • 12.24.19

    FDIC Proposes to Update Brokered Deposits Regs

    In a notice of proposed rulemaking (NPRM), the Federal Deposit Insurance Corporation (FDIC) announced its plan to update its brokered deposits regulations.

  • 12.04.19

    OCC, FDIC Propose Madden Fix Regulations

    In a welcome development for fintechs, lenders and investors, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) separately have proposed regulations to address the substantial uncertainty created by the Second Circuit’s decision in Madden ...

  • 10.30.19

    Executive Orders Limit Agency Guidance

    Two executive orders recently signed by President Donald Trump will now require that federal agencies publish all informal guidance and limit its use in enforcement actions.

  • 10.16.19

    Lawmakers Urge Rulemaking to Overturn Madden

    In Madden v. Midland Funding, LLC, the Second Circuit refused to rule that the National Bank Act (NBA) pre-empted state law usury claims against an assignee of a national bank.

  • 09.25.19

    Déjà Vu: D.C. Court Dismisses Challenge to OCC’s Fintech Charter

    In the latest battle over the Office of the Comptroller of the Currency’s (OCC’s) plan to issue special purpose national bank (SPNB) charters, a D.C. federal judge has for a second time dismissed a lawsuit brought by the Conference of State Bank Supervisors (CSBS).