• 08.04.16

    Overdraft Service Program Costs Bank $10M in CFPB Fine

    Overdraft services practices were the basis for a $10 million fine from the Bureau of Consumer Financial Protection (CFPB) in a recent action against a national bank operating primarily in the northeast.

  • 07.21.16

    Network Rules Occupy Second Circuit, U.S. Supreme Court

    Issues surrounding network rules made headlines recently, with the Second Circuit Court of Appeals rejecting a $7.25 billion deal between Visa and MasterCard and approximately 12 million merchants claiming the networks worked together to fix credit and debit interchange fees, as well as the U.S. ...

  • 07.07.16

    Will Industry Feel Impact of Supreme Court's Madden Rejection?

    In a disappointing move, the U.S. Supreme Court has denied the petition for certiorari by Midland Funding to hear the case Madden v. Midland Funding. But could the inaction by the Supreme Court be much ado about nothing?

  • 06.23.16

    CFPB Releases Proposed Regulation of Payday Loans

    In a long anticipated move, the Consumer Financial Protection Bureau (CFPB) proposed a rule to regulate so-called "debt traps" by requiring lenders to take additional steps to ensure consumers have the ability to repay certain types of small loans and placing limits on reborrowing or ...

  • 06.10.16

    New York's DFS Reaches $3M Deal Involving Payday Lending Debts

    Continuing its efforts against payday lenders, New York's Department of Financial Services (DFS) announced a consent decree with National Credit Adjustors (NCA) and Webcollex totaling $3 million.

  • 05.26.16

    New Guidance From FFIEC on Mobile Financial Services

    Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC).

  • 05.25.16

    Justice Department Sides With Financial Industry on Madden Case

    Marketplace loan investors may want to "gather ye discounted Madden loans while ye may," as the Robert Herrick poem reads (taking some fintech license, of course).

  • 05.12.16

    Treasury Issues White Paper on Marketplace Lending

    On May 10, 2016, the U.S. Department of the Treasury released its highly anticipated white paper on online marketplace lending.

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