Thirty groups have written to the CFPB, FTC, Department of Justice and federal banking regulators urging them “to closely monitor the payment processing procedures and compliance safeguards in place” at the payment processors...more
Pennsylvania Act 52 (Act 52), signed into law on July 9, 2013, expands the reach of the Pennsylvania bank shares tax and allows the Commonwealth to impose the bank shares tax on a bank with no offices or branches in...more
The U.S. Court of Appeals for the Eighth Circuit recently addressed an important issue that the U.S. Supreme Court avoided last year concerning whether a consumer must suffer actual economic harm to have standing to sue for...more
FinCEN has issued a new ruling that will provide some relief from certain transaction reporting requirements for banks and other financial institutions using armored car services (ACS)....more
The Office of the Comptroller of the Currency (OCC) has made clear that all national banks and federal savings associations can expect increased scrutiny of their debt sales practices, as well as supervisory guidance...more