Banks are Borrowing Less from the Federal Reserve -
“’So the fact that they are now borrowing less means that they’re trying to get back to normal.’”
Why this is important: Investors and commentators look to several...more
5/1/2023
/ Automotive Loans ,
Banking Sector ,
Coronavirus/COVID-19 ,
Credit Unions ,
Defamation ,
Deposit Insurance ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
Fox News ,
Mortgages
Biden Signs Bills Aimed at Catching Pandemic Business Loan Cheats -
"President Joe Biden signed a pair of bills that will give the Justice Department more time to investigate and prosecute people accused of fraudulently...more
Banking Law Rooted in Civil Rights Era Gets a 21st Century Update "The Community Reinvestment Act basically mandates that if you open a bank in a low-income neighborhood, you can’t just take that neighborhood’s deposits and...more
6/3/2022
/ Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Decriminalization of Marijuana ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
OCC
Welcome to our last Promissory Notes issue of 2021. As we all know, 2021 was another interesting year in the banking and finance industry, and we expect 2022 to be much the same. Our goal, as with all of our publications, is...more
Biden Administration Extends Student Loan Pause Until January 31, 2022 -
"The Department believes this additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the...more
9/21/2021
/ Banking Sector ,
Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Fair Credit Reporting Act (FCRA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Housing Market ,
Interest Rates ,
Military Service Members ,
Payday Loans ,
Securities and Exchange Commission (SEC) ,
Small Dollar Lenders ,
Student Loans
Why the Overturned Eviction Moratorium May be Too Little, Too Late for Both Renters, Landlords -
"However, the ruling doesn’t mean renters in states without protections will be immediately removed from their homes — an...more
9/7/2021
/ CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Debt Collection ,
Department of Education ,
Eviction ,
Federal Reserve ,
Financial Services Industry ,
Foreclosure ,
HELOC ,
Moratorium ,
Payday Loans ,
Startups ,
Venture Capital ,
Wage Garnishment
Welcome to our fifth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights. We hope you are enjoying our monthly publication.
Banks to Companies: No More Deposits, Please -
"Some banks,...more
A New Bill Could Allow Digital Closings Nationwide
"Dubbed the SECURE Notarization Act, the bill would allow for remote online notarization services nationwide."
Why this is important: In the wake of the coronavirus...more
6/3/2021
/ Banking Sector ,
Biden Administration ,
Coronavirus/COVID-19 ,
Electronic Notarization Standard ,
Financial Institutions ,
Financial Services Industry ,
First Amendment ,
Foreclosure ,
Notarization ,
Payday Loans ,
Student Loans ,
TCPA
The Fed Plans to Unveil Digital Dollar Prototypes in July -
"The Boston Fed and MIT hope to unveil some of their work in the third quarter, including at least two prototype software platforms that could move, store and...more
Remote Online Notarization: What You Need to Know -
"Digital closing are the norm, here’s how to prepare and serve your clients."
Why this is important: Remote Online Notarization, or RON, is the use of audio/visual...more
Servicemembers’ Civil Relief Act - What You Need to Know -
Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more
10/23/2020
/ Artificial Intelligence ,
Coronavirus/COVID-19 ,
Credit Cards ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Financial Services Industry ,
FinTech ,
Gig Economy ,
High Net-Worth ,
Interest Rates ,
Investment Opportunities ,
Loan Forgiveness ,
Loans ,
Mortgages ,
Payday Loans ,
Reverse Mortgages ,
SBA ,
Servicemembers Civil Relief Act (SCRA) ,
Small Business Loans ,
Startups ,
Venmo
Is a Cap on Payday Loan Rates About Protecting the Poor or Eliminating a Service?
"Industry representatives say the proposed cap would drive most, if not all, payday lenders out of business and leave their customers...more
10/13/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Forbearance Agreements ,
Governor Newsom ,
Loan Servicer ,
Mortgage Lenders ,
Mortgages ,
Payday Loans
Three Important Ways the COVID-19 Pandemic is Changing the Delivery of Consumer Financial Services -
The world continues to come to grips with the daily changes brought by the COVID-19 pandemic. Schools contemplate...more
9/18/2020
/ Appeals ,
Blockchain ,
Buyers ,
CARES Act ,
Consumer Bankruptcy ,
Consumer Complaint Database ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Terms ,
Coronavirus/COVID-19 ,
Delinquency Status ,
Enforcement Actions ,
FDCPA ,
Forbearance Agreements ,
Lenders ,
Mortgages ,
Reaffirmation ,
Reverse Mortgages ,
Student Loans ,
VA Loans
As of Monday, March 23, Virginia Governor Northam announced all public K-12 schools will remain closed through the end of the school year and many – but not all – non-essential businesses will be required to close their...more