A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more
4/25/2025
/ Banks ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Interest Rates ,
Lenders ,
Licensing Rules ,
National Bank Act ,
New Legislation ,
NMLS ,
Pending Legislation ,
Service Contracts ,
Small Business Loans ,
State Legislatures
In the last few years, state legislatures have enacted legislation to curtail online bank lending in response to advocacy efforts by consumer activists.
Such programs, in which nonbank financial technology companies...more
2/21/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Internet Lenders ,
Loans ,
New Legislation ,
Usury
In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more
1/17/2024
/ Abusiveness Standard ,
Bots ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Wallets ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
New Guidance ,
Non-Bank Lenders ,
Regulatory Oversight ,
Standard Form Contracts ,
Stock Options ,
Wage Advances ,
Wages
On August 18, 2021, the California Department of Financial Protection and Innovation ("DFPI") released draft regulations and an invitation for comments under the California Consumer Financial Protection Law ("CCPL"). The CCPL...more