On September 21, 2021, the State of New York Department of Financial Services (DFS) issued proposed regulations that will implement statutory requirements related to commercial financing disclosures for certain types of...more
On March 11, the Consumer Financial Protection Bureau (CFPB) announced the rescission of its January 24, 2020 policy statement entitled, "Statement of Policy Regarding Prohibition on Abusive Acts or Practices" (Prior Policy)....more
This advisory discusses the Federal Deposit Insurance Corporation's new Final Rule, which imposes obligations on parent companies of industrial banks, and what fintech companies should consider when evaluating an industrial...more
Key Points -
- The Consumer Financial Protection Bureau released the first part of final rules on permissible communications in connection with the collection of consumer debt, called the Final Rule.
- This advisory...more
The Administrator of the Colorado Uniform Consumer Credit Code (an officer within the Colorado Attorney General's office) (the "Colorado Administrator") has announced a settlement with Avant LLC and Avant of Colorado LLC...more
The primary regulator of the nation's largest banks, the Office of the Comptroller of the Currency (OCC), said Friday that it is considering issuing special purpose national bank charters to online lenders, payment processors...more