The Consumer Financial Protection Bureau (CFPB) ordered First National Bank of Omaha (FNBO) to pay a $4.5 million civil money penalty and $27.75 million in customer restitution for violations of engaging in deceptive...more
10/6/2016
/ Add-ons ,
Banking Sector ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
First National ,
Popular ,
Risk Management ,
UDAAP ,
Unfair or Deceptive Trade Practices
In a clear message to FinTech start-ups, on September 27, 2016, the Consumer Financial Protection Bureau (CFPB) ordered online lender Flurish, Inc. to pay $1.83 million in refunds and a civil penalty of $1.8 million for...more
10/3/2016
/ Banking Sector ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Business Oversight ,
Enforcement Actions ,
Facebook ,
Financial Services Industry ,
FinTech ,
Innovation ,
Innovative Technology ,
Online Marketplace Lending ,
Payday Loans ,
Popular ,
Regulatory Oversight ,
Startups ,
Technology
Last week, federal and state lawmakers took significant steps toward specific regulations targeting digital financial technology, mobile banking and cybersecurity, signaling the possibility of wholesale changes to the legal...more
9/21/2016
/ Banking Sector ,
Blockchain ,
Cybersecurity ,
Data Protection ,
Digital Currency ,
Financial Services Industry ,
FinTech ,
Legislative Agendas ,
Popular ,
State and Local Government ,
Technology