By an exemption order dated June 27, 2025, federal prudential regulators have given banks and credit unions some welcomed flexibility when collecting an individual’s or entity’s taxpayer identification number (TIN) during...more
7/8/2025
/ Banking Sector ,
Comptroller ,
Consumer Financial Products ,
Credit Unions ,
Customer Identification Program (CIP) ,
Depository Institutions ,
Financial Institutions ,
FinTech ,
New Guidance ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management ,
Taxpayer Identification Number ,
Third-Party
Last week, the Federal Deposit Insurance Corporation (FDIC) published Frequently Asked Questions on the final rule governing FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured...more
Similar to the Consumer Financial Protection Bureau’s Supervisory Highlights, the Federal Deposit Insurance Corporation (FDIC)’s Consumer Compliance Supervisory Highlights should be on your reading list. While the FDIC has...more
4/23/2024
/ Anti-Discrimination Policies ,
Compliance ,
Consent Order ,
Credit Builder Loans ,
Deposit Insurance ,
Fair Lending ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FinTech ,
Flood Disaster Protection Act ,
Mortgage Brokers ,
Truth in Lending Act (TILA) ,
Truth in Savings Act
On February 15th, the Federal Deposit Insurance Corporation (FDIC) issued another round of cease-and-desist letters demanding that companies stop making false and misleading statements regarding deposit insurance coverage....more
On January 5, 2023, a bill was introduced in the Missouri legislature that would require non-depository financial institutions to provide disclosures at or before consummation of certain commercial financing products....more
On March 7, 2022, a fintech filed a lawsuit in California state court asking the court to declare that an interest rate limit under the California Financing Law (CFL) does not apply to the short-term consumer loans made by an...more