California Dept. of Financial Protection and Innovation responds to OppFi’s attempt to block “true lender” challenge to loans made through bank partnership
NY Dept. of Financial Services issues overdraft/NSF fee guidance
Bank/nonbank partnerships could face CFPB scrutiny
CFPB scraps no action letter and compliance assistance sandbox programs and creates new Office of Competition and Innovation
OppFi asks court to reject California Department of Financial Protection and Innovation’s “true lender” challenge to loans made through bank partnership
Divided Tenth Circuit panel rules national bank’s extended overdraft fee are not “interest” under the NBA
CFPB updates examination manual to use UDAAP authority to target discriminatory practices, including those involving non-credit products or services
Bill to impose 36% rate cap passes New Mexico House and Senate
CFPB issues compliance bulletin on application of EFTA compulsory use prohibition to government benefits
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