The long-awaited Tenth Circuit Court of Appeals decision in the case of Fourth Corner Credit Union v. Federal Reserve Bank of Kansas City was issued this week. In short: the would-be credit union, formed to serve participants in the state-legal
While the future of health care legislation has been dominating headlines, some quiet but important developments in Washington regarding the future of federal financial regulation have also been taking place. These developments do not significantly clarify the path forward; much
On June 12, 2017, the United States Supreme Court held that a buyer of defaulted consumer debt was not subject to the Fair Debt Collection Practices Act (“FDCPA”). The question of whether such debt buyers fit within the FDCPA’s definition
On May 24, the U.S. Court of Appeals for the D.C. Circuit heard oral arguments in the case of PHH vs. CFPB. The case, arising out of a CFPB enforcement action under the Real Estate Settlement Procedures Act (RESPA), also
NetSpend Corporation (NetSpend) recently agreed to settle with the Federal Trade Commission (FTC) regarding allegations that NetSpend deceived consumers about certain aspects of NetSpend’s reloadable prepaid cards. NetSpend will pay $40 million in restitution to customers and $13 million to
On May 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced steps toward issuing regulations to impose data reporting requirements on the small business lending industry, a rulemaking required under the Dodd-Frank Act of 2010. To help it draft a
As the battle over the Office of the Comptroller of the Currency (OCC)’s proposed financial technology (“fintech”) charter continues, investors in fintech companies should consider what it would mean for their business strategies if fintech companies actually did become
Since the expiration in April of Thomas J. Curry’s term as Comptroller of the Currency, it has remained unclear who would be tapped to replace him. Until today.
The Office of the Comptroller of the Currency (OCC) has announced that
