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Lawsuits can be costly and time-consuming for all parties, so many plaintiffs’ attorneys are now trying to win quick settlements for their clients by bombarding banks with letters simply threatening them with lawsuits. One plaintiffs’ attorney admits to sending 250 such letters a month.

Top Stories

The Office of the Comptroller of the Currency faces a challenging task as it attempts to add financial inclusion requirements to its pending fintech charter without following the exact blueprint of the Community Reinvestment Act.  more »
The new chairman of Republic First was famously ousted from Commerce Bancorp because of conflict-of-interest concerns years ago. His new bank uses some Hill-related companies for marketing and other services but says that it has structured the relationship in a way that passes muster with regulators.  more »
Already defending itself against a lawsuit challenging its member business lending rule, the credit union regulator now must grapple with a challenge to field-of-membership regulations. Some observers suggest the scope of the legal approach is unprecedented.  read more »
The Dodd-Frank Act allows the Consumer Financial Protection Bureau to litigate its own cases independently of the Department of Justice — except before the Supreme Court. If the landmark PHH v. CFPB case makes it that far, how will a Trump Department of Justice respond?  read more »
FinTech Forward
The education-finance sector would have likely faced a challenging policy landscape under a Clinton administration. But its future is looking particularly bright now that Republicans are firmly in control in Washington.  read more »
The veteran banker, who is taking the nonexecutive chairman post at Republic First Bancorp in Philadelphia after a long hiatus from the U.S. market, stands by the model he pioneered at Commerce despite a much-changed environment.  read more »
The president of the Kansas City Fed is best known for her dissenting votes on monetary policy, but that's not the only way she stands out. Her background as a farmer and former bank examiner gives her a unique perspective among Fed officials.  read more »
Podcast
In this episode of Breaking Banks: American Banker's Innovator of the Year, John Hope Bryant of Operation Hope; Richard Brown and Charley Cooper of the blockchain consortium R3; and Ravi Srinivasan, who describes India's drastic move to stamp out cash.