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The legislation, which would apply to both banks and nonbanks, would give borrowers the right to sue for damages when servicing violations occur.
August 28 -
The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.
August 26 -
A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.
August 18 -
A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.
August 14 -
A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.
August 12Amount -
The company falsely advertises its cash advances as requiring no collateral or personal guarantee, according to a lawsuit filed by the Federal Trade Commission.
August 3 -
The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.
July 31 -
Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering a narrow-purpose payments charter.
July 30 -
The complaint filed by New York, California and Illinois argues that the regulation, issued in response to the 2015 Madden decision, undermines state laws intended to protect consumers.
July 29 -
Two trade organizations and a consumer group urged lawmakers to establish a three-year moratorium to block the charter bids of companies that they said were attempting to skirt regulatory requirements.
July 29