State regulators

The student loan company had said a three-year-old lawsuit alleging consumer abuses was superseded by a similar CFPB suit. Here’s why the 3rd U.S. Circuit Court of Appeals disagreed.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

The two institutions are part of the continuing trend of federally chartered credit unions converting to state charters in a push for greater flexibility and membership growth.

The Boulder-based institution can now serve consumers across 16 different counties, or more than 88% of the state's population.

Among other changes, the law allows state regulators to accept NCUA examination results in lieu of exams from local regulators.

Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The Conference of State Bank Supervisors says parts of the plan are an overreach, while the agency should think twice about developing the proposal during the coronavirus pandemic.

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

The state's Division of Banking, led by a former bank CEO and trade group chief, blocked GreenState CU's move to buy seven branches from First American Bank. It's the second time this year regulators have halted a credit union-bank deal.

Payday lenders have long used bank partnerships and similar means to circumvent state interest rate caps. Lawmakers should stop such practices now.

The Colorado Banking Board may be the first regulator to ever block a credit union-bank merger.

Colorado's State Banking Board voted 6-1 to stop Elevations Credit Union from buying Cache Bank & Trust. This is believed to be the first time regulators have blocked such a deal.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

The Bay State is the latest to push its lawmakers to modernize how CUs do business in order to help state charters remain competitive with federal charters.

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.