It has been a little less than a year since the Consumer Financial Protection Bureau announced its intentions to examine the institution of small-dollar, short-term lending — of course, with an eye toward new regulations aimed at reining in the worst abuses associated with it....
In a shot across the bow that hints at a battle between the states and the Consumer Financial Protection Bureau, several Republicans and other lawmakers have said the bureau should not try to short circuit state laws with a pending proposal centered on payday loans....
The CFPB is not overly fond of payday lenders — a category of financial services that, in fairness, almost no one really likes because there is something unseemly about high-interest lending. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
On Thursday (Feb. 4), the United States House of Representatives voted to end the Obama administration’s “Operation Choke Point.” Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
The Federal Reserve Board announced on Friday (Feb. 5) that it has levied a $131 million penalty against HSBC North America Holdings and HSBC Finance Corp. tied to deficiencies in residential mortgage loan services and foreclosure processing. The board said in a statement that the penalties...
In news the team at Samsung doubtlessly find karmically appropriate, a jury has found that Apple must pay $626 million in damages for patent infringement connected to iMessage, FaceTime and other Apple software. Get the Full Story Complete the form to unlock this article and...
In its latest address, the CFPB has urged banks to improve checking account access by offering lower risk, lower cost checking account options. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
The dealer reserve — the process by which auto dealers who act as middlemen in auto lending add to the interest rate assessed by the loan underwriter before passing it on to a borrower — has just suffered another blow. Get the Full Story Complete the form...
Anti-money laundering activist group Global Witness has recently released a report that indicates that a surprising number of New York real estate lawyers are making a nice little business for themselves advising clients on how to move suspect money into the United States. In fact, the report indicates,...
