The Consumer Financial Protection Bureau (CFPB) rule requiring lenders to gather demographic information about small business borrowers has leapt another legal hurdle. A federal judge rejected a banking industry-backed challenge that argued that the rule’s data collection method was flawed, Reuters reported Monday (Aug. 26).
Anton Ewing is making a ton of noise in TCPAWorld right now. Fresh off a huge $78k default judgment win last week, Ewing is back again to start this week with a smaller–but still significant– $31k+ victory in a suit involving just 6 phone calls.
As we move into the second half of the year, executives may brace for the unexpected. Recent years have brought significant market swings, pandemics and geopolitical instability, each posing unique challenges and opportunities. As CEO of Amount, a software as a service (SaaS) deposit origination, lending and decisioning platform partnering with banks and credit unions, I understand the wild cards that could impact our industry. It’s crucial for Amount and other FinTechs to stay vigilant, dynamic and innovative to best serve financial institutions.
The National Credit Union Administration today announced the retirement of Cherie Freed, regional director of the NCUA’s Western Region, effective August 24, 2024.
We have previously blogged about how targets of CFPB enforcement actions have asserted that the actions must be dismissed because the investigations were conducted and the lawsuits were brought and are being prosecuted with funds unlawfully obtained from the Federal Reserve Board at a time when the Federal Reserve System had no combined earnings.
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