WASHINGTON, D.C. — The Solicitor General filed a brief with the U.S. Supreme Court on Monday in Consumer Financial Protection Bureau v. Community Financial Services Association of America defending the constitutionality of the CFPB’s funding through the Federal Reserve Board. In a statement released today, Consumer Reports voiced its support for the independent funding of the Consumer Financial Protection Bureau, which is being challenged by the payday loan industry.
Two months ago, Silicon Valley Bank and Signature Bank failed. Most Americans had never heard of these two banks. While they weren’t massive megabanks, the actions taken by the federal government make it clear that their failure had far-reaching consequences for the broader financial system.
American Banker, Arizent’s essential resource for senior executives in financial services, has published its inaugural list of finalists for the Innovators of the Year award. The new program honors people who are leading innovation across banking and financial technology, setting the course for the industry's future. The inaugural list of finalists includes 20 leaders from organizations that vary in size and business concentration.
In Ward v. NPAS, Inc., 63 F.4th 576 (6th Cir. 2023), Plaintiff Ward did not pay as agreed for medical services, and the medical center sent his unpaid bills to a third-party collector, NPAS, Inc. (NPAS). In trying to collect the amount due, NPAS left Ward three voicemails. Ward sent a cease and desist letter after he received the second voicemail, but he sent it to the wrong company and therefore, NPAS did not receive it.
NEW YORK – New York Attorney General Letitia James today announced landmark legislation to tighten regulations on the cryptocurrency industry to protect investors, consumers, and the broader economy. The multi-billion-dollar industry lacks robust regulations, making it prone to dramatic market fluctuations, and has been used to hide and facilitate criminal conduct and fraud. Attorney General James’ program bill, which proposes the strongest and most comprehensive set of regulations on cryptocurrency in the nation, would increase transparency, eliminate conflicts of interest, and impose commonsense measures to protect investors, consistent with regulations imposed on other financial services.
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