In today’s podcast, which repurposes a recent webinar, we examine the impact, if any, of a landmark opinion rendered by Judge Daniel Domenico of the Federal District Court for the District of Colorado in a case challenging recently enacted Colorado legislation on interstate loans made from outside Colorado to Colorado residents.… Continue Reading
banks
In finding no National Bank Act Preemption, Ninth Circuit Ignores Supreme Court Directive in and Pays Lip Service to Cantero v. Bank of America Opinion Regarding NBA Preemption
In a surprising quick turn of events, on remand from SCOTUS, the 9th Circuit, on August 23, 2024, issued its unanimous unpublished panel opinion in Kivett v. Flagstar Bank, FSB (Kivett II) in which it essentially re-affirmed its earlier panel opinion holding that there is no preemption of a California state law which requires the payment of 2% interest on residential mortgage escrow accounts.… Continue Reading
This Week’s Podcast: Why do Fintechs Want to Become Banks?
By Alan S. Kaplinsky on
Posted in Fintech
A great number of fintechs are contemplating owning a bank or obtaining a banking charter—either a national bank charter, a state bank charter or a special purpose charter. In this episode, we are joined by our special guest Michele Alt, co-founder and partner of Klaros Group, an investment and advisory firm, and Scott Coleman, a partner in our Consumer Financial Services Group who leads our banking practice.… Continue Reading
Senators introduce bill to increase “large bank” asset threshold for CFPB supervision
By Barbara S. Mishkin on
Posted in CFPB Exams, Regulatory and Enforcement
A bipartisan bill (S. 2732) has been introduced by Republican Senator Pat Toomey and Democratic Senator Joe Donnelly to increase the asset threshold for “large banks” that are subject to CFPB supervision.
The current threshold is total assets of more than $10 billion. Entitled the “Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2014,” the bill would increase the current threshold to assets of more than $50 billion. … Continue Reading