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CFPB Updates 2020 Complaint Bulletin and Again Focuses on COVID-19 Related Complaints

By Richard J. Andreano, Jr. on July 20, 2020

Posted in CFPB, COVID-19, Credit Cards, Mortgages, Regulatory and Enforcement

On July 16, 2020, the Consumer Financial Protection Bureau (CFPB) issued an updated 2020 Complaint Bulletin and again focused on complaints related to COVID-19.

The Complaint Bulletin reflects 2020 consumer complaint data through June 15, 2020, and focuses on complaints filed through May 31, 2020 that mention COVID-19 keywords. Of the 187,547 complaints received in 2020, 8,357 included a COVID-19 keyword.… Continue Reading

OCC moves to dismiss state regulators’ second lawsuit opposing fintech charter

By Alan S. Kaplinsky on January 9, 2019

Posted in Fintech, OCC, Regulatory and Enforcement

The OCC has filed a motion to dismiss the lawsuit filed in D.C. federal district court in October 2018 by the Conference of State Bank Supervisors (CSBS) to stop the OCC from issuing special purpose national bank (SPNB) charters to fintech companies.

The CSBS had previously filed a lawsuit challenging the OCC’s authority to grant SPNB charters to fintech companies at a time when the OCC had not yet decided whether it would move forward on its charter proposal. … Continue Reading