CFPB Monitor

SEPTEMBER 10, 2020

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

JUNE 15, 2022

Four Democratic members of the California state legislature recently sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency to take action against FDIC-supervised banks that partner with non-bank lenders to originate high-cost installment loans.

FDIC 78

FDIC California West Virginia North Carolina 78

CFPB Monitor

MAY 16, 2019

Senator Bernie Sanders recently announced that he will be introducing a bill, the “Loan Shark Prevention Act ,” that would amend the Truth in Lending Act (15 U.S.C. It would roll back the usury laws to those that existed more than 40 years ago when banks were not engaging in much interstate lending because of such restrictive usury laws.

Pennsylvania 87

Pennsylvania Lending Omaha National 87

Gonzobanker

DECEMBER 19, 2024

The FDIC’s Rule Proposal would end a common banking-as-a-service practice that allows banks to count deposits originated by financial technology partners as core and require them to classify the funds as brokered. Barb deservedly decided to retire in April after more than 23 years at PSECU. billion in 2001 to $8.2 billion today.

Fraud 88

Fraud Fintech Marketing Industry 88