CFPB Monitor

AUGUST 7, 2019

In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” Illinois Department of Financial Professional Regulation. Maryland Office of the Commissioner for Financial Regulation.

Industry 92

Industry Puerto Rico South Dakota North Dakota 92

CFPB Monitor

OCTOBER 17, 2022

3) grants Congress the power “[t]o regulate Commerce. Companies that engage in cross-border lending should continue to closely monitor decisions involving the dormant Commerce Clause since the law in this area continues to evolve. The Commerce Clause (U.S. I, § 8, cl. The same could be said here. Also, just last week, the U.S.

Indiana 78

Indiana Minnesota Pennsylvania South Dakota 78

PYMNTS

JUNE 24, 2016

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending .

Lending 101

Lending Online South Dakota North Dakota 101

PYMNTS

NOVEMBER 20, 2017

What’s more, in South Dakota, a borrower’s driver’s license can be suspended, which makes it close to impossible for them to get to work. That’s according to a news report in CNBC that found that in 19 states, government agencies can take away student loan borrowers’ licenses if they default on their debt.

South Dakota 129

South Dakota Tennessee New York Taxes 129

Independent Banker

FEBRUARY 24, 2016

Talk about your captive regulator! Even more obviously absurd, one provision would allow community credit unions in seven states—Montana, Alaska, Delaware, North Dakota, South Dakota, Vermont and Wyoming—to serve their entire state. When credit unions say “jump,” the NCUA says, “how high?”.

South Dakota 70

South Dakota North Dakota Montana Wyoming 70

CFPB Monitor

SEPTEMBER 9, 2020

Our letter draws on Ballard Spahr’s two-plus decades of experience in representing banks and savings associations (“Banks”) in establishing lending programs (“Bank-Agent Programs”) where a Bank obtains substantial assistance from a fintech or other non-Bank company (an “Agent”) to offer Bank loans to consumers or small businesses.

FDIC 78

FDIC National South Dakota Lending 78

American Banker

NOVEMBER 4, 2020

Referendums that legalized marijuana and sports wagering in several states could incentivize banks to do business with companies in these sectors. Payday loan and privacy measures that passed Tuesday also have implications for the industry.

Industry 78

Industry South Dakota Company Nebraska 78