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Department of Education Anti-Arbitration Regulation Fails Supreme Court Tests

CFPB Monitor

Department of Education recently announced proposed regulations designed to expand and improve the major student loan discharge programs authorized by the Higher Education Act. But that is precisely what the Department’s proposed regulations would do. The Department’s proposed regulation constitutes administrative overreach.

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U.S. Supreme Court’s invokes “major questions doctrine” to invalidate EPA regulation: what are the potential implications for the consumer finance industry?

CFPB Monitor

In West Virginia et al. When an agency seeks to regulate a significant portion of the American economy. When an agency seeks to regulate an area that is traditionally regulated by state law. Environmental Protection Agency et al. ,

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Time Tried, Panic Tested. The Forgotten Story of the First National Bank of Keystone

Jeff For Banks

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. The bank, First National Bank of Keystone, was $1.1 billion in assets.

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NJ Online Gaming Revenue Set To Grow 66 Pct This Year

PYMNTS

That is said to be a sign that the open-armed tack of the state to regulating as well as legalization different types of gambling has spurred widespread growth per an iDevelopment & Economic Association report. Online casinos’ monthly revenue more than doubled in the 15 months following the rollout of sports betting in June of last year.

NJ 131
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What SEC Filers Have Learned About CECL Implementation

Abrigo

Regulators, investors, and other stakeholders will be watching and listening for updates on the impacts of the accounting change. Be willing to change as needed. . All eyes will be on the large SEC registrants in January as they become the first financial institutions to adopt the current expected credit loss model , or CECL.

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Vaccine Distribution Hits Snags; CVS And Walgreens Caught In Crossfire

PYMNTS

Further complicating matters, the distribution of vaccines over the last mile is largely determined and regulated by the state. The net result is that Maryland has distributed 46 percent of doses, well below the national average of 53 percent. But it's not all bad news.

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

The rules provide that a loan made by a national bank, federal savings association, or federally-insured state-chartered bank that is permissible under applicable federal law (Section 85 of the National Bank Act (NBA) or Section 27 of the Federal Deposit Insurance Act (FDIA)) is not affected by the sale, assignment, or other transfer of the loan.