Federal Court Halts Massachusetts Emergency Debt Collection Regulation
Attorney General Maura Healey’s consumer protection push has run into a legal roadblock after a federal judge granted a temporary restraining order.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Fed’s Main Street Lending May Dodge PPP’s Pitfalls
The Federal Reserve Board continues to focus on small- to medium-sized businesses as part of its ongoing efforts to maintain the U.S. economy in the wake of the COVID-19 global pandemic.
Dodd-Frank Set Banks Up to Help in Coronavirus Crisis
With stock markets declining and businesses closing, banks and credit unions last week began announcing programs to help customers with financial difficulties resulting from the coronavirus outbreak.
FFIEC Highlights Pandemic Preparedness Guidance
All organizations – whether or not a provider of critical financial services – should have in place business continuity plans that take pandemics into account.
FDIC’s Approval of First Fintech Application Has Significant Implications
Recent developments highlight the FDIC’s support of financial innovation given the embrace of innovation by other federal regulators like the OCC, CFPB and Federal Reserve, and lay the groundwork for increased regulatory cooperation among the major federal financial regulators.
The Benefits (and Risks) of Using Alternative Data in Credit Underwriting
When compared to traditional credit scores and attributes, cashflow-based metrics appear to predict creditworthiness within the subpopulations at least as well as the traditional metrics.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Fintech Continues to Offer Strategic Challenges
A decade that began with the banking industry in the midst of the financial crisis will close with the arrival of technology innovations that have transformed bank operations and consumer expectations.
Can Hurdles to Stablecoins be Safely Addressed?
Although Libra’s launch may be delayed indefinitely, it has nevertheless sparked a serious debate among central bankers, economic policymakers and lawmakers about the future role of stablecoins as an alternative to fiat currencies.
Personnel File
Members of the banking, legal and real estate worlds were on the move, recently. See who’s been promoted and who’s been hired!
Major Regulatory Relief at CFPB Shows Ambitious Embrace of Financial Innovation
Over the last two months, major changes at the Consumer Financial Protection Bureau demonstrate that the agency is aggressively taking steps to promote financial innovation in the consumer financial services space.
Battery Wharf Hotel Responds to CLF Complaint
An attorney for Boston’s Battery Wharf Hotel condo owners acknowledges some inadvertent violations of public access and programming and said the property “has been and continues to be welcoming of the public.”
Financial Institutions Must Be Gatekeepers in Fight Against Fraud
Companies are under attack. The FBI reports that internet-enabled theft, fraud, and exploitation accounted for a stunning $2.7 billion in financial losses in 2018 alone, almost double the loss amount for 2016.
Personnel File
Members of the banking, real estate and construction industries were all on the move recently. See who’s been hired and promoted.
Facebook’s Libra Offers More Questions Than Answers
It is an open question whether financial regulators will sign off on Facebook’s plan for a new cryptocurrency, a question made far more complex by the fact that the firm is already at odds with consumer advocates, data protection authorities and antitrust regulators here and abroad.
Personnel File
Members of the banking, legal and real estate industries were on the move in recent weeks. See who’s been hired and promoted in this week’s Personnel File.
As Regulatory Sandboxes Expand, the OCC Takes a Different Approach to Innovation
A new pilot program is designed to allow OCC-regulated entities a voluntary opportunity to engage in developing innovative products or services where there is significant regulatory uncertainty.
Changes to the Massachusetts Data Privacy Law: What it Means for You
Companies still have time to investigate an incident, but once they have determined a data breach has occurred, they must alert any individuals whose data they know was involved without waiting to figure out who else had data involved.
The Country’s Payments System Is at a Crossroads
The Clearing House (TCH) last month released business principles outlining the operation of its real-time payments network, which it launched in November 2017 and is the only one in the country.
