Podcast: Red Flags for ‘Money Mule’ Scams
Amid the coronavirus pandemic, cybersecurity and fraud analysts have noted an uptick in “money mule” scams. Banks increasingly need to be on the lookout for the telltale signs of these scams.
Browsing: Legal
ABA Appeals Credit Union Field of Membership Case to Supreme Court
ABA this week petitioned the U.S. Supreme Court to review a lower court ruling in the association’s challenge of the National Credit Union Administration’s 2016 field of membership rule.
Regulatory Power in the Crosshairs at the Supreme Court
The high court electrified its docket by deciding to hear two cases on the Consumer Financial Protection Bureau’s leadership structure and the Securities and Exchange Commission’s enforcement power.
More State Privacy Laws Are Coming. Are You and Your Vendors Prepared?
If you’re in one of the states considering legislation like the California Consumer Privacy Act, or something similar, here are three places to start.
ABA Welcomes FDIC’s Proposal to Codify ‘Valid When Made’ Principle
ABA today expressed support for the FDIC’s proposal to codify that permissible interest on loans made by state-chartered banks and insured branches of foreign banks remains valid when a loan is transferred or sold.
A Surge of Support for ‘Valid When Made’
Signs of moxie from the OCC and FDIC? The agencies are wading into the preemption waters to defend the “valid when made” doctrine.
FDIC Votes to Codify ‘Valid-When-Made’ Principle
Following action by the OCC yesterday, the FDIC proposed a rule stipulating that interest rates valid when the loan is made by a bank remain valid when the loan is transferred or sold.
OCC Proposes to Codify ‘Valid-When-Made’ Principle
Providing a long-awaited regulatory solution to court rulings challenging the principle, the OCC today proposed that interest rates valid when the loan is made by a national bank or federal thrift remain valid when the loan is transferred or sold.
Deference Unsettled
The Supreme Court’s unsatisfying ruling in Kisor v. Wilkie may spark inconsistent application and cause circuit splits. Auer deference is anything but settled.
Federal Judge Blocks OCC’s ‘Fintech Charter’
A federal judge in New York yesterday blocked the OCC from issuing charters to non-depository special-purpose national banks, as the agency first proposed to do in 2016.