In an interesting coincidence, the comment period for the CFPB’s Request for Information (“RFI”) on mobile financial services closed the same day, September 10th, that Apple announced “Apple Pay”—a new mobile wallet included with the iPhone 6 that could shake up the mobile payments landscape.
On September 11, 2014, in a sharply worded order that will give heart to the FDIC’s many other failed bank litigation targets, Eastern District of North Carolina Judge Terrence Boyle, applying North Carolina law, granted the summary judgment motion of the former directors and officers of the failed Cooperative Bank of Wilmington, N.C., in the lawsuit the FDIC had filed against them in its capacity as the failed bank’s receiver.
In case you haven’t heard “Let Her Go” by UK musician Passenger (aka Mike Rosenberg), have a listen. It is one of those catchy, toe-tapping songs that has attracted nearly 400 million hits on YouTube.com.
Paul Fitzgerald and Tracey Kernahan have produced a client update on the announcement by the Minister of Finance that the provinces of British Columbia, Ontario, Saskatchewan and New Brunswick and the Canadian federal government have signed a memorandum of agreement formalizing the terms and conditions of a cooperative capital markets regulatory system.
On September 10, Congresswoman Maxine Waters released a draft proposal entitled “Fair Credit Reporting Improvement Act of 2014” that, if passed, could lead to fundamental changes in the credit reporting industry.