The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small
Financial
California DFPI issues proposed regulations on consumer complaints and inquiries
The California Department of Financial Protection and Innovation (DFPI) has issued proposed regulations to implement provisions of the California Consumer Financial Protection Law (CCFPL) pertaining to consumer complaints and inquiries. Comments are due by July 5, 2022
Specifically, the CCFPL…
CFPB Targets Student Loan Debt Relief Scam Reboot
Funding a Credit Crunch: How Litigation Finance Has Fueled Global Actions Against Visa and Mastercard
Mastercard and Visa are no strangers to legal action, having endured class actions and legal challenges all over the world. Currently, a collective action funded by Bench Walk Advisors accuses the credit giant of illegally overcharging Multilateral Interchange Fees (MIFs)…
The Valuation Hints Are There: Good Financial Investigators Follow Them Up
When people come to us for financial investigations, it’s rare that the information they are seeking is right out in the open. But sometimes, the values are not very far under the surface.
When the hints are there, it can…
Omni Bridgeway APAC Leadership Developments
Omni Bridgeway (ASX:OBL), the world’s largest legal risk finance and management team, is pleased to announce new appointments in its Asia Pacific leadership team.
Managing Directors and co-Chief Investment Officers (APAC)
Oliver Gayner (Sydney) and Tom Glasgow (Singapore) assume new…
California lawmakers urge FDIC to rein in bank partnerships
Four Democratic members of the California state legislature recently sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency to take action against FDIC-supervised banks that partner with non-bank lenders to originate high-cost installment loans.
Two of…
FCA Guidance Consultation 22/2 ‘Branch and ATM closures or conversions: Updated guidance for firms’
On 14 June 2022, the FCA published Guidance Consultation 22/2 ‘Branch and ATM closures or conversions: Updated guidance for firms’ (GC22/2). In GC22/2 the FCA proposes to update the current guidance on branch and ATM closures or conversions (Finalised Guidance…
EBA final report on guidelines on policies and procedures in relation to compliance management and the role and responsibilities of the AML/CFT compliance officer
On 14 June 2022, the European Banking Authority (EBA) published a final report containing draft guidelines setting out expectations of the role, tasks and responsibilities of the anti-money laundering / countering the financing of terrorism (AML/CFT) compliance officer and the…
Draft SI: The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022
On 14 June 2022, HM Treasury made The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022.
The draft statutory instrument makes consequential changes as a result of the…