On June 20, Nissan North America’s financial services arm, Nissan Motor Acceptance Corp. said it submitted an application with state and federal regulators to form...
In recent months, nonbanks have been applying for banking charters. Against a backdrop where de novo activity has been muted through the past several years,...
Lending to nonbank entities like buyout firms and private credit outfits has topped $1 trillion. As the Financial Times (FT) reported Monday (May 19), this trend is...
Wednesday’s (March 5) actions in Congress against two Consumer Financial Protection Bureau (CFPB) rules — one governing digital payments providers, the other focused on bank...
Two rules announced by the Consumer Financial Protection Bureau (CFPB) during the Biden administration suffered setbacks in Congress on Wednesday (March 5). The Senate voted...
Through the past several weeks and months, the drumbeat’s grown louder for regulations at the federal level to govern nonbanks — especially FinTechs, neobanks and...
A federal regulatory framework for nonbank payment service providers is needed to reduce risks and promote innovation, Nellie Liang, under secretary for domestic finance at...
The Federal Deposit Insurance Corp.’s (FDIC) recent proposal on recordkeeping for bank deposits received from third-party, nonbank companies is a step in the right direction....
They say there are no guarantees in life. That sentiment applies to financial services — at least depending on where you look, or what promises...