Bank Law Monitor
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No Credit History, No Problem: CFPB Ponders Novel Credit Scoring Ideas
Last month, the CFPB issued a Request for Information (“Request”) to identify potential ways to increase credit access for underserved segments of the population. In particular, the CFPB noted that certain groups of individuals lack enough credit his...
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The Future of the CFPB Under the Trump Administration
Update (2/16/17): The U.S. Court of Appeals for the District of Columbia granted the CFPB's request to reconsider its earlier ruling with respect to the President's ability to remove the Director of the CFPB. This ruling provides a glimmer of h...
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The Tension Between Financial Institutions and Recreational Marijuana Businesses
To date, eight states and the District of Columbia have legalized recreational marijuana. As you might expect, there are countless key players and businesses involved in the marijuana supply chain, including producers, processors, transporters, retai...
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Continued Uncertainty Regarding Proof of Water Availability Necessary to Obtain a Permit Follows Whatcom County v. Hirst
Last October in Whatcom County v. Hirst, the Washington Supreme Court held that each county must ensure that there is an adequate water supply before it approves a project permit. The Hirst decision upset the existing process by which a county would...
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Is High Noon Coming for Fintech Regulation? State Regulators Prepare to Do Battle Over the OCC's Special Charter Proposal
In the wild west of fintech, state banking regulators have been called to act as the keepers of the peace and the primary enforcers of the law. That is, until the Office of the Comptroller of Currency (OCC) offered to become the new sheriff in town....
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How Does Washington's New Power of Attorney Statute Impact Banks?
Washington has adopted the Washington Uniform Power of Attorney Act (“The Act”) which becomes effective on January 1, 2017 (ESSB 5635). The Act completely replaces Washington’s current law and has some key differences that need to be considered when...
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