Ep42 - Impact of Recent Regulatory Enforcement Actions on Bank-Fintech Partnerships
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Securitization Insight Ep 42: Impact of Recent Regulatory Enforcement Actions on Bank-FinTech Partnerships https://www.nortonrosefulbright.com/en-us/people/1018118, senior counsel in our https://www.nortonrosefulbright.com/en-us/locations/washington-dc office, joins host https://www.nortonrosefulbright.com/en-us/people/1011359 to discuss the https://www.fdic.gov/’s (FDIC) recent Consent...
show moreEamonn Moran, senior counsel in our Washington, DC office, joins host Patrick Dolan to discuss the Federal Deposit Insurance Corporation’s (FDIC) recent Consent Order relating to Cross River Bank (CRB) and its partnership with FinTech firms. The Consent Order is intended to resolve charges that CRB engaged in unsafe or unsound practices related to its fair lending compliance.
We examine key provisions of the Consent Order and actions the FDIC requires CRB to take to comply, including how the FDIC defines “new credit products.” We discuss whether we anticipate this to be part of a wider investigation and whether the FDIC will issue similar consent orders to other banks involved in the FinTech partnership space.
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Author | Norton Rose Fulbright |
Organization | Norton Rose Fulbright |
Website | - |
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