By Shannon McNeal and Bradford Hardin on Posted in Regulatory and ComplianceEarlier this month, the Federal Deposit Insurance Corporation (FDIC) published a Request for Information (RFI) seeking public comment on issues related to small-dollar lending by FDIC-supervised financial institutions. Specifically, the RFI solicits comments about “consumer demand for small-dollar credit products, the supply of small-dolla… Read the rest
By Karen Ross on Posted in Regulatory and Compliance
The Federal Deposit Insurance Corporation (FDIC) recently released a letter clarifying its policy and supervisory approach for financial institutions that provide services to payment processors who, in turn, provide services to merchants engaged in high risk activities. In summary, the brief letter assures FDIC-supervised banks and savings assoc… Read the rest
Our Payments Team addresses changes and continuities in the payments industry every day—leveraging our many years of industry experience and our presence on both coasts and in China. On paymentlawadvisor, we offer commentary on new developments that seem particularly significant, as well as resources that we believe can be helpful to others who are tasked with anticipating, understanding and addressing these developments.