Search for: "State in Interest of DF"
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7 Aug 2019, 3:40 pm
” The DFS states that the investigation will focus on “whether companies are in violation of state banking laws, including usury limits, licensing laws and other applicable laws regulating payday lending and consumer protection laws. [read post]
7 Jun 2021, 12:24 pm
As a result, there was currently no non-depository fintech that could claim federal preemption and thereby engage in any practice that might give rise to the regulatory harms alleged by DFS, such as charging interest above New York’s usury cap. [read post]
9 Feb 2018, 4:46 am
” The information in the DFS report must include the following: An analysis of online lenders presently operating in New York, including “the common means and methods of their operations, and business,” lending practices of the online lending industry, including disclosure practices, interest rates and costs charged, the primary differences between online lending products and services and those offered by traditional lending institutions, the risks and… [read post]
28 May 2013, 6:21 am
Institutions outside New York may also want to monitor DFS’s initiatives, which may pique the interest of federal or state law enforcement and regulatory agencies in other jurisdictions and lead to similar or parallel initiatives. [read post]
25 Jul 2022, 8:29 am
Interested parties can register here. [read post]
28 Feb 2019, 11:48 am
DFS Lawsuit. [read post]
7 Dec 2015, 2:04 pm
Candidate 2016, Pace Law School The mission of the New York State Department of Financial Services (DFS) is “to reform the regulation of financial services in New York to keep pace with the rapid and dynamic evolution of these industries, to guard against financial crises and to protect consumers and markets from fraud. [read post]
New York denies Bittrex a virtual currency license and orders it to cease doing business in New York
15 Apr 2019, 7:34 am
The DFS stated that Bittrex “had not indicated its agreement” to comply with these capital requirements. [read post]
23 Jan 2014, 8:35 am
Affirmed.Case Name: IN THE INTEREST OF LB, BO, KO, Minors, STATE OF WYOMING, DEPARTMENT OF FAMILY SERVICES v. [read post]
21 Mar 2018, 9:41 am
The letter states that the DFS is conducting the survey to gather information for a public report that it is required to issue by July 1, 2018 and which must include information about online lenders operating in New York and their business practices, including lending practices, interest rates and costs charged, and consumer complaints and investigations about the industry. [read post]
12 Oct 2021, 1:59 pm
While the prospects for DFS in New York look dim, interested parties will ultimately have to monitor imminent developments to learn of the next chapter in this ongoing saga. [read post]
14 May 2018, 10:58 am
It’s been predicted that as many as 32 states are interested in legalizing sports gambling. [read post]
2 Jan 2024, 9:53 am
New York DFS Signs Another Consent Order: This Time with AXA XL for DMV Reporting ViolationsOn December 15, 2023, New York State Department of Financial Services (DFS) entered into a Consent Order (Order) with AXA XL, including affiliate companies (XL Specialty Insurance Company, for itself and as successor in interest to Catlin Indemnity Company, Coliseum Reinsurance Company, as successor in interest to AXA Insurance Company, XL Insurance America, Inc. [read post]
26 Oct 2016, 12:47 pm
Then, DFS exploded last year spurring increased NFL interest and TV viewership. [read post]
15 May 2017, 10:00 am
The consent order resolved the investigation by DFS, which found that FIP made loans in New York State without a lending license, charged a usurious rate of interest on loans to New York pensioners, transmitted money to and from New York State without a money transmitter license, misrepresented to New York pensioners the legal status of the transactions by characterizing the loans as sales of an asset, and omitted the annual percentage rate of the loans. [read post]
23 Jul 2018, 6:39 am
In the New York State Department of Financial Services (DFS) Press Release, the DFS noted that the “best interest” amendments are intended to “fill in regulatory gaps to protect New York consumers from the elimination of the federal Department of Labor’s Conflict of Interest Rule, which the Trump Administration failed to protect on appeal after a ruling from the U.S. [read post]
13 Dec 2017, 3:28 pm
Nevertheless, the court suggested “that it would be sensible for the OCC to provide DFS with notice as soon as it reaches a final decision given DFS’s stated intention to pursue these issues and in consideration of potential applicants whose interests would be served by timely resolution of any legal challenges. [read post]
29 Jul 2020, 2:36 pm
It asserts that injury to DFS’s sovereign interests is not speculative and sufficiently impending to support both standing and ripeness because (1) the OCC has actively invited and solicited the fintech industry to apply for charters and has represented that companies had begun the application process, and (2) one of the OCC’s stated objectives in deciding to accept applications is to allow fintech companies that receive an SPNB charter to escape… [read post]
15 May 2018, 6:00 am
(Ok, we thought it was an interesting topic.) [read post]
9 Oct 2017, 7:04 am
New York State Governor Andrew Cuomo and the New York State Department of Financial Services (“DFS”) have been busy on the cybersecurity front. [read post]
