Weekly Regulatory Deadlines | Mar 13 to Mar 19
Rules Concerning Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z)
CFPB | Lending, Deposits, Payments | Final Rule
Chase Launches Low-Cost Accounts To Win Unbanked Consumers
The percentage of unbanked people in the U.S. recently fell to the lowest rate since the 2007-2009 financial crisis, but a new product launch from JPMorgan Chase & Co. underscores the fact that tens of millions of U.S. households remain unbanked. The financial institution on Monday (March 18) “began offering checkless accounts with access to...
DealBook Briefing: Inside Trump and Deutsche Bank's Checkered History
The New York Times 03/19/2019
President Trump has long enjoyed the backing of one major lender: Deutsche Bank. David Enrich of the NYT has taken a deep look into their often turbulent relationship — which is now under investigation by prosecutors and Congress...
Largest-Ever Crackdown Against Elder Fraud Led by the Department of Justice
Consumer Finance Monitor 03/19/2019
On March 7, 2019, the DOJ announced the largest coordinated sweep of elder fraud cases to date. Joined by the FBI and other federal and state partners, the DOJ held a press conference detailing the results of the coordinated effort...
Can Sophisticated Investors Be Defrauded? Courts Keep Ruling No
The New York Times 03/18/2019
Can a tough negotiation stance cross the line into fraudulent conduct? That was the key question in the fraud prosecution of Robert Bogucki, a former Barclays trader...
Elon Musk's defense of his Tesla tweets borders "on the ridiculous," SEC says
The Washington Post: Business 03/19/2019
The spiraling conflict could throw the $50 billion car company further into uncertainty and imperil Musk’s ability to remain as company chief...