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  • True Lender Update: States vs. OCC; No FDIC Rule; Possible State True Lender Rules?

    For national banks, the OCC’s true lender rule became effective on December 29, 2020. However, as expected, the Attorneys General of New York, California, Colorado, the District of Columbia, Massachusetts, Minnesota, New Jersey, and North Carolina (the States) filed a federal lawsuit in New York shortly after the new year alleging that the OCC’s True Lender rule is invalid. The States argue that the OCC’s true lender rule facilitates predatory lending, preempts state usury law, and enables “rent-a-bank” schemes. The complaint further alleges that the OCC exceeded its statutory authority and questions the timing of the OCC’s rule with a new administration on the way, which may have different policy priorities set by a new Comptroller.

  • McGlinchey’s Savoie, practice group ranked in Chambers FinTech 2021

    McGlinchey Stafford is pleased to announce national recognition of attorney Robert Savoie (Cleveland) and its FinTech practice group in the 2021 Chambers FinTech guide.

  • FinTech in the Time of COVID: What Financial Services Companies Need to Know

    Since the beginning of the COVID pandemic in early 2020, consumers and the business community have had to navigate new realities. The pandemic has dramatically changed the ways in which we interact, presenting challenges that were rarely, if ever, previously contemplated. Some industries have been affected profoundly, while others are naturally better suited to withstandMore

  • Making the Most of Licensing Renewals

    As we find ourselves in the midst of license renewal season (which began on November 1 and runs through the end of the year), you may find yourself wondering, how do I ensure compliance in every jurisdiction in which my company holds a license? Renewal requirements vary by state and by license, ranging from a simple fee to specific documentation that must be submitted to the regulator. Below are some tips to help licensees in tracking renewal requirements year-round and filing timely renewal submissions.

  • 2020 Emerging Issues in Alabama Banking Law

    Please register and plan to join us virtually on Tuesday, December 8, 2020 for McGlinchey’s 2nd Annual “Emerging Issues in Banking Law” CLE event, laser-focused on topics of interest to Alabama lawyers who work within banks.

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