Bank Charters Archives

Letter to CFPB Regarding Repeat Offenders; Registry of Nonbank Financial Companies Subject to Certain Agency and Court Orders

March 31, 2023

Submitted to Regulations.govRohit Chopra, DirectorConsumer Financial Protection Bureau1700 G Street NW,Washington, DC 20552 Dear Director Chopra, The undersigned consumer organizations are pleased to support the Consumer Financial Protection Bureau’s (CFPB) proposal to require nonbank covered persons that are subject to certain agency and court orders to register those orders with the CFPB. The registry will…

FDIC Should Downgrade Three Banks Engaged in Predatory “Rent-a-Bank” Lending

March 30, 2023

Utah’s Capital Community and First Electronic Banks and Kentucky’s Republic Bank & Trust accused of predatory lending, evasions of state interest rate limits WASHINGTON — A coalition of consumer advocates is urging the Federal Deposit Insurance Corporation (FDIC) to downgrade the Community Reinvestment Act (CRA) rating of three banks. Utah’s Capital Community Bank (CC Bank)…

Coalition Comments to FDIC Regarding Community Reinvestment Act Examination of First Electronic Bank

March 21, 2023

Accountable.US, Americans for Financial Reform, Center for Responsible Lending, Consumer Action, Consumer Federation of America, National Consumer Law Center (on behalf of its low- income clients), National Community Reinvestment Coalition, Public Citizen, US PIRG and the Woodstock Institute submitted comments for the Community Reinvestment Act (CRA) examination of First Electronic Bank. First Electronic Bank helps…

FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-a-Bank’ Lending

March 15, 2023

FinWise Bank’s lending through American First Finance, Elevate, and Opportunity Financial (OppFi), offering loans at up to 160% APR, raises serious consumer protection issues.

Coalition Comments to FDIC Regarding Community Reinvestment Act Examination of Rent-a-Bank FinWise Bank

March 14, 2023

Accountable.US, Americans for Financial Reform, Center for Responsible Lending, Consumer Action, Consumer Federation of America, National Consumer Law Center (on behalf of its low-income clients), National Community Reinvestment Coalition, Public Citizen, US PIRG and the Woodstock Institute submitted comments in connection with the Community Reinvestment Act (CRA) examination of FinWise Bank. FinWise Bank helps several…

TAB Bank, Facilitator of Predatory Puppy Loans, Gets Rating Downgraded by FDIC

February 6, 2023

The FDIC found that the Utah-based bank committed unfair or deceptive acts or practices that “impacted a large number of consumers over an extended period of time."

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