The Latest on Enhanced Government Scrutiny Over Payday Loans/Deposit Advance Loans and Efforts to Stop Fraud by Cutting Off Access to Bank Payment- Processing Services: “Operation Chokepoint,” New Regulation, CFPB/FDIC/OCC Involvement,

January 30, 2015 4:45pm

Donn A. Randall

Bulkley, Richardson and Gelinas LLP

  • The Regulators’ interest in payday lenders and deposit advance loans
    • ‘Operation Choke Point’
    • The DOJ’s activity
    • The CFPB’s position
    • FDIC and OCC involvement
  • Dealing with usury issues with these types of loans
  • Reducing the risk of predatory lending
  • Possible negative effects of shutting out payday lenders