CALIFORNIA AND ILLINOIS WARN FINTECHS: BE CAREFUL USING “BANK”

CALIFORNIA AND ILLINOIS WARN FINTECHS: BE CAREFUL USING “BANK”

On March 29th, the California Department of Financial Protection and Innovation (“DFPI”) settled a 2020 inquiry regarding a financial technology company’s (“Fintech”) use of the term “bank” or “banking” in the course of its business. The Fintech works with bank partners to provide consumer-oriented banking products. Read More