check-cashing

Wisconsin Senate proposes new bill to revise money transmission, consumer lenders, collection agency and other financial services licenses

By Kristen E. Larson & Loran Kilson on January 9, 2024

Posted in Regulatory and Enforcement, State Licensing

In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of Financial Institutions (DFI) to expand use of the Nationwide Multistate Licensing System and Registry (NMLS) across license types, modernizes money transmission laws, and revises the regulation of consumer lenders, collection agencies, check sellers, payday lenders, community currencies exchanges, sales finance companies, adjustment service companies, and insurance premium companies.… Continue Reading

CFPB Sues All American Check Cashing

By Alan S. Kaplinsky & Theodore R. Flo on May 17, 2016

Posted in CFPB Enforcement, CFPB People, Hot Issues, Payday Lending, Regulatory and Enforcement, UDAAP

On May 11, 2016, the CFPB sued All American Check Cashing, Mid-State Finance and their President and owner Michael E. Gray. It alleged that the Defendants engaged in abusive, deceptive, and unfair conduct in making certain payday loans, failing to refund overpayments on those loans, and cashing consumers’ checks.

The CFPB’s claims are mundane.… Continue Reading