Conference of State Bank Supervisors files new lawsuit to block OCC approval of Figure Technologies charter application
By EsqSocial Corporation 06/01/21
The Conference of State Bank Supervisors (CSBS) has filed a lawsuit in D.C. federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. According to the complaint, Figure, through a subsidiary, is currently licensed in 49 states and the District of Columbia as a mortgage lender, consumer lender, and/or debt collector and intends to begin engaging in new money transmission activities in early 2021 through another subsidiary. The lawsuit follows the...
By: Ballard Spahr LLP