SOUTH
BRONX/SDNY, June 22
– The
Federal Reserve and OCC are entertaining
applications by Enova, the parent of high
cost lender CashNetUSA, to acquire
Grasshopper Bank, already deeply engaged
in AI banking.
Inner City
Press requested documents including the
Federal Reserve's communications with
Enova, under the Freedom of
Information Act. The Fed denied
the request, then on Inner City
Press' appeal provided
entirely redacted pages and a denial, which said if
you don't agree, you
can sue.
Among
with the denial, the
Fed sent Inner City
Press entirely
redacted pages from
its Additional
Information letter
to Enova, which we
put on our
DocumentCloud here
Inner
City Press has now
filed a FOIA
lawsuit against
the Fed for its
communications
with Enova - copy
of complaint,
which went live
on PACER on June
1, on now on
CourtListener,
here.
On
June 22 Fair Finance
Watch joined more than
60 other groups
writing to Chairman
Warsh (Governor
Bowman, in the
interim, had
been answering
questions at a
Bank of
America by
invitation
only shindig,
the day after
the FOMC
announcement).
It was unclear
if the Fed's
"reading room"
misleadingly
omitting
any mention
of the eight redacted
pages had an
impact. Watch
this
site.
