SOUTH
BRONX/SDNY, June 19 –
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. Fed Governor Bowman has
spoken openly of speeding up the rubber
stamping such applications.
She also spoke before a Bank of
America private event
right after the interest rate
vote.
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 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.
The Fed
had
30 days to answer -
and still not
even a notice of
appearance.
