News & Analysis as of

Final Rules Online Marketplace Lending

BCLP

OCC Releases Final Rule on Permissible Interest Rates, Addressing Madden Debate

BCLP on

On June 1, 2020, the Office of the Comptroller of the Currency (“OCC”) released a final rule on permissible interest on loans that are sold, assigned, or transferred, and effectively reversed the Second Circuit’s 2015...more

Ballard Spahr LLP

CFPB issues final rule delaying compliance date of payday loan rule ability-to-repay provisions; August 19 compliance date for...

Ballard Spahr LLP on

The CFPB has issued a final rule delaying the compliance date for the ability-to-repay (ATR) provisions in its final payday/auto title/high-rate installment loan rule (Payday Rule) for 15 months, until November 19, 2020....more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

RMBS Suit Against WMC Mortgage LLC Dismissed as Time-Barred - On July 10, 2015, Judge Alvin Hellerstein of the Southern District of New York granted defendant WMC Mortgage LLC's motion for judgment on the pleadings in an...more

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