News & Analysis as of

Settlement Online Marketplace Lending

Sheppard Mullin Richter & Hampton LLP

Online Investment Site Settles with FTC, $2.4M Fine

On March 8, the FTC settled with the operators of an online stock trading platform over allegations that the operators fraudulently marketed investment-related services that they claimed would enable consumers to make...more

Ballard Spahr LLP

CFPB settles lawsuit against online payday lenders

Ballard Spahr LLP on

The CFPB announced that it has settled a lawsuit that it filed in 2014 in a Missouri federal district court alleging that the defendants engaged in unlawful online payday lending schemes.  ...more

Goodwin

West Virginia Attorney General Announces Settlement with Online Lender Over Alleged Usurious Loans

Goodwin on

On June 6, 2016, the West Virginia Attorney General announced a settlement with a regional online lender over allegations that the lender’s business practices violated West Virginia’s Consumer Credit and Protection Act. The...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

No-Action Letter Issued Regarding the OCR Final Rule - On April 8, the U.S. Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight issued a no-action letter regarding the ownership and control final...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps - On August 19, The U.S. Commodity Futures Trading Commission (CFTC) proposed amendments to existing rules relating...more

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