In a victory for fintechs and the banks that partner with them, the U.S. District Court for the Northern District of California recently turned back two challenges by a consortium of state attorneys general to the "valid when...more
Bank partnerships allow banks to offer loans to consumers and businesses by leveraging the resources of non-bank entities. The relationships between banks and their non-bank entity partners have existed for many years. In the...more
6/14/2019
/ Bank Partnership Lending Programs ,
Banks ,
Choice-of-Law ,
Consumer Financial Products ,
DIDMCA ,
Enforcement Actions ,
FDIC ,
Interest Rates ,
Internet Lenders ,
Lack of Authority ,
Licensing Rules ,
Madden v Midland Funding ,
Mortgages ,
National Bank Act ,
Non-Bank Lenders ,
NYDFS ,
Opt-Outs ,
Preemption ,
Regulatory Requirements ,
Small Dollar Lenders ,
Unconscionable Contracts ,
Uniform Commercial Code (UCC) ,
Usury
Bank partnership lending programs have existed for years and have played a significant role in the growth of the online lending industry and the fintech sector. In a bank partnership lending program, a non-bank partner...more
6/13/2019
/ Bank Partnership Lending Programs ,
Banks ,
Corrupt Organizations Act (COA) ,
Enforcement Actions ,
FDIA ,
FDIC ,
Finance Lenders Law ,
Financial Regulatory Agencies ,
LendingTree ,
Loan Origination Funds ,
Non-Bank Lenders ,
Personal Liability ,
RICO ,
State Regulators ,
Tribal Loans ,
Usury