A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more
4/25/2025
/ Banks ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Interest Rates ,
Lenders ,
Licensing Rules ,
National Bank Act ,
New Legislation ,
NMLS ,
Pending Legislation ,
Service Contracts ,
Small Business Loans ,
State Legislatures
Virginia's Interest and Usury Chapter (the "Chapter"), found in the Financial Institutions and Services Title of the Virginia Code, sets out basic rules for what rates of interest various entities may charge in the state. ...more
One of the beauties of the national banking system is that it allows state-chartered banks to offer uniform credit products across the 50 states without having to worry about state interest rate caps. This concept - rate...more
Though a legal concept in existence in our nation’s jurisprudence for more than two hundred years, “valid when made” continues to be a heated topic of debate. Such controversy is to be expected given the treatment (or...more
6/18/2020
/ Debt Buyers ,
Dodd-Frank ,
Financial Regulatory Reform ,
Financial Services Industry ,
Interest Rates ,
Madden v Midland Funding ,
National Bank Act ,
OCC ,
Preemption ,
Trustees ,
Trusts ,
Usury ,
Valid When Made Doctrine
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