In the last few years, state legislatures have enacted legislation to curtail online bank lending in response to advocacy efforts by consumer activists.
Such programs, in which nonbank financial technology companies...more
2/21/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Internet Lenders ,
Loans ,
New Legislation ,
Usury
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
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
COVID-19 and the related emergency has had a dramatic effect on small businesses. States have implemented "stay-at-home" orders or otherwise ordered the closure of non-essential businesses, resulting in the virtual...more
4/7/2020
/ Business Closures ,
Compliance ,
Coronavirus/COVID-19 ,
Financial Distress ,
Financing ,
Merchant Cash Advance (MCA) ,
Natural Disasters ,
Risk Assessment ,
Small Business ,
State of Emergency ,
Usury
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