There have been a handful of recent marketplace lending developments that indicate that the legal uncertainties in the post-Madden world are not going away anytime soon....more
10/24/2019
/ Consumer Financial Products ,
FDIC ,
Financial Services Industry ,
FinTech ,
Fintech Charter ,
Lenders ,
Madden v Midland Funding ,
National Bank Act ,
National Bank Charters ,
Non-Depository Institutions ,
OCC
Many have believed that the national bank “fintech charter” is an ideal solution to providing marketplace consumer loans on a 50-state basis. ...more
Recently a state court in Colorado ruled that securitization trusts that acquire marketplace lender loans originated to Colorado consumers are subject to Colorado jurisdiction. The court’s ruling derailed the attempt by the...more