Evidence of CFPB interest in small business lending continues to mount. While it was not surprising to see federal regulators attending the American Banker’s Marketplace Lending +Investment conference in New York City two...more
The defendants in Madden v. Midland Funding, LLC have filed a petition for certiorari with the U.S. Supreme Court, asking the Court to decide whether the preemption of state usury laws under Section 85 of the National Bank...more
Companies involved in marketplace lending will be quite interested in the attendee list for the American Banker’s Marketplace Lending + Investing conference taking place this week in New York City. It indicates that 22...more
A new type of Electronic Funds Transfer Act (EFTA) class action is now being filed in volume. This trend is highly likely to continue, as the cases are being filed by a consumer class action firm that has filed hundreds of...more
The U.S. Court of Appeals for the Second Circuit ruled last week that a purchaser of charged-off debts from a national bank was not entitled to assert the preemption of state usury laws available to national banks under...more