In a clear message to FinTech start-ups, on September 27, 2016, the Consumer Financial Protection Bureau (CFPB) ordered online lender Flurish, Inc. to pay $1.83 million in refunds and a civil penalty of $1.8 million for...more
The results are in from the California Department of Business Oversight's (DBO) investigation into online marketplace lending....more
The California Department of Business Oversight (DBO) has issued a summary report of aggregate data provided by the companies that responded to the DBO's online survey sent to 14 marketplace lenders engaged in online consumer...more
Why it matters - Demonstrating the continuing regulatory interest in online lenders, the California Department of Business Oversight (DBO) announced an inquiry into the marketplace lending industry. While the agency...more
The recent announcement by the California Department of Business Oversight (DBO) that it has launched an inquiry into the marketplace lending industry represents an important development that could presage increased industry...more