The case provides an outline of issues to consider and structures to avoid in designing bank collaboration models in the future. On August 31, in Consumer Financial Protection Bureau v. CashCall, Inc., the U.S....more
On August 31, a federal district court in California ruled in favor of the U.S. Consumer Financial Protection Bureau (CFPB) on the application of "true lender" principles in the context of a tribal lending arrangement. The...more
The Minnesota Supreme Court has ruled that the Commerce Clause of the U.S. Constitution does not preclude Minnesota from applying its payday lending law to loans consummated in Delaware that are made to Minnesota residents...more