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Innovation › Online Marketplace Lending

Ballard Spahr LLP

Online lending summit speakers discuss SPNB charters, CFPB trial disclosure policy, alternative data

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At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. earlier this week, the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose...more

Ballard Spahr LLP

Treasury Recommends Sweeping Regulatory Changes for Consumer Financial Services

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A report issued last week by the U.S. Treasury Department recommends sweeping regulatory changes intended to promote innovation in the consumer financial services market, reduce regulatory burdens on consumer financial...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Vanguard’s not well known for making waves, but the $4.5 trillion mutual-fund manager has quietly increased its corporate engagement activity over the past year—discussing governance, pay, and other issues with nearly a...more

Troutman Pepper

New OCC Bulletin on Third-Party Oversight Highlights Fintech Relationships

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On June 7, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2017-21 (Frequently Asked Questions to Supplement Bulletin 2013-29; Third-Party Relationships: Risk Management Guidance). This is the OCC’s...more

Bradley Arant Boult Cummings LLP

CFPB Solicits Comments for its 2017 Credit Card Market Report

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On Friday, the Consumer Financial Protection Bureau (CFPB) published a request for information about the credit card market. The CFPB uses responses to those requests, in conjunction with other data and research, to publish...more

Troutman Pepper

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

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The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Cadwalader, Wickersham & Taft LLP

New York Seeks to Regulate Fintech Lending Market

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New York is joining a small but growing list of states seeking to regulate the “bank-origination” method of online lending. The recently introduced New York Budget legislation would amend Section 340 of the New York...more

Ballard Spahr LLP

Brookings to hold Oct. 13 fintech event

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On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C. titled: “How to make fintech work for all Americans.” Speakers include industry representatives and an FDIC representative. Brookings...more

Bradley Arant Boult Cummings LLP

CFPB Sends Clear Message That FinTech Start-Ups Have Same Obligations as Established Companies

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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

Bilzin Sumberg

Lenders & FinTech Companies Now Have an Opportunity to Shape Federal Regulation of FinTech

Bilzin Sumberg on

On March 31, 2016, the Office of the Comptroller of the Currency (“OCC”) issued its much anticipated white paper on the role of financial technology (“FinTech”) in the financial services industry. The paper, titled Supporting...more

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