News & Analysis as of

Lenders Online Marketplace Lending

Troutman Pepper

DC OAG Resolves Alleged Usury and Deceptive Acts Violations With Community Lending Platform

Troutman Pepper on

On May 10, SoLo Funds, Inc. (Solo), one of the largest community lending platforms in the United States, entered into a settlement with the District of Columbia attorney general (OAG). The settlement resolves claims that the...more

K&L Gates LLP

Rocky Mountain Low? Implications of the Settlement of Colorado's Challenge to Partnerships Between Banks and Marketplace Lenders

K&L Gates LLP on

The impact of state usury laws on marketplace lending has been an area of concern since the inception of the industry. In a technique borrowed from the payday lending industry, online platforms that make unsecured consumer...more

Manatt, Phelps & Phillips, LLP

[Webinar] Banking and Fintech Transactions: 2020 Forecast - March 25th, 2:00 pm ET

Bank transaction activity has picked up as small and midsize banks look to adjust their business models to the digital economy. Some fintech companies have chosen to acquire or form their own banks. The clash between the new...more

K&L Gates LLP

The International Comparative Legal Guide to: Lending & Secured Finance 2017

K&L Gates LLP on

Innovations in financial technology (“fintech”) are transforming the provision of financial services to consumers and small businesses in ways that are at once profound and mundane. The nascent online lending – or...more

Orrick, Herrington & Sutcliffe LLP

Class Action Against Lending Club and WebBank Headed to Defeat

On Monday, a federal district court in the Southern District of New York granted a motion to compel arbitration in Bethune v. Lending Club Corporation, et al., a closely watched putative class action raising important issues...more

Dechert LLP

Implications of Madden v. Midland Funding

Dechert LLP on

In earlier client OnPoints, we have provided a comprehensive review of recent developments in the U.S. affecting the marketplace lending industry, including the potentially far-reaching Madden v. Midland Funding, LLC case...more

McGuireWoods LLP

Marketplace Lenders May Be Supervised by CFPB in 2017

McGuireWoods LLP on

The Consumer Financial Protection Bureau (CFPB) plans to begin supervising online “peer-to-peer” or “platform” lenders as soon as late 2017, according to the Wall Street Journal. The Journal reported that this oversight...more

Manatt, Phelps & Phillips, LLP

Midland Has Appealed to the U.S. Supreme Court

Madden v. Midland Funding, an important court case for marketplace lending may now be heard at the Supreme Court. We have been following the Madden v. Midland Funding case as it makes its way through the court system....more

Orrick - Finance 20/20

Treasury Extends Comment Period on Marketplace Lenders RFI

Orrick - Finance 20/20 on

On August 18, the Treasury Department extended the comment period for responding to the Request for Information (RFI) on marketplace lending titled “Public Input on Expanding Access to Credit through Online Marketplace...more

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