News & Analysis as of

Lending FinTech

Morrison & Foerster LLP

MoForecast: State AGs and Consumer Financial Protection: Anticipating Shifts in Enforcement Focus

As the Consumer Financial Protection Bureau (CFPB) faces uncertainty, state attorneys general (state AGs) are poised to fill the enforcement gap in consumer financial protection. With the CFPB’s future in question, state AGs...more

Stinson LLP

Trump's First 100 Days: Banking & Financial Services

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While existing regulations won't be erased overnight, the Trump Administration can quickly rescind informal agency guidance, including advisory opinions, interpretive rules and policy statements, creating opportunities for...more

Sheppard Mullin Richter & Hampton LLP

CFPB Sues Fintech for Deceptive Practices Surrounding Tipping Service

On May 17, the CFPB filed a lawsuit against a California-based fintech that operates a nationwide website and mobile-application based peer-to-peer lending platform through which consumers can obtain small-dollar, short-term...more

Jenner & Block

Client Alert: Buy Now, Pay Later: A Roadmap for Providers as Regulators Continue to Increase Scrutiny

Jenner & Block on

Point-of-sale financing arrangements payable in four or fewer interest-free installments, known as buy now, pay later (BNPL) arrangements, have soared since their initial breakthrough during the pandemic. Unlike conventional...more

Troutman Pepper Locke

A Discussion with Nacha on Proposed Rulemaking Regarding Fraud - Payments Pros: The Payments Law Podcast

Troutman Pepper Locke on

Troutman Pepper’s Payments Pros podcast offers insights from Troutman Pepper Fintech and Payment practice group attorneys, industry business leaders, and regulatory experts on the most challenging legal and regulatory...more

Guidepost Solutions LLC

Bank Merger Compliance Risks: Are You Prepared?

Bank mergers and acquisitions are becoming a regular part of life in the banking industry, especially for smaller and medium-sized organizations. They provide significant opportunities for institutions to expand their...more

Sheppard Mullin Richter & Hampton LLP

Connecticut Stops FinTech from Unlicensed Lending Activities

On May 4, the Connecticut Department of Banking issued a temporary cease and desist order directing a peer-to-peer lending platform that connected borrowers with third-party lenders to cease its lending-related activities on...more

Sheppard Mullin Richter & Hampton LLP

OCC Prevails in Challenge to “Valid When Made” Rule

On February 8, the U.S. District Court for the Northern District of California ruled against three states – California, Illinois, and New York – challenging the OCC’s rule on the “valid when made” doctrine. In 2020, the OCC...more

Sheppard Mullin Richter & Hampton LLP

Wyoming and Maine Issue New Licensing Requirements Potentially Impacting Passive Loan Investors

Wyoming and Maine recently amended their laws related to licensure requirements for consumer lending: - In July, Wyoming adopted House Bill 0008 (HB 0008), which amends provisions of the Wyoming Uniform Consumer Credit...more

Hogan Lovells

OJK's fintech sandbox

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Until very recently, the Financial Services Authority (OJK) only regulated peer-to-peer fintech lending platforms (P2P Firms). A recently issued OJK regulation (POJK 13/2018) increases its regulatory mandate over fintech...more

Orrick - Finance 20/20

Investigation of Small Business Lending Practices of Fintech Companies

Orrick - Finance 20/20 on

Last year, Congressman Emanuel Cleaver II (D-MO) launched an investigation into the small business lending practices of Financial Technology “Fintech” companies, studying the various methods companies use to protect against...more

Morrison & Foerster LLP

Payments and Lending: Trends to convergence in FinTech

An under-developed logistics infrastructure, a reliance on cash-on-delivery and foreign ownership and other regulatory restrictions have historically limited international expansion into the Indonesian eCommerce and FinTech...more

Morrison & Foerster LLP

E-Money and Electronic Payments: Foreign Investment in the Philippine Financial Technology Sector

DEVELOPMENTS IN THE PHILIPPINE FINTECH SECTOR - The combination of low levels of financial inclusion, a steadily growing GDP and high smart phone usage has resulted in the Philippines becoming a key market in Asia for...more

Morrison & Foerster LLP

Financial Services Report - Summer 2017

EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more

Cooley LLP

Blog: #Insurtech, And The Emergence Of Peer-To-Peer Insurance

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Insurers and insurance distributors don’t usually think of themselves as emerging companies. These industries “emerged” more than 300 years ago; and they’ve been growing and developing ever since. So why is Cooley being asked...more

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