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Alston & Bird

Structured Finance Spectrum – February 2023

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features a new year for a new UCC Article 12, a farewell to LIBOR, and an appraisal...more

A&O Shearman

European Banking Authority Publishes Report on Non-Bank Lending Sector

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The European Banking Authority has published a report on the EU non-bank lending sector i.e., the growing number of financial intermediaries operating outside the EU financial services regulatory perimeter, including BigTech...more

Alston & Bird

The District of Columbia Continues to Fight the “True Lender” Rule in Court

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A&B ABstract: Innovative partnerships between banks and nonbanks have expanded lending services to consumers and small businesses. These partnerships, known as marketplace lending arrangements, offer non-traditional loan...more

Stinson - Corporate & Securities Law Blog

“True Lender” Litigation on the Rise: Recent Litigation and Enforcement Actions Challenge Traditional Bank Partnership Model

Over the last two years the financial industry has seen an uptick in litigation and enforcement actions aimed at banks and their non-bank lending partners. These actions have primarily challenged the validity of the bank...more

Ballard Spahr LLP

Bipartisan bill to provide “true lender” fix introduced in House

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A bipartisan group of five House members introduced a bill (H.R. 4439) last month that is intended to address the so-called “true lender” issue, which creates risk with respect to some loans made by banks with substantial...more

Orrick, Herrington & Sutcliffe LLP

Colorado Moves to Dismiss Suits Seeking Judgment That Bank-Originated Loans Facilitated and Serviced by Online Platforms Are...

As we noted in a recent Alert, WebBank and Cross River Bank filed separate federal civil actions to enjoin the Administrator of Colorado's Uniform Consumer Credit Code from enforcing state lending laws against Avant, Inc. and...more

BCLP

Banks and Marketplace Lenders Absorb a Blow

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In a blow to banks and the marketplace lending industry, on June 27, 2016, the U.S. Supreme Court denied the petition by Midland Funding to hear the case Midland Funding, LLC v. Madden (No. 15-610). That case involves a...more

Troutman Pepper

FDIC Throws Water on the Marketplace Lending Phenomenon

Troutman Pepper on

The FDIC’s new requirements will substantially increase the costs imposed on banks that wish to purchase marketplace loans. On November 6, the Federal Deposit Insurance Corporation (FDIC) issued Financial Institution...more

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