In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Fintech industry.
So, what happened in 2022?...more
The debt settlement industry received some "regulation by enforcement" in the wake of a settlement of the lawsuit filed by the Consumer Financial Protection Bureau ("CFPB") against Freedom Debt Relief, LLC ("FDR"). The...more
8/5/2019
/ Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Relief ,
Debt Settlement Services ,
Debt-Relief Industry ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Stipulated Judgment ,
Telemarketing Sales Rule
Bank partnerships allow banks to offer loans to consumers and businesses by leveraging the resources of non-bank entities. The relationships between banks and their non-bank entity partners have existed for many years. In the...more
6/14/2019
/ Bank Partnership Lending Programs ,
Banks ,
Choice-of-Law ,
Consumer Financial Products ,
DIDMCA ,
Enforcement Actions ,
FDIC ,
Interest Rates ,
Internet Lenders ,
Lack of Authority ,
Licensing Rules ,
Madden v Midland Funding ,
Mortgages ,
National Bank Act ,
Non-Bank Lenders ,
NYDFS ,
Opt-Outs ,
Preemption ,
Regulatory Requirements ,
Small Dollar Lenders ,
Unconscionable Contracts ,
Uniform Commercial Code (UCC) ,
Usury
Bank partnership lending programs have existed for years and have played a significant role in the growth of the online lending industry and the fintech sector. In a bank partnership lending program, a non-bank partner...more
6/13/2019
/ Bank Partnership Lending Programs ,
Banks ,
Corrupt Organizations Act (COA) ,
Enforcement Actions ,
FDIA ,
FDIC ,
Finance Lenders Law ,
Financial Regulatory Agencies ,
LendingTree ,
Loan Origination Funds ,
Non-Bank Lenders ,
Personal Liability ,
RICO ,
State Regulators ,
Tribal Loans ,
Usury