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Stinson LLP

States Expand Regulation of Consumer Lending: Codification of "True Lender" and Opt-out of DIDMCA's Interest Rate Exportation

Stinson LLP on

Consumer lenders face a rapidly changing legal landscape. States are increasingly targeting the activities of non-bank third parties in the consumer loan process and interest rate exportation by state-chartered banks. In the...more

Troutman Pepper

Washington D.C. Introduces Legislation Attacking Fintech-Bank Partnership Lending by Opting Out of DIDMCA and Codifying a “True...

Troutman Pepper on

Late last month, Councilmember Kenyan R. McDuffie introduced B 25-0609, entitled the Protecting Affordable Loans Amendment Act of 2023, that proposes to opt the District of Columbia out of sections 521-523 of the Depository...more

Venable LLP

Colorado Passes Law to Curb Interest Rates on Consumer Loans

Venable LLP on

Colorado has passed a law that amends the Colorado Uniform Consumer Credit Code (UCCC) to extend state interest rate limits on certain consumer loans made by out-of-state state-chartered banks, which caps rates at a maximum...more

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