A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more
4/25/2025
/ Banks ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Interest Rates ,
Lenders ,
Licensing Rules ,
National Bank Act ,
New Legislation ,
NMLS ,
Pending Legislation ,
Service Contracts ,
Small Business Loans ,
State Legislatures
In the last few years, state legislatures have enacted legislation to curtail online bank lending in response to advocacy efforts by consumer activists.
Such programs, in which nonbank financial technology companies...more
2/21/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Protection Laws ,
Financial Institutions ,
FinTech ,
Internet Lenders ,
Loans ,
New Legislation ,
Usury
Virginia's Interest and Usury Chapter (the "Chapter"), found in the Financial Institutions and Services Title of the Virginia Code, sets out basic rules for what rates of interest various entities may charge in the state. ...more