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Hudson Cook, LLP

Alaska's Anti-Evasion Bill: A Threat to Small Business Lending and Modern Bank-Fintech Partnerships

Hudson Cook, LLP on

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

Ballard Spahr LLP

OCC issues final “true lender” rule

Ballard Spahr LLP on

The OCC has issued a final rule to address when a national bank or federal savings association should be considered the “true lender” in the context of a partnership with a third party. The final rule, adopted only 54 days...more

Goodwin

Financial Services Weekly Roundup: OCC Adds “Madden Fix” To Its Playbook

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) finalized its “Madden fix,” establishing a rule that codifies the “valid when made” principle for nationally chartered banks; the Securities and Exchange...more

Cadwalader, Wickersham & Taft LLP

Marketplace Lending Update #7: This and That

Cadwalader, Wickersham & Taft LLP on

There have been a handful of recent marketplace lending developments that indicate that the legal uncertainties in the post-Madden world are not going away anytime soon....more

Stinson LLP

Critical Question: Inquiry and Analysis on Whether an Uninsured Nationally Chartered Fintech Bank Charter Can Export Interest...

Stinson LLP on

The Comptroller of the Currency (“OCC”) presented a White Paper in December 2016 on Exploring Special Purpose National Bank Charters for Fintech Companies (“White Paper”). Comptroller Tom Curry noted that he had asked the OCC...more

Davis Wright Tremaine LLP

Increased Risk for Buyers of Credit Card Loans

Davis Wright Tremaine LLP on

Third party debt buyers may face increased threat of state-law class action lawsuits after a recent Second Circuit ruling prohibiting such debt buyers from invoking federal preemption defenses under the National Bank Act to...more

Troutman Pepper

Valid at Inception Rule Shot Down by the Second Circuit

Troutman Pepper on

Marketplace lenders and investors that purchase interests in loans originated by banks should pay close attention as it could spawn a host of class action lawsuits if left standing. In a controversial opinion decided on...more

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