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Loans › Small Business › FinTech

Hudson Cook, LLP

North Dakota Law Regulates "Alternative Financing" as a "Loan"

Hudson Cook, LLP on

The state legislature in North Dakota recently passed House Bill 1127. This bill made a simple amendment to a 1970s-era law called the Money Brokers Act ("MBA")....more

Troutman Pepper Locke

OCC Conditionally Approves Fintech Business Model for SmartBiz Bank, N.A.

Troutman Pepper Locke on

On March 17, the Office of the Comptroller of the Currency (OCC) announced that it has granted conditional approval for SmartBiz Loans to transform the business model of CenTrust Bank, N.A., located in Northbrook, Illinois....more

Troutman Pepper Locke

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

Troutman Pepper Locke on

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Morrison & Foerster LLP

CFPB Poised to Expand Regulation to Small Business Lending: Expect the Unexpected

Morrison & Foerster LLP on

Recent initiatives by the Consumer Financial Protection Bureau (“CFPB” or Bureau) to dramatically expand its regulation of small business lending present a confluence of concerns to industry participants. These initiatives...more

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