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Vermont federal district court rules CFPA does not provide private right of action for alleged usurious loans; denies motion to dismiss EFTA claim

CFPB Monitor

A Vermont federal district court recently issued a decision ruling on the defendants’ motion to dismiss a class action involving allegations that an online tribal lending venture violated federal and state law because of alleged usurious interest rates and other allegedly unlawful features. Rosenblum.

Vermont 68
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The United States Of Artificial Intelligence Startups

CB Insights

Our analysis looked at equity funding to private, VC-backed AI startups that have had an equity deal in the last 5 years. Collectively, these startups have raised over $5B, with leading companies such as Butterfly Network (Connecticut, $350M in total disclosed equity funding), Welltok (Colorado, $339M), and InsideSales.com (Utah, $264M).

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State AGs urge Mulvaney to continue use of disparate impact theory of ECOA liability

CFPB Monitor

57, disapproving of the CFPB’s Bulletin 2013-2 regarding “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act.” We commented that the Court’s analysis highlights material differences between the FHA and the ECOA; namely the lack of comparable “results oriented language” in the ECOA.

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Impact Roadshow | Colchester, VT

Filene

Local Host: Association of Vermont Credit Unions. QCash - An omni-channel lending solution that offers relationship based underwriting (without credit check) to members in search for small, short-term unsecured loans. 10:00 a.m. - Filene Host: Jimese Harkley. Click the arrow below to REGISTER for this event: WHAT IS AN IMPACT ROADSHOW?

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Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform

CB Insights

Others include Hijro (formerly Fluent), which offers an alternative platform for lending into global supply chains, and Skuchain , which builds blockchain-based products for the business-to-business trade and supply chain finance market. Illinois, Vermont, and other states have since announced similar initiatives. Forecasting.