CFPB Monitor
SEPTEMBER 12, 2019
The OCC and FDIC have filed a joint amicus brief in a Colorado federal district court arguing that the court should affirm the decision of a bankruptcy court holding that a non-bank loan assignee could charge the same interest rate the bank assignor could charge under Section 27(a) of the Federal Deposit Insurance Act, 12 U.S.C.
CFPB Monitor
AUGUST 24, 2020
We have previously blogged about the lawsuits filed by the Colorado Attorney General against fintechs Avant and Marlette Funding and their partner banks WebBank and Cross River Bank. Supreme Court, a Colorado appellate court (after any chance for appeal has run) or the FDIC adopts a “true lender” test that differs from the safe harbor).
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Independent Banker
JUNE 30, 2022
is a full-service commercial bank with 80 branch locations in Arizona, Colorado, Kansas and Missouri. It provides a wide range of financial solutions for business and individuals, including commercial and business banking, treasury management, and mortgage services. Two bank charters (which doubles FDIC coverage).
Abrigo
MAY 5, 2022
Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. In the Room with Todd Marksberry In the Room with Todd Marksberry is hosted by Canvas Credit Union President and CEO Todd Marksberry.
CFPB Monitor
OCTOBER 10, 2019
Because Celtic retains no ownership or monetary interest in the loans, it bears no economic risk of loss due to a borrower’s non-payment (In June 2015, Kabbage’s “Program Management Agreement” with Celtic was amended to eliminate the 5% participation interest retained by Celtic.).
CFPB Monitor
OCTOBER 13, 2020
The Receivables Management Association observed that the OCC is ideally situated to understand the nuances of the credit industry, and the importance of efficiency on the industry’s ability to provide affordable credit to fuel economic and job growth.
CFPB Monitor
SEPTEMBER 24, 2019
In their letter, the lawmakers indicate that they “appreciate the OCC’s and the FDIC’s expression of support for the ‘valid when made’ doctrine in the agencies’ recent amicus brief filed to the U.S. District Court of Colorado in Rent-Rite Super Kegs, Ltd. World Business Lenders, LLC.”
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