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).
CFPB Monitor
FEBRUARY 4, 2019
As discussed in an earlier post , on November 6, 2018, Colorado’s voters passed Proposition 111 , seeking to limit interest rates and fees charged on payday loans in Colorado to an annualized percentage rate of thirty-six percent. Effective February 1, 2019, the proposition amends Colorado’s Deferred Deposit Loan Act (C.R.S. §
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PYMNTS
JULY 29, 2019
office is in Boulder, Colorado. Banks aren’t necessarily a secure place for your money,” he said. They lend out more than they have.”. A company called Glint Pay has launched a debit card that’s backed by gold instead of currency, according to a report in The Denver Post. The company is London-based, and its U.S.
PYMNTS
AUGUST 2, 2020
In a July survey of 931 firms that received PPP loans, Barlow Research Associates, the Minneapolis-based bank market research company, revealed that of the businesses that secured PPP funding, 28 percent received their loan from a lender with whom they had no prior relationship or a bank that wasn’t their primary one. to InBankshares Corp.
CFPB Monitor
JUNE 4, 2020
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PYMNTS
SEPTEMBER 4, 2020
The company said it would use the investment to expand its product features with a focus on its automated lending infrastructure, and noted it will now include ACH processing in its offering. As organizations accelerate their sales digitization efforts, B2B eCommerce has jumped to the top of strategic planning initiatives. Cloudentity.
CFPB Monitor
JANUARY 10, 2019
The AG supplemented the UCCC with definitions of “collateral” and “security interest” as drawn from the Uniform Commercial Code. The AG further bolstered her analysis by considering various courts’ interpretation of the federal Truth in Lending Act’s disclosure requirements, as pertaining to post-dated checks and certain debit authorizations.
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