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Debt Management Company to Pay $110k in Refunds to Customers under Agreement with Colorado Attorney General’s Office

CFPB Monitor

Colorado Attorney General Phil Weiser announced a recent agreement between Florida-based debt management company Touchstone Partners, Inc. and the Colorado Department of Law in resolution of Touchstone’s violations of the Colorado Debt Management Services Act (DMSA). Continue Reading

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Colorado Settlement Opens Door For Fintech Lenders

Banking Exchange

Colorado may soon witness an influx of new fintech lenders following the conclusion of a long-running legal case Compliance Technology Fair Lending Feature3 Fintech Feature Mobile Online Tech Management Compliance Management Compliance/Regulatory.

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Colorado Attorney General Bans Financial Services Companies from State for Alleged Conflict of Interest

CFPB Monitor

The Colorado Attorney General reached a $175,263 settlement with a lender and a debt management company that are owned and operated by the same individuals. The Colorado Attorney General alleged the companies violated Colorado law when the lender issued loans to customers of the related debt management company.

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2017 Risk Management Summit - Join Sageworks in Denver!

Abrigo

The 2017 Risk Management Summit presented by Sageworks is heading to the "Mile High City". Why You Should Join Us The Summit offers actionable insights that apply across the whole institution, spanning business development through portfolio risk management in a CECL world.

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Colorado Settlement Provides a Possible Path Forward for Certain Bank-Fintech Online Lending Partnerships

CFPB Monitor

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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9 ways to manage credit risk

Independent Banker

We have forward indicators that the Fed will raise interest rates four to six times over the next year,” says Gary Lewis, managing director of lending and deposit solutions for Jack Henry & Associates. Relationship managers who really know their customers may make all the difference. Judith Sears is a writer in Colorado.

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OCC and FDIC file joint amicus brief urging Colorado federal district court to reject Madden

CFPB Monitor

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.