CFPB Monitor
MAY 6, 2021
A Maryland administrative action recently removed to the state’s federal district court illustrates how Maryland law continues to present challenges for the bank partner structure used by many lenders. The new Maryland matter demonstrates that participants in bank model programs continue to face state licensing threats.
CFPB Monitor
OCTOBER 27, 2022
The FTC’s complaint , filed in federal district court for the District of Maryland, alleges that Passport advertises cars as “certified,” “inspected,” or “reconditioned” at specific prices, but then adds hundreds or thousands of dollars in fees to the advertised prices. Under the terms of the settlement , Passport will pay more than $3.3
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CFPB Monitor
AUGUST 7, 2019
In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” Maryland Office of the Commissioner for Financial Regulation.
CFPB Monitor
SEPTEMBER 10, 2020
The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. According to the DBO’s press release, until the FACA became effective, LoanMart was making state-licensed auto title loans at rates above 100 percent.
PYMNTS
SEPTEMBER 22, 2017
We’ve got lots of pieces now that, say dynamism, has gone down a lot since 2000,” said John Haltiwanger, a University of Maryland economist who has done much of the pioneering work in the field. Better have a very full and robust compliance department and a perfect working knowledge of AML/YC regulations. Want to accept credit cards?
Independent Banker
MARCH 15, 2015
We want them to see that disproportionately large stack of compliance forms that a small institution has to deal with.”. As an example, “If X goes into effect, it would decrease my mortgage lending by X percent.”. Michael Blankenheim is a freelance writer in Maryland. Michael Blankenheim.
Fintech Labs Insights
JUNE 6, 2016
HQ: Glenwood, Maryland. Tags: SMB, investors, commercial mortgage, P2P lending, credit, underwriting, real estate. Latest round: $188 million Debt (for AvantCredit UK). Total raised: $1.92 billion ($654 million Equity, $1.26 billion Debt). HQ: Chicago, Illinois. Source: Crunchbase. Bridge2Solutions. Latest round: $35 million Series A.
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