CFPB Monitor
FEBRUARY 10, 2021
With regard to fair lending enforcement, the letter highlights two developments: The FTC brought one fair lending enforcement action in 2020 in federal court against a New York City car dealer and its general manager. Currently, no information is publicly available about this new group.
CFPB Monitor
SEPTEMBER 25, 2015
The joint complaint filed by the CFPB and DOJ in federal district court in New Jersey states that the action resulted from a joint investigation by the agencies of the bank’s lending practices following the CFPB’s referral of the bank to the DOJ pursuant to the ECOA. million civil money penalty to the CFPB.
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Independent Banker
DECEMBER 29, 2015
ICBA warns of risks of online marketplace lending models. Online marketplace lenders are a new form of nonbank specialty lending that uses technology platforms to allow Wall Street and individual investors to directly fund loans to consumers and small businesses. Lend exclusively over online peer-to-peer platforms.
Independent Banker
OCTOBER 31, 2021
Curt Allison, The Fountain Trust Company’s chief lending officer, says his bank’s software program has been collecting data since Dec. A similar story comes from Jill Sung, president and CEO of $338 million-asset Abacus Federal Savings Bank in New York City. Jill Sung, Abacus Federal Savings Bank.
Fintech Labs Insights
SEPTEMBER 10, 2015
The total included mega-rounds of $30+ million to three lending plays: FundBox ($50 mil), CommonBond ($35 mil), Orchard Platform ($30 million) and one financial-institution-supported blockchain startup: Chain ($35 mil). HQ: New York City. Powering marketplace lending. HQ: New York City.
Fintech Labs Insights
MARCH 22, 2016
It was another busy week for Finovate alums with six raising new funds: StreetShares raised $4.5 million for its P2P lending platform for small businesses. million for its compliance tools. Alt-lender focused on lending against existing automobile titles. P2P real estate lending marketplace. SmartAsset raised $3.8
CFPB Monitor
MARCH 8, 2017
Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke. Kaplinsky and Scott M. ” He then discussed the CFPB’s two most recent requests for information.
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