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. Atlanticus/Fortiva performs all of the collections, servicing, payment and remittance operations in connection with the accounts.
CFPB Monitor
SEPTEMBER 10, 2020
Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.
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CFPB Monitor
MARCH 15, 2022
Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.
Jeff For Banks
JUNE 2, 2023
Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 800%, only to fall 740% from its peak by October 2002, giving up all its gains during the bubble. We knew there was tremendous hubris in the subprime market. Remember K Bank in Maryland? What caused it? We took a serious reputational hit.
Jeff For Banks
FEBRUARY 6, 2011
The FDIC has nearly quadrupled its enforcement actions (“EA”) over the past three years. Perhaps the bank would like to pay higher than market dividend yields because their investor base enjoys dividends. The stark increase in such orders has been alarming. Many of these EAs have very similar, if not identical, provisions.
Independent Banker
APRIL 30, 2022
A: We strategically positioned ourselves to take advantage of the market. We’ve been the number one SBA lender in our market for the past two years, so we were well positioned to assist our clients with the PPP program. We were gaining more market share by calling on all the Realtors. Q: Why has Genesee Regional Bank succeeded?
Jeff For Banks
FEBRUARY 1, 2015
In the mid to late 1990''s, my employer, First National Bank of Maryland based in Baltimore, bought Harrisburg, Pennsylvania based Dauphin Deposit Bank. They didn''t even include bank in their marketing materials, leaving customers and potential customers wondering, who ? Common sense trumps a marketing study.
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