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CFPB Issues Final Arbitration Rule; Efforts to Nullify Are Underway
  • Pepper Hamilton LLP
  • USA
  • July 14 2017

Although the CFPB's final rule does not explicitly ban arbitration agreements in contracts involving consumer financial products or services, it


New OCC Bulletin on Third-Party Oversight Highlights Fintech Relationships
  • Pepper Hamilton LLP
  • USA
  • June 28 2017

The OCC Bulletin sends a clear message that fintech-enabled services have become an integral part of the financial services ecosystem. On June 7, the


Conference of State Bank Commissioners Sues OCC to Bar Chartering of Fintech Banks
  • Pepper Hamilton LLP
  • USA
  • May 1 2017

The CSBS' request for an injunction may prompt the OCC to slow down or abandon its willingness to consider issuing National Bank charters to fintech


D.C. Circuit Rebukes CFPB in Civil Investigative Demand Enforcement Decision
  • Pepper Hamilton LLP
  • USA
  • April 25 2017

Firms and individuals receiving CIDs now have at least two solid bases endorsed by federal courts to attack CIDs. On April 21, the U


California Supreme Court Finds Arbitration Agreement Waiver of 'Public Right' Unenforceable
  • Pepper Hamilton LLP
  • USA
  • April 18 2017

In light of this decision, providers of consumer products and services should review their existing arbitration agreements to determine whether the


Cross River Bank Fights Back in True Lender Case, Suing Colorado Credit Code Administrator
  • Pepper Hamilton LLP
  • USA
  • April 5 2017

Marketplace lenders that use a bank partner should carefully review their relationships in light of recent attacks on this model. As we reported in


Colorado Attorney General Pursues 'True Lender' and 'Madden' Actions Against Major Non-Bank Online Lenders
  • Pepper Hamilton LLP
  • USA
  • April 3 2017

These complaints drive home the importance of closely scrutinizing contractual provisions governing a “bank model” relationship between a


New York Case Is a Win for the Merchant Cash Advance Industry
  • Pepper Hamilton LLP
  • USA
  • March 31 2017

Providers of cash advances repaid by sales of future receivables in New York can have greater confidence that these advances are not loans and are not


OCC's Proposed Licensing Guidelines Treat Fintech Charters Like Any Other National Bank
  • Pepper Hamilton LLP
  • USA
  • March 24 2017

A fintech company considering a National Bank charter will need to consider whether committing to a multi-year Business Plan is feasible in an


Remand Decision in Madden v. Midland Funding Raises Questions Regarding Choice of Law Clauses in Consumer Loan Agreements
  • Pepper Hamilton LLP
  • USA
  • March 7 2017

A careful parsing of state laws should be done if a lender is relying on a choice of law to avoid states that have criminal usury statutes. On