Fintech Law: A Dynamic Space

Fintech Law: A Dynamic Space

For many years, banks have partnered with Fintech companies to offer online loans to consumers. Some of these bank partnerships have been challenged by consumer advocates through so-called “true lender” litigation in state and federal courts, by state regulators, and through criminal prosecutions. The crux of the true lender challenge is that, at the time a loan is originated, the lender on the face of the loan paper, the bank, is not the true lender. Rather, the true lender is the Fintech company that marketed and sold the financial product or service to the consumer. If a true lender […]

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