Another Maryland threat to bank partner model lending
CFPB Monitor
MAY 6, 2021
The OCFR claims that the Bank’s failure to hold the required lending licenses makes the loans unenforceable and prohibits Atlanticus/Fortiva from collecting any amounts on the loans. In 2016, the OCFR brought an enforcement action against CashCall, a nonbank operating a high-rate bank model program. million in penalties against CashCall.
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