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Predatory ‘Rent-a-Bank’ Lending Practices Trigger Calls For Regulation

PYMNTS

OppLoans, for example, partners with a Utah bank and charges an average of 199 percent, according to its website. Utah has no caps on interest rates. “A ” An uprush in predatory lending has prompted more states to institute interest rate caps. It is currently charging 160 percent on a typical California loan, the WSJ said.

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CFPB makes preliminary determinations that Truth in Lending Act does not preempt New York, California, Utah, and Virginia commercial financing disclosure laws

CFPB Monitor

In a notice of “ Intent to Make Preemption Determination under the Truth in Lending Act (Regulation Z) ,” the CFPB announced that it is seeking comments on its preliminary determinations that the Truth in Lending Act (TILA) does not.

Lending 147
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Utah: The fintech frontier

BankInovation

Fintechs looking to expand beyond their Bay Area or New York City headquarters have welcomed an unlikely visitor in recent years: Utah Gov. The governor is a great salesperson,” said Val Hale, executive director for the Utah Governor’s Office of Economic Development. Gary Herbert. “The

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I Can’t Connect to E-Tran – What Now?

Abrigo

The SBA Utah District Office , for example, has established a Rapid Response Team with the Governor’s Economic Recovery Task Force to handle the requests. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. SBA Lending. Learn More. Learn More.

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Banking Strategies: Should We Look to Utah?

Jeff For Banks

Just this month I taught Bank Profitability at the Utah Bankers'' Association Executive Development Program. Utah, home of the Industrial Bank, is the epicenter of niche banking. And yes, why can''t we learn from the 31 active Industrial Banks from Utah? On top of the list was a niche bank, BofI Holdings, Inc. What do you think?

Utah 87
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Auto lending up more than 30 percent at credit unions since 2012

Abrigo

And just as in mortgage lending , credit unions are seeing a bigger piece of the consumer loan pie. credit union auto lending portfolios are faring. Across the country used vehicle loans nearly doubled their new counterparts by lending volume. billion as of September 30, 2014) and used vehicle lending ($5.2

Lending 150
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CFPB determines Truth In Lending Act does not preempt New York, California, Utah, and Virginia commercial financing disclosure laws

CFPB Monitor

The CFPB has issued a determination that the Truth in Lending Act (TILA) does not preempt the commercial financing laws of New York , California , Utah, and Virginia. The determination will be effective on the date it is published in the Federal Register.

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