Newsletter Sent On: 07/23/2018

California Bill May Disadvantage Small Brokers Read more

Join The Industry in San Diego On October 4th
Buy tickets to deBanked CONNECT San Diego. At the Andaz in San Diego, deBanked will bring together brokers, funders, and folks from the MCA and small business lending industry for an evening of education, networking, and cocktails. This is a half-day event. Read more

DFS Releases Recommendations for Online Lending
"Many online lenders remain unlicensed in New York with no direct supervisory oversight from a safety and soundness or consumer compliance perspective," the report reads. "Direct supervision and oversight is the only way to ensure that New York’s consumers and small business owners receive the same protections irrespective of the channel of delivery [of financing.]" Read more

How to Avoid Being Sued by a Professional TCPA Plaintiff
Did you know that if you receive an unwanted solicitation call on your private cell phone or residential landline, you can win between $500 and $1,500 in damages from the offending company? The company can be charged for violating a statute of the 1991 Telephone Consumer Protection Act (TCPA), which prohibits companies from calling consumers without their express permission. You might not know about this, but others know about it all too well. Read more

Crypto and Blockchain Added to 2019 CFA Exam
Horan told deBanked that the institute decided to add cryptocurrencies and blockchain to the curriculum for level 1 and 3 curriculums because they got feedback from people working in the industry that it was relevant. Read more

Australia Brimming with Alternative Lending Activity
OnDeck, others make waves in Australia Read more

Interest in Equipment Finance M&A is Strong
Interest in mergers and acquisitions (M&As) in the equipment finance industry has been high in the first half of 2018, according to The Alta Group, a consultancy dedicated to equipment leasing and asset finance. Read more

Commercial Financing Disclosures Bill – June 25 CA Assembly Debate, Video, and Transcript
The full transcript: Senate Bill 1235 would give to small business owners many of the same protections that our country’s truth in lending laws have given consumer borrowers for more than half a century. This bill would require lenders and finance companies to provide clear and consistent disclosure to small business owners when they offer them financing and when they close a deal.

Like Bureau of Consumer Financial Protection, Court Declares FHFA Unconstitutional
This week, the Court of Appeals for the Fifth Circuit made a ruling against the Federal Housing Finance Agency (FHFA) for the same reason – because it deemed the agency to be unconstitutional based on its single directorship structure. Read more

Bureau of Consumer Financial Protection Hires Fintech-Knowledgeable Attorney to Lead New Innovation Office
Acting Director of the Bureau of Consumer Financial Protection (Bureau) Mick Mulvaney announced this week that he has chosen Paul Watkins to lead the bureau’s new Office of Innovation. Read more

Coinbase Says It Now Has Regulatory Approval to List Security Tokens
Via Coindesk Read more

LendingClub Appoints Ronnie Momen as Chief Lending Officer
Momen will oversee LendingClub's credit strategy including the use of credit data, analytics and innovative products to extend LendingClub's lead in the industry by continuing to unleash the power of the marketplace to offer affordable rates to borrowers and deliver quality returns to investors. Read more

Get Certified in MCA Basics
Make sure you know how MCAs really work before you sell them Read more

LendingTree, Inc. Announces Agreement to Acquire Student Loan Hero
The acquisition of Student Loan Hero is a strategic transaction that will allow LendingTree to quickly scale our Student Loan business, said Doug Lebda, founder and CEO of LendingTree. Read more

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