We have covered the Madden vs. Midland Funding case in depth over the last year. It is centered around exporting interest...
We have been covering the Madden issue for several years here on Lend Academy (the full list of coverage is...
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There were some new developments in the Madden case, something we have been following for many years here on Lend...
The Madden v. Midland case has been a closely followed case for over two years by the marketplace lending industry; bills are now being introduced to hopefully fix the ambiguity around the case; Lend Academy shares the history of the case and perspectives from Adam Levitin, professor of law at Georgetown University, Nat Hoopes, executive director of the Marketplace Lending Association, and Brian Korn, partner at the law firm Manatt, Phelps & Phillips. Source
[Editor’s note: This is a guest post from Brian S. Korn, a Capital Markets Partner at the law firm Manatt, Phelps...
The Madden v. Midland case has been a topic many lenders have been following closely for over two years. Our...
Madden v. Midland has been proceeding since 2015; Judge Cathy Seibal of the US District Court for the Southern District of New York issued a decision in the case on February 27; Manatt, Phelps & Phillips, LLP provides their insight on the court's decision; the central focus of the case is on the inconsistency between the issuing lender (New York) and Midland Funding, the debt collector, (Delaware); the judge ruled in favor of the borrower in default setting a precedent for better alignment between rates of issuing lenders and the loan's affiliated debt collectors. Source
The House Financial Services Committee will have hearings next month to address regulations related to loans being sold across states;...
The Protecting Consumers’ Access to Credit Act of 2017 was passed by the US House of Representatives. Source
Nathaniel Hoopes, head of the Marketplace Lending Association shares how the Madden v. Midland decision is having an adverse impact on borrowers in an American Banker opinion article. Source