[Editor’s note: This is a guest post from Brian S. Korn, a Capital Markets Partner at the law firm Manatt, Phelps & Phillips,...
Perhaps it’s true that money can’t guarantee a lifetime of happiness, but one thing that is fairly certain, personal bankruptcy...
A proposed settlement in the Madden vs Midland case has been filed that would provide $9.8 million in cash and debt...
American Banker has published a rebuttal to a recent article about the “Madden fix bill” by Steve Astrada; article discusses how the bill will increase access to credit and benefit customers instead of increasing predatory lending; it also shares the consequences of the Madden decision and reviews the details of the case. Source
The issue of “true lender” has been one that has dogged the marketplace lending industry virtually since its inception. When...
The US District Court for the Southern District of New York issued a decision in Madden v. Midland Funding, LLC; in determining whether New York or Delaware law governed the contractual relationship of the parties, the judge ruled that applying Delaware law would violate usury policies in New York which limit interest to 25% per year. Source
We have been following the Madden v. Midland Funding case as it makes its way through the court system. Yesterday,...
Brian Brooks became the Acting Comptroller of the Currency last Friday and he hit the ground running; he issued a...
[Editor’s Note: We recently covered in depth what is going on with marketplace lending and regulation in a podcast with Brian...
The Madden saga has been plaguing the marketplace lending industry for years now. We have covered this issue on Lend...