The U.S. Regulatory Environment for Online Small-Business Lending
Author: Jennifer Ballard.; Catherine Brennan.; Conor French.; Eric Johnson.
Source: Volume 34, Number 02, February 2018 , pp.9-13(5)
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Abstract:
Small-business lenders that proceed online must confront a variety of issues under state and federal laws. The authors discuss in particular exemptions from the TILA for business loans, consumer laws that may apply, and licensing and usury issues. They also address electronic contracting and the new reporting requirements under Section 1071 of the Dodd-Frank Act.Keywords: Business-Purpose Lending; Licensing and Usury Issues; Section 1071 of The Dodd-Frank Act
Affiliations:
1: MarketCounsel; 2: Hudson Cook, LLP; 3: Funding Circle; 4: Hudson Cook, LLP.