Company
Upstart
10 published works
The Fintech Report
Fintech Legal Report—Week of June 17, 2022
By Sam Boro, Logan Payne, Dania Assas, Perkins Coie
Weekly Fintech Focus The CFPB terminates a no-action letter with an AI credit underwriter.A CFPB circular confirms that AI underwriting models are subject to anti-discrimination laws including adverse action notices.BNPL…
Credit Chronometer
Conference Replay > How Fintech Is Finally Disrupting Auto Finance
Recently at the Fintech Nexus conference in New York, Joseph Cioffi spoke with Kevin Bennett of Caribou and Michia Rohrssen of UpStart about how Fintech is disrupting auto finance and…
Consumer Finance Monitor
CFPB issues order terminating Upstart no-action letter
The CFPB issued an order last week terminating the no-action letter issued to Upstart Network, Inc. on November 30, 2020 for a 36-month term (NAL). The NAL was essentially a…
Consumer Finance Monitor
CFPB issues new no-action letter to Upstart
The CFPB recently issued a new no-action letter (NAL) to Upstart Network, Inc. regarding its automated model for making underwriting and pricing decisions on applications by consumers for unsecured, closed-end…
Cov Financial Services
The CFPB Issues Second No Action Letter to Facilitate the Use of Alternative Data and Machine Learning in Lending Decisions
By Covington Financial Services
On November 30, 2020, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) granted a no-action letter (“NAL” or “Letter”) to Upstart Network, Inc. (“Upstart”), a company that that has developed…
Consumer Finance Monitor
CFPB gives boost to use of alternative data and machine learning
By Christopher J. Willis, John L. Culhane, Jr.
A new CFPB blog post titled “An update on credit access and the Bureau’s first No-Action Letter” provides a boost to lenders using alternative data and machine learning in their…
The 21st Century Banker
CFPB’s First No-Action Letter: FinTech Lenders and Banks Take Note
By Juan M. Arciniegas, Daniel P. Jackson, James M. Kane, Jennifer Durham King, Daniel C. McKay, II, James W. Morrissey, Maureen O'Brien, Lisa M. Simonetti, Mark C. Svalina
On September 14, 2017, the Consumer Financial Protection Bureau (the “CFPB”) issued its first no-action letter (the “No-Action Letter”) concerning the operations of Upstart Network, Inc. (“Upstart”), a FinTech lender…
MoFo ReEnforcement: The Enforcement Blog
A First Time for Everything—CFPB Issues Its First No-Action Letter
By Don Lampe, Angela Kleine, Sarah Nicole Davis, Crystal Kaldjob
The CFPB recently announced the issuance of its first no-action letter (“NAL”) to Upstart Network, Inc., an online lending platform that uses alternative data to model consumer credit decisioning and…
Consumer Financial Services Review
CFPB Issues No-Action Letter to Alternative Credit Lending Platform
By Melanie H. Brody, Ori Lev, Matthew Bisanz, Kevin J. Healy
The Consumer Financial Protection Bureau (“CFPB”) has issued its first No-Action Letter (“No-Action Letter” or “Letter”) in response to a request from Upstart Network, Inc. (“Upstart”). The No-Action Letter means…
Wisconsin Business Law Blog
Crowdfunding in WI: a Good or Bad Idea?
"Crowdfunding" is a relatively new word. You may have heard of the concept, but may not yet know the word. Crowdfunding is a method by which money is raised to…