Topic
True Lender Doctrine
72 published works
Consumer Finance Monitor
California DFPI Appeals Trial Court Decision Rejecting Its “True Lender” Theory in OppFi Case
By John L. Culhane, Jr., Alan S. Kaplinsky, Adam Maarec, Joseph J. Schuster, Ronald K. Vaske
The California Department of Financial Protection and Innovation (DFPI) has taken the next step in its challenge to a bank-fintech lending program by appealing the Los Angeles County Superior Court’s…
Consumer Finance Monitor
Today’s podcast episode: “True Lender” Doctrine Back in the Spotlight: Key Takeaways on OppFi v. Hewlett Tentative California Superior Opinion
The latest episode of the Consumer Finance Monitor Podcast being released today tackles one of the most consequential developments in bank–fintech litigation in recent years: the Los Angeles Superior Court’s…
Consumer Finance Monitor
California Court Grants Summary Judgment to OppFi, Rejects DFPI “True Lender” Theory
By Alan S. Kaplinsky, Joseph J. Schuster
In a very significant and potentially precedent-setting February 24, 2026 decision, the Los Angeles County Superior Court (Hon. Gary D. Roberts) issued a tentative decision granting summary judgment in favor…
Consumer Finance and Fintech Blog
Massachusetts AG Forces Fintech from State as Part of “True Lender” Settlement
By Moorari Shah, A.J. Dhaliwal, Mehul Madia
On May 21, the Massachusetts Attorney General entered into an Assurance of Discontinuance (“AOD”) with a California-based fintech alleging that it was the “true lender” of its consumer installment loans. Under…
Consumer Finance Monitor
Ninth Circuit: Arbitration clause prevails in “true lender” challenge against OppFi
By Mindy Harris, Kristen E. Larson, Mark J. Levin, Alan S. Kaplinsky, Ballard CFS Group
In a recent unpublished memorandum opinion in a putative class action, Carpenter et al. v. Opportunity Financial, LLC, the U.S. Court of Appeals for the Ninth Circuit upheld an arbitration…
Consumer Finance Monitor
Washington state “true lender” law signed, effective June 6, 2024
By Mindy Harris, John L. Culhane, Jr., Ronald K. Vaske
After its passage by the Washington state legislature, Substitute Senate Bill (SSB) 6025, the Washington “predatory loan prevention act”, was approved by Governor Jay Inslee on March 25, 2024, with…
Consumer Finance and Fintech Blog
Washington State Passes New “True Lender” Legislation
By A.J. Dhaliwal, Mehul Madia, Brandon Mohamad*
On March 25, Washington State became the latest in a growing list of jurisdictions to introduce a “true lender” law with the passing of bill SB 6025. The legislation, similar…
Consumer Financial Services Law Monitor
Rhode Island and Minnesota Latest States with Bills Opting Out of Federal Banking Law Allowing Interest Rate Exportation
By Jason Cover, Caleb Rosenberg, Jeremy Rosenblum, Taylor Gess, Melanie Griffith
On February 12, ten Rhode Island senators introduced S 2275, a bill proposing to opt Rhode Island out of §§ 521-523 of the Depository Institutions Deregulation and Monetary Control Act…
Consumer Finance and Fintech Blog
More States on the Cusp of Enacting “True Lender” Laws
By Moorari Shah, A.J. Dhaliwal, Mehul Madia
More “true lender” laws are coming, as legislative bodies in Washington, Maryland, and the District of Columbia have introduced bills that would severely impact bank partnership arrangements. If adopted, the…
Consumer Finance Monitor
“True Lender Act” Bill Proposed in Maryland
By Mindy Harris, John L. Culhane, Jr., John D. Socknat, Ronald K. Vaske
Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps…