Nonbank/financial partnerships are presently less than siege away from numerous tips
Delivering the new keynote address a week ago within Individual Federation of America’s 2022 Individual System, CFPB Deputy Movie director Zixta Martinez revealed that brand new CFPB “is bringing a closer look” from the “‘rent-a-bank’ techniques.”
Deputy Manager Martinez mentioned you to definitely “[s]ome loan providers you will need to have fun with [matchmaking with banking companies] in order to avoid state interest rate caps and you will certification laws and regulations by creating claims that lender, as opposed to the non-financial, is […]