Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs.
The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed Monday steps for banks and debt parties to evade state interest rate caps.
The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.