Small-Dollar Lenders Under Fire From AGs And CFPB

Law360, New York (February 20, 2014, 4:29 PM EST) -- State and federal regulators are on the march against small-dollar lenders (e.g. payday or installment loan lenders) and it seems they intend to leave as few unscathed as possible. Recent actions have targeted those lenders who choose not obtain a state license in every state from which the lender has customers. Such lenders instead rely on jurisdictional principles like choice of law analysis or federal preemption as the basis for lending in one jurisdiction, but adopting the more favorable laws (and licensing and usury limits) of...
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