Banks providing ACH services to online payday lenders have been threatened by federal and state regulators and enforcement authorities and sued in class actions. NACHA has proposed rules that will make it difficult for payday lenders—including lenders that comply with all state laws—to receive ACH services. But the implications of these developments are not limited to payday lenders and their banks.

Topics

  • Regulatory attacks and private class actions against banks doing business with online payday lenders
  • Proposed NACHA rule changes 
  • Implications for online and storefront lenders 
  • Implications for mainstream lenders and originating depository financial institutions providing ACH services (ODFIs) 

Program

12:00 PM - 1:00 PM ET | Webinar

Moderator

Alan S. Kaplinsky, Practice Leader
Consumer Financial Services Group

Presenters

Jeremy T. Rosenblum, Practice Leader
Consumer Financial Services Group

Mark J. Furletti
Consumer Financial Services Group

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa Prickril at prickrill@ballardspahr.com.

Related Practice

Consumer Financial Services