News

February 22, 2019

Catherine Brennan quoted in Bank Business article on community banks and payday lending

Bank Business interviewed partner Catherine Brennan for a recent article on how community banks may now be able to offer consumers an alternative to payday loans from non-banks. In May 2018, the Office of the Comptroller of the Currency (OCC) issued a bulletin encouraging banks "to offer short-term, small dollar installment loans, typically two to 12 months in duration with equal amortizing payments," said Catherine.

Catherine added, "In all programs, the OCC cautions that its member banks should offer lending products in a manner that ensures fair access to financial services and fair treatment of consumers and complies with applicable laws and regulations."

Catherine primarily assists investors in the consumer financial services and alternative business funding sectors. She engages in credit due diligence on behalf of investors in fintech firms, bank partnership platforms, small business lenders, merchant cash advance companies, consumer finance companies, title loan companies and payday lenders.

Click here to read the full Bank Business article.


Hudson Cook, LLP, provides articles, webinars and other content on its website from time to time provided both by attorneys with Hudson Cook, LLP, and by other outside authors, for information purposes only. Hudson Cook, LLP, does not warrant the accuracy or completeness of the content, and has no duty to correct or update information contained on its website. The views and opinions contained in the content provided on the Hudson Cook, LLP, website do not constitute the views and opinion of the firm. Such content does not constitute legal advice from such authors or from Hudson Cook, LLP. For legal advice on a matter, one should seek the advice of counsel.