Revolution or Regulations? Fintech’s Future After the Avant and Marlette Settlements

Do the Avant and Marlette settlements make consumers safer or was it simply a win on paper for Colorado’s attorney general? Fintech attorney and Tech on Reg podcast host Dara Tarkowski seeks answers from financial experts Mary Jackson and Ed Gehres. Colorado’s attorney general (AG) settled lawsuits against fintech companies Avant and Marlette Funding after a protracted legal battle. The lawsuits alleged the companies illegally partnered with two out-of-state banks to provide loans with annual percentage rates (APRs) above Colorado’s limit.  While the AG’s actions focused on consumer protection, fintech experts Mary Jackson and Ed Gehres argue the settlement favors…...