Cadwalader allows sharing content.
Email to a friend or colleague:
Last week, Colorado courts issued several new rulings related to marketplace lending. First, the federal court in Colorado remanded another enforcement action brought by the Administrator of the Colorado Consumer Credit Code against Marlette Funding (“Marlette”), which had been doing business as a marketplace lender in Colorado under the name Best Egg. Second, the federal court dismissed two parallel actions brought in federal court brought by WebBank and Cross River Bank to halt the state court proceedings. These recent rulings illustrate the risks that persist in some states for marketplace lenders utilizing the bank origination model.