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Maryland Commissioner of Financial Regulation Charge Letter Against Unlicensed Entities (Fortiva Financial, et. al.)

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This is a charge letter sent by the Maryland Commissioner of Financial Regulation to Fortiva Finanical, Bank of Missouri, and Atlanticus warning them of an administrative hearing concerning unlicensed lending activity involving instalment loans.  Even if Bank of Missouri was the true lender, and could avoid the licensure requirement, Fortiva and Atlanticus under Maryland law were required to obtain a license to assist consumers in obtaining a loan extension and to collect on such loans.

Related NCLC Treatise:

Consumer Credit Regulation

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