Client Alert

FDIC Action Is a Reminder that Bank Partnerships Are Not a Panacea for Non-Banks

19 May 2017

On May 11, 2017, the Federal Deposit Insurance Corporation announced that it had reached settlements with Bank of Lake Mills and two of its "institution-affiliated parties"—Freedom Stores, Inc. and Military Credit Services, LLC—for allegedly engaging in unfair and deceptive practices in violation of Section 5 of the Federal Trade Commission Act.

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