Ohio Department of Commerce mandates licensing for loans under $5K
By EsqSocial Corporation 24/12/24
Recently, the Ohio Department of Commerce issued an alert that nonbank entities receiving compensation for arranging or brokering bank loans of $5,000 or less must obtain a license under the Small Loan Act (SLA). This requirement applies regardless of whether the compensation comes from the borrower or the bank....
By: Orrick, Herrington & Sutcliffe LLP