Justice reportedly pushes banks to settle over online lending links

09/26/2013 | AmericanBanker.com (free registration)

The Justice Department is pushing banks involved in an investigation of their relationships with online lenders to settle, sources say. About 50 banks and third-party payment processing companies have received subpoenas related to an investigation of how banks process customer payments for the lenders. Investigators reportedly want to reach a settlement with one bank and use it as a template for talks with other banks.

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