Web Banks
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  1. 07-09-2014, 11:54 AM #1
    Vinnyd
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    Web Banks

    Does anyone know the names of the web banks that many of the lenders use?
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  2. 07-09-2014, 11:55 AM #2
    Capital Stack
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    whats the purpose
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  3. 07-09-2014, 12:00 PM #3
    Vinnyd
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    Just wondering who the "fronting" banks were in this industry. I think its web bank and bank of the internet but I am not sure who uses them
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  4. 07-09-2014, 01:13 PM #4
    AndyYSCISOdept
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    Im not sure what you are referencing would you care to enlighten me?
    Andrew J. McDonald
    Director of ISO Development
    Yellowstone Capital LLC
    1 Evertrust Plaza
    Suite 1401
    Jersey city, NJ 07302
    PH - 347.464.0785
    FX - 646.213.1790
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  5. 07-09-2014, 03:30 PM #5
    jbrown
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    Vinnyd you are correct. ODC and CAN use a 3rd party bank and export the bank charter to protect from usury. The downside is the regulators can extend their oversight to all 3rd party relationships. Imagine the nightmare if you are ODC or CAN and the regulators want to audit you.
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  6. 07-09-2014, 04:05 PM #6
    Chambo
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    Yeah, imagine is a disgruntled ex employee were to make a certain phone call....
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