Although CCBank’s loan programs with national consumer loan FinTechs have been referred to by certain commentators and media outlets as “Rent-A-Bank schemes," this characterization cannot be further from the truth. These programs are subject to significant FDIC and Utah Department of Financial Institution oversight and regulation. These unfortunate and frankly lazy names coined by those opposed to bank lending programs with FinTechs falsely imply that there is a lack of bank engagement in these programs, a complete outsourcing of the bank’s lending authority, and a lack of bank regulatory oversight over the programs—none of which is true. CCBank appropriately manages and oversees all our loan products and FinTech relationships.