We have been following closely efforts by state regulators, state legislatures and the courts to restrict, or in some cases prohibit, bank model lending programs, so the recent guidance from the Vermont Department of...more
10/9/2018
/ Banking Sector ,
Consumer Financial Products ,
Exemptions ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Licensing Rules ,
Regulatory Oversight ,
Regulatory Requirements ,
Solicitation/Distribution Policies ,
State and Local Government
Proposed legislation to implement New York Governor Andrew Cuomo's 2018 Fiscal Year Executive Budget would amend the New York Licensed Lender Law to significantly extend its licensing requirements. The proposal threatens to...more
2/15/2017
/ Banking Sector ,
Consumer Lenders ,
Financial Services Industry ,
FinTech ,
Lenders ,
Licensing Rules ,
Loans ,
National Bank Charters ,
NYDFS ,
Proposed Legislation ,
Regulatory Oversight
The U.S. Court of Appeals for the Third Circuit has ruled that Pennsylvania’s recording statute does not require the recording of all conveyances. As a result, the Third Circuit reversed the district court’s refusal to enter...more
8/7/2015
/ Banking Sector ,
Banks ,
Class Action ,
Declaratory Judgments ,
Deeds ,
Financial Institutions ,
Lenders ,
MERS ,
Mortgage Lenders ,
Mortgages ,
Recording Fees
The U.S. District Court for the Northern District of California has held that Section 22340(a) of the California Financial Code does not restrict licensed finance lenders to selling loans secured by real estate to only...more