Illinois Governor J.B. Pritzker signed the Illinois Predatory Loan Prevention Act (Act) into immediate effect on March 23. The Act imposes sweeping changes and contains broad language, leaving the state’s lenders and...more
On April 23, the Small Business Administration (SBA) informed borrowers, via Question #31 in the Paycheck Protection Program (PPP) Frequently Asked Questions (FAQ), that “all borrowers must assess their economic need for a...more
On January 10, the Consumer Financial Protection Bureau (CFPB) issued a final rule, as mandated by provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA), which requires mortgage lenders to consider...more