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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Chinese walls? Germany reinforces the control of foreign investments

by Hogan Lovells on

On 12 July 2017, the German Federal Government significantly reinforced the barriers for the acquisition of German companies by non-EU companies. The new Regulation for the Amendment of the Foreign Trade and Payments...more

Justice Department Settles with Michigan Credit Union for Violations of the Servicemembers Civil Relief Act

by Ballard Spahr LLP on

The U.S. Department of Justice (DOJ) announced last week that it reached an agreement with Michigan-based COPOCO Community Credit Union to settle a lawsuit alleging that the credit union violated the Servicemembers Civil...more

Top commercial space developments in 2017 for ADG companies

by Hogan Lovells on

Thinking big and small(sat) satellites - The Huffington Post recently identified “Top 10 Tech Trends Transforming Humanity.”1 The first of these transformative tech trends was labeled “we are hyper-connecting the world”...more

CFPB settles with military financing company for alleged TILA/EFTA disclosure violations

by Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with Military Credit Services, LLC, a company providing revolving credit to military consumers, to settle allegations that the company’s open-end credit agreements...more

DoD Publishes Guidance on MLA Amendments

With the July 2015 amendments to the Military Lending Act (MLA) set to take effect on October 3, the Department of Defense (DoD) published an interpretive rule to help financial institutions achieve compliance with the...more

Pennsylvania AG Sues Financial Services Company for Defrauding Veterans

by Goodwin on

On May 5, 2016, the Pennsylvania Attorney General announced the filing of a civil lawsuit in the Clinton County (PA) Court of Common Pleas against an Ohio financial services company and its owner for misleading at least four...more

Trade groups seek clarifications to Military Lending Act regulations

by Ballard Spahr LLP on

A number of prominent industry trade groups have written to the Department of Defense (DoD) seeking clarifications to the Military Lending Act (MLA) final rule adopted in July 2015 that dramatically expanded the scope of the...more

Corporate E-Note - February 2016

by Burr & Forman on

With the start of the 2016 tax reporting season, taxpayers making certain payments to a person or entity with a Tennessee address may find that Tennessee has added to the number of information returns they need to...more

Corruption’s Impact on the Rule of Law & Security: Moving from the Vicious to the Virtuous

No country is free from the risk of corruption, but from Ukraine to Afghanistan, from Nigeria to Iraq, the tide is turning on the acceptance of corruption as a benign issue that ‘greases the wheels of bureaucracy.’ Rather,...more

Director Corday testifies before House Committee on Financial Services

by Ballard Spahr LLP on

On Wednesday, September 29, CFPB Director Richard Cordray appeared before the House Committee on Financial Services to answer questions regarding the Bureau’s activities since March. Director Cordray used his introductory...more

Revised Military Lending Act Rules Impose New Compliance Obligations on a Wide Variety of Creditors

by Davis Wright Tremaine LLP on

The Department of Defense (DOD) recently finalized amendments to its Military Lending Act (MLA) regulations that impose new compliance obligations on a wide variety of creditors, including issuers of credit cards and...more

Confidentiality Agreements of Federal Contractor Employees – Changes To The Federal Acquisition Regulations Are Coming Soon

Confidentiality agreements for employees of federal contractors are increasingly coming under scrutiny by federal agencies. In late 2014, as part of the Consolidated and Further Continuing Appropriations Act (the “Act”),...more

U.S. Implements Targeted Sanctions on Venezuela

On March 9, 2015, following failed diplomatic efforts to bring Venezuela in line with its human rights commitments under international law, President Obama issued an Executive Order (E.O.) declaring Venezuela a national...more

EU sanctions against Russia: New targets and state of play

by DLA Piper on

On 9 February 2015, the EU Foreign Affairs Council imposed new sanctions - asset freezes and travel bans - against 19 Russian and Ukrainian individuals and 9 entities that have been added to the 'black list' of sanctioned...more

Auto Lease Cash Capitalized Cost Reduction Payment Refundable under SCRA, Maryland Federal Court Rules

by Ballard Spahr LLP on

In connection with a motion to dismiss, a Maryland federal district court has ruled that the cash “capitalized cost reduction” (CCR) payment allegedly made by a military servicemember upon signing his auto lease was...more

CFPB Action Against Payday Lender to be Followed by New Military Lending Act Regulations

by Foley & Lardner LLP on

On November 20, 3013, the Consumer Financial Protection Bureau announced its first enforcement action against a payday lender. Cash America International was fined $5 million and was ordered to refund $14 million to its...more

Proposal to expand Military Loan Act coverage appears likely

by Ballard Spahr LLP on

Based on testimony to a Senate Committee last week by Holly Petraeus, CFPB Assistant Director with the Office of Servicemember Affairs, it looks very likely that an expansion of Military Loan Act coverage will be among...more

CFPB Issues Examination Procedures for Military Payday Lending

by Goodwin on

The CFPB issued updates to its examination procedures for payday lending. The updated examination procedures include guidance for examiners of payday lenders that make loans to servicemembers, including reviewing for...more

Much to do about nothing? CFPB guidelines, servicemembers and payday lending

by Ballard Spahr LLP on

Amid fanfare about its commitment to the protection of the military, the CFPB has released new guidelines to assist its examiners regarding payday and title loans to military servicemembers and their dependents. “Protecting...more

The SCRA and Student Loans—Senate Hearings Highlight Agency Collaboration on Investigative and Enforcement Activities

by King & Spalding on

Congress enacted the Servicemembers Civil Relief Act (SCRA or “Act”), a law whose origins date back to the Civil War, to strengthen the national defense through certain protections provided to servicemembers. By protecting...more

DOJ confirms investigation of private student loan SCRA violations

by Ballard Spahr LLP on

As we reported, in the CFPB’s “Mid-year snapshot of private student loan complaints” on complaints the CFPB received from October 2012 through March 2013, one of the top servicing issues reported by consumers was the...more

Banking industry trade groups oppose expansion of Military Loan Act coverage

by Ballard Spahr LLP on

Six banking industry trade groups, including the American Bankers Association, the Consumer Bankers Association and the Financial Services Roundtable, have sent a comment letter responding to a Department of Defense (DOD)...more

The SCRA and Motor Vehicles - Auto Loans Vroom into the Forefront of Enforcement

by King & Spalding on

In 2003, Congress passed the Servicemembers Civil Relief Act (SCRA or “Act”), which updated and replaced the Soldiers’ and Sailors’ Civil Relief Act. The SCRA has been described as the “greatest single statutory source of...more

CFPB issues report on servicemember complaints

by Ballard Spahr LLP on

The CFPB’s Office of Servicemember Affairs has issued a report on complaints submitted by servicemembers, veterans or their spouses and dependents (“servicemember complaints”) over the period from January 1, 2012 through...more

TBTF Servicing: Another Issue for Originators to Consider

by Bilzin Sumberg on

As widely reported recently, close to 1.2 million borrowers (about 30% of the more than 3.9 million households that faced foreclosure proceedings by the 11 leading financial institutions in 2009 and 2010), had to battle...more

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