Financing

CFPB Targets Auto Financing For Enforcement

by Michael Volkov on 5/14/2013

The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more

Issues Arising in Commodity Inventory Finance

by Philip Antcliffe, Claude Brown | Reed Smith on 5/3/2013

Introduction - The knock-on effects of the global economic crisis have influenced the financing of the commodities trading industry. Changes in the regulatory landscape in Europe and the United States have likewise...more

New Regulations Pave The Way for Increased Employee Owned Companies

by Hugh Nineham, Tara Walsh | McDermott Will & Emery on 3/28/2013

The UK Department for Business, Innovation and Skills (BIS) published on 4 July 2012 the final report from the Nuttall Review of Employee Ownership (the Nuttall Review). It identifies a number of barriers to the creation and...more

How the CFPB’s stance on ECOA in auto finance will raise consumer prices

by Christopher J. Willis | Ballard Spahr LLP on 3/28/2013

Ever since the CFPB’s release of its bulletin relating to disparate impact analysis of dealer rate participation last week, the press and consumer advocacy groups have been buzzing about the Bureau’s stance and its potential...more

Water and Wastewater Projects: Financing with Tax-Exempt Bonds

by Devin Brennan, Stephen Spitz | Orrick, Herrington & Sutcliffe LLP on 3/27/2013

Introduction - Managers of water and wastewater utilities face complex financial challenges. The purpose of this guidebook is to provide an overview of issues relating to the financing of water and wastewater projects...more

Auto dealer trade groups question CFPB guidance

by Alan S. Kaplinsky | Ballard Spahr LLP on 3/25/2013

It seems two major auto dealer trade groups share my doubts about whether the CFPB’s position on dealer rate participation will really help car buyers. In a statement responding to CFPB Bulletin 2013-02, the National...more

Five Things To Know When Contemplating the Issuance of Municipal Debt

by Timothy J. Horstmann, Donna Kreiser | McNees Wallace & Nurick LLC on 3/22/2013

Municipal financings are often perceived as a very complex, and even overwhelming, undertaking. The various rules and regulations which govern the process oftentimes seem complicated and difficult to understand. Keep in mind...more

CFPB Issues Guidance on Indirect Auto Lending ECOA Compliance

by John L. Culhane, Jr., Alan S. Kaplinsky, Christopher J. Willis | Ballard Spahr LLP on 3/22/2013

The Consumer Financial Protection Bureau has issued guidance on fair lending compliance for indirect auto lenders. The guidance targets the practice of “dealer markups.” This practice involves an auto dealer charging the...more

The CFPB previews its coming auto finance fair lending enforcement actions

by Christopher J. Willis | Ballard Spahr LLP on 3/22/2013

Earlier today, the CFPB released its guidance bulletin with respect to automobile indirect finance fair lending issues. The bulletin’s intent is unmistakably clear from the accompanying press release’s tag line: “CONSUMER...more

So this is what the CFPB means about leveling the playing field?

by Alan S. Kaplinsky | Ballard Spahr LLP on 3/22/2013

My colleague, Chris Willis, posted his reaction to CFPB Bulletin 2013-02, which provides guidance as to how the CFPB will apply ECOA and Reg B to dealer rate participation in the auto finance business. Except for Chris’...more

King & Spalding's Measure - The Middle East Quarterly Bulletin - Winter 2013

by King & Spalding on 3/14/2013

In This Issue: - Kingdom of Saudi Arabia – New Mortgage, Real Estate and Financing Laws - Locally Domiciled Funds in the GCC - Case Study: Jabal Omar, Makkah Al-Mukarramah, the Kingdom of Saudi Arabia - New...more

$16 Million Awarded for Breach of Bought Deal Engagement Letter by Dealer

by Kyler Wells | Heenan Blaikie LLP on 3/13/2013

Overview - On March 1, 2013, the Ontario Superior Court of Justice determined that Stifel Nicolaus Canada Inc. (formerly Thomas Weisel Partners Canada Inc.) breached its bought deal engagement letter with Stetson Oil &...more

The CFPB Stretches ECOA Past the Breaking Point with Auto Finance

by Christopher J. Willis | Ballard Spahr LLP on 2/22/2013

In a story released last night, Carter Dougherty at Bloomberg reports that the CFPB has warned “at least four banks” that it may take enforcement action against them under ECOA, alleging that a “policy” of “allowing” dealers...more

Aircraft Financing Commission Dispute – Implied Contract Theory

by Neha Dagley | Schecter Law on 2/22/2013

A contract implied in law, or quasi contract, operates where there Is no contract in place to provide a remedy where one party is unjustly enriched, and where that party received a benefit under circumstances that made it...more

Spotlight on Tennessee: Factoring Transactions Are Not Subject to Related Party Intangible Expense Add-Back Statute

by Baker, Donelson, Bearman, Caldwell &... on 2/13/2013

In 2012, Tennessee amended the excise tax statute to require prior approval before allowing intangible expenses to be deducted from net earnings for intangible expenses paid by one related party to another related party. In...more

Event: Update and Outlook on Tax & Financing Landscape for Clean Energy (Boston, MA)

by Mintz Levin - Energy & Clean Technology on 2/1/2013

The fiscal cliff tax deal reached on January 1st, 2013 has made permanent changes to the tax code that will affect the clean energy industry. This Thursday, January 31, 2013, the New England Clean Energy Council will host a...more

California District Court Holds Assignee Indirect Auto Finance Company Not Subject To FDCPA

by BuckleySandler LLP on 1/24/2013

On January 9, the U.S. District Court for the Central District of California held that an indirect auto finance company that took assignment of a retail installment sales contract from an automobile dealer is not a debt...more

HUD Obtains First Settlement Under Rule Requiring Sexual Orientation And Gender Identity Equal Access

by BuckleySandler LLP on 1/14/2013

On January 2, HUD announced that a lender agreed to settle a claim that it refused to provide FHA financing to a lesbian couple. HUD noted that the agreement is the first enforcement action taken under a rule finalized in...more

CFPB lawyer discusses disparate impact in auto financing and says important development to happen soon

by Alan S. Kaplinsky | Ballard Spahr LLP on 1/10/2013

At the ABA Consumer Financial Services Committee meeting earlier this week, Rick Hackett, Assistant Director of the Research, Markets and Regulations Division of the CFPB, spoke about “Discretionary Pricing in Indirect Auto...more

The American Taxpayer Relief Act of 2012: Stealth Impact on Charities

by Elizabeth Mills | Proskauer - Not for Profit/Exempt... on 1/5/2013

The American Taxpayer Relief Act of 2012 (“TRA”) (H.R. 8) passed by the Senate on January 1, 2013, passed by the House of Representatives early on January 2, 2013 and signed by President Obama, in large part addresses income...more

Agenda Setting - Olympia’s new faces must address transportation infrastructure funding

by Grant Degginger | Lane Powell PC - Construction Law on 1/4/2013

January brings many new faces to Olympia. A new governor and an unusually large number of new members in the State House of Representatives and State Senate who have both volunteered and been elected to assume the mantle of...more

Focus on Public Policy - January 2013: Quebec Political Financing Changes Come Into Force

by Cyrus Reporter | Dentons on 1/4/2013

This past Tuesday marked the coming into force of Quebec’s Bill N°2: An Act to amend the Election Act in order to reduce the elector contribution limit, lower the ceiling on election expenses and increase public financing of...more

The Fiscal Cliff for Condominium Developers

by Kristi Stotts | Winstead PC on 12/31/2012

Heard enough about the fiscal cliff? Condominium developers should take into consideration the potential liability for assessments on developer owned condominium units when structuring condominium regimes to avoid their own...more

Development and Opportunities in the Turkish Market - December 2012

by Meltem Akol, Charlie Lightfoot | White & Case LLP on 12/19/2012

The Turkish government’s agenda for development is one of the most ambitious in the world. Combined with investor friendly changes in the market, including a new investment incentive regime and new regulation enhancing...more

Funding for New Biobased Chemical Plants May Be Found Overseas, ACORE Official Says

by Mintz Levin - Energy & Clean Technology on 12/19/2012

Originally published in the Daily Environment Report on November 15, 2013. PHILADELPHIA–Finding funding to build new facilities to produce biobased chemicals and biofuels is challenging in the current economic...more

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