News & Analysis as of

Lenders Proposed Legislation

NY Licensing Proposal Threatens New Burdens on Financial Services Providers, Reduced Credit Availability

by Ballard Spahr LLP on

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

New Italian rules to permit direct lending by alternative investment funds to Italian companies

by White & Case LLP on

On February 14, 2016, the Italian Government approved Law Decree No. 18/2016 (the “Decree”) which sets out, inter alia, the direct lending regime by EU alternative investment funds (“AIFs”) to Italian borrowers. The...more

California Highway Patrol seeks to eliminate identity theft in vehicle purchases with proposed new thumbprint requirement

by Thompson Coburn LLP on

Every year, millions of dollars are lost by finance companies and dealerships due to fraud and identity theft related crimes. Even worse, due to the lack of accurate personal information on an identity theft suspect,...more

Bill Would Authorize Payments For Commercial Loan Referrals

by Allen Matkins on

California State Senator Marty Block has introduced a bill, SB 197, that would authorize a licensed finance lender to compensate an unlicensed person or company in connection with the referral of one or more prospective...more

Holder Vows To Continue Operation Choke Point; House Considers Bill To Stop It

Depending on whom you ask, Operation Choke Point has a promising future ahead of it – or will soon be history. The controversial initiative by the Department of Justice (DOJ) is intended to limit certain lenders and...more

Bill Proposes Significant Changes To Finance Lenders Law

by Allen Matkins on

If you are in the business of making loans in California, there’s a good chance that you need a license. Some lenders are licensed under the Real Estate Law while others are licensed under laws governing banks, credit unions...more

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

Lenders in Illinois might want to take note of pending Illinois House Bill 2804. The bill would amend the Mechanics Lien Act, so as to allow “bonding off” of mechanic liens for the first time in Illinois. Nearly every state...more

Lawmakers Seeking to Make New Jersey’s Foreclosure Mediation Program Permanent

by Daniel Brecher on

Lawmakers Seeking to Make New Jersey’s Foreclosure Mediation Program Permanent by Dan Brecher on November 7, 2012 The New Jersey Legislature is currently considering a bill that would codify the New Jersey’s Foreclosure...more

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