News & Analysis as of

U.S. Treasury Lending

Cadwalader, Wickersham & Taft LLP

Yellen Calls on World Bank to Take Decisive Action on Climate Change

On February 9, 2023, Treasury Secretary Janet Yellen spoke at the Center for Strategic and International Studies, urging the World Bank to “evolve” and be “bolder and more imaginative” in its operational approach to tackling...more

Sheppard Mullin Richter & Hampton LLP

AZ Attorney General Concludes Non-Recourse EWA Not a Loan

On December 18, the Arizona Attorney General issued an opinion on earned wage access (EWA), which determined that fully non-recourse EWA products do not constitute consumer loans subject to consumer loan regulations, and...more

Cadwalader, Wickersham & Taft LLP

President Biden’s Greenbook Provides Clarity on Digital Asset Taxation

The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals (the “Greenbook”), which elaborates on revenue proposals in President Joe Biden’s Fiscal Year 2023 Budget Proposal,...more

King & Spalding

US Dollar Term SOFR is Here – Why is This Different and How Does it Affect My Loan?

King & Spalding on

On July 29th, 2021, the Alternative Rates Reference Committee (the “ARRC”) formally recommended the adoption of CME Group’s forward-looking Secured Overnight Financing Rate (“SOFR”) term rates. According to the ARRC, this...more

McDermott Will & Emery

Are Crypto Loans Taxed as Loans?

Transactions involving the borrowing and lending of units of virtual currency (or crypto loans) are increasing in number and type. Lacking Treasury or IRS guidance with respect to crypto loans, potential tax issues that arise...more

Eversheds Sutherland (US) LLP

Federal Reserve and Treasury announce new Main Street Lending Program

On April 9, 2020, the Federal Reserve and Treasury announced a package of new financial assistance programs to provide up to $2.3 trillion in loans to support the U.S. economy pursuant to its own authority and the Coronavirus...more

Morrison & Foerster LLP

U.S. Treasury Department Report on Core Principles for Regulating the United States Financial System

As required by the President’s Executive Order 13772 setting forth the core principles that should be taken into account in connection with the regulation of the U.S. financial system, the U.S. Treasury Department published a...more

Locke Lord LLP

U.S. Treasury Department Requests Information on Online Marketplace Lending

Locke Lord LLP on

On Monday, July 20, 2015, the United States Treasury Department (UST) published a notice and request for information (RFI) in the Federal Register in order to request public comment on online marketplace lending. The RFI...more

Orrick, Herrington & Sutcliffe LLP

Treasury Request for Public Input on Expanding Access to Credit through Online Marketplace Lending

On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more

Ballard Spahr LLP

Treasury Department Seeks Information on Online Marketplace Lending

Ballard Spahr LLP on

The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more

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