Three California laws that affect fintech companies will go into effect on January 1, 2021. The California Consumer Financial Protection Law (CCFPL) expands the scope of the Department of Business Oversight’s (DBO) current...more
11/20/2020
/ Banking Sector ,
California Consumer Financial Protection Law (CCFPL) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Business Oversight ,
Department of Financial Protection and Innovation (DFPI) ,
Depository Institutions ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Popular ,
Private Right of Action ,
Registration Requirement ,
Regulatory Requirements ,
Student Loans
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) established the Paycheck Protection Program (PPP), making available nearly $350 billion in loan funding to small businesses impacted by...more
5/18/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
False Claims Act (FCA) ,
False Statements ,
Federal Funding ,
Federal Loans ,
Government Investigations ,
Paycheck Protection Program (PPP) ,
Qui Tam ,
SBA ,
SBA Lending Programs ,
Small Business
Early uncertainty and the initial lapse in appropriations for the U.S. CARES Act’s Paycheck Protection Program (PPP) set off a wave of litigation by disgruntled small businesses who have been unable to secure PPP loans. PPP...more
4/27/2020
/ Borrowers ,
CARES Act ,
Class Action ,
Coronavirus/COVID-19 ,
Financial Institutions ,
Lenders ,
Loan Applications ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business
The emergence of COVID-19 has led to increased litigation and government activity across all industries, and this trend is only likely to accelerate. To assist you in better understanding your risk, we have examined matters...more
The COVID-19 pandemic is continuing to cause major global disruption to the activities of development stage and other life sciences companies due to, among other factors, limited or no access to clinical trial sites, reduced...more
Over the past several weeks, the coronavirus (COVID-19) pandemic has sparked a litany of new orders, rules, laws, guidance, and plain asks from federal and state leaders, agencies, and courts. The President and federal and...more
3/27/2020
/ Banking Sector ,
Borrowers ,
Consumer Financial Products ,
Consumer Lenders ,
Coronavirus/COVID-19 ,
Debt Collection ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Late Fees ,
Moratorium ,
New Guidance ,
New Legislation ,
New Rules ,
Student Loans
It is imperative that financial institutions stay abreast of COVID-19-related issues as they develop and consider the risks of failing to implement the various policies espoused in the federal and state orders and guidance,...more
3/26/2020
/ Consumer Financial Products ,
Consumer Lenders ,
Coronavirus/COVID-19 ,
Debt Collection ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Moratorium ,
Relief Measures ,
State of Emergency ,
Student Loans
Goodwin has written extensively on the challenges presented by the COVID-19 coronavirus... among these important issues, we also want to encourage our clients to be proactive in responding to the potential impact of COVID-19...more
On May 5, 2016, the Consumer Financial Protection Bureau issued proposed rules that would limit the use of pre-dispute arbitration clauses in contracts for consumer financial products and services. The proposed rules come as...more