On May 9, the CFPB released an advisory opinion affirming that ECOA and its implementing rule, Regulation B, protect not only those persons actively seeking credit, but also those who have sought and received credit. The...more
5/17/2022
/ Advisory Opinions ,
Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
ECOA ,
Fair Lending ,
Loan Servicer ,
New Rules ,
Policies and Procedures ,
Regulation B
On November 16, the California DFPI released Version 2.0 of its Annual Report of Finance Lenders, Brokers and PACE Administrators Licensed under the California Financing Law (CFL). The Annual Report examined unaudited data...more
The California Supreme Court ruled on Monday, August 18, that an interest rate on a consumer loan in California could be deemed illegally high even if the loan is not subject to the state’s usury law.
Consumer loans of...more
8/28/2018
/ CA Supreme Court ,
CashCall ,
Consumer Financial Products ,
Consumer Lenders ,
Finance Lenders Law ,
Financial Services Industry ,
High-Interest Loans ,
Interest Rates ,
Unconscionable Contracts ,
Unfair Competition Law (UCL) ,
Usury
Google announced on May 11 that effective on July 13, 2016 it will ban all payday loan advertisements from its site. Google was responding to concerns raised by consumer advocates who argued that the lending practice...more