A bill before the New York State Assembly would, if passed, have major implications for a variety of financing transactions in the Empire State. Titled the End Loan Sharking Act, Assembly Bill 9585 would subject a variety of...more
4/3/2024
/ Commercial Loans ,
Consumer Financial Products ,
Consumer Lenders ,
Corporate Financing ,
Financial Institutions ,
Financial Services Industry ,
Financing ,
Interest Rates ,
Licensing Rules ,
Pending Legislation ,
Usury
When my kids were much younger, we started a New Years' Eve tradition of writing down our predictions for the upcoming year. Our practice of forecasting the year in sports, world events, and the anticipated life milestones of...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to payments, along with some additional related information....more
1/31/2024
/ Amicus Briefs ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Wallets ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Military Service Members ,
Mobile Payments ,
Money Transfer ,
OCC ,
Payment Systems ,
Prepaid Payment Products ,
Proposed Rules ,
Unemployment Benefits
Growing up in New England we both heard that there were three things you should never discuss in public. Politics and religion were two. The third could differ....more
4/5/2023
/ Advisory Opinions ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Collection ,
FDCPA ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Services Industry ,
Policy Statement ,
Regulation F ,
Supervisory Guidance
Many things in life are subject to recalibration and reconsideration. For some of us, the run that used to be an easy jog in your twenties is difficult in your thirties, painful in your forties, and unthinkable by fifty. When...more
In last month's issue of Insights we discussed a new licensing regime in the Commonwealth of Massachusetts specific to student loan servicers. As of the publication date of that article the rules such servicers must follow...more
The Commonwealth of Massachusetts is aiding student loan consumer protection efforts, and is ramping up the level of scrutiny applied to student loan servicers. Effective July 1st, it will join a growing list of states that...more
We are living in and through unprecedented times. The coronavirus pandemic sweeping across the globe has had a number of crippling effects on the nation - pushing its healthcare system to the brink, driving many out of the...more
The May 2019 issue of Insights provided high-level background information about the recent trend of state legislation targeting student loan servicers. In the June 2019 issue of Insights, we took a deeper dive into New York's...more