News & Analysis as of

Consumer Lenders

Sheppard Mullin Richter & Hampton LLP

Ohio DFI Withdraws Prior Interpretation, Suspends Licensing for Bank Loan Arrangers Under Small Loan Act

On October 31, the Ohio Division of Financial Institutions (DFI) issued updated Bank Partnership Guidance under the state’s Small Loan Act, reversing its earlier position from December 2024 and January 2025. The DFI had...more

Orrick, Herrington & Sutcliffe LLP

District Court Denies Trade Organization’s Attempt to Stop CFPB’s Final PACE Rule

On November 3, the U.S. District Court for the Southern District of Florida denied a motion to enjoin a final rule issued by the CFPB that applies TILA protections and other federal regulations to residential PACE financing....more

Orrick, Herrington & Sutcliffe LLP

District court certifies class in ‘pay-to-pay’ fee case

On November 3, the U.S. District Court for the Northern District of West Virginia certified a class in a class action case alleging a federal credit union charged fees in connection with monthly loan payments that violated...more

Troutman Pepper Locke

Point-of-Sale Finance Series: Navigating Home Improvement Finance Risks and Regulations — The Consumer Finance Podcast

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In this insightful crossover episode of The Consumer Finance Podcast and Payments Pros, host Jason Cover is joined by colleagues Mark Furletti and Taylor Gess to explore the complexities of home improvement finance. The...more

A&O Shearman

UK FCA Data Room Related to Motor Finance Redress Consultation

A&O Shearman on

The UK Financial Conduct Authority (FCA) has updated its webpage on the proposed motor finance consumer redress scheme consultation to announce the launch of a data room. The facility is intended to support stakeholder...more

Sheppard Mullin Richter & Hampton LLP

DFPI Orders Lender to Pay $1 Million for Alleged Violations of the Fair Access to Credit Act

On October 17, 2025, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with a licensed consumer lender, alleging violations of the Fair Access to Credit Act, which amended the...more

Troutman Pepper Locke

Point-of-Sale Finance Series: Banking on Lending Models — Payments Pros – The Payments Law Podcast

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In this crossover episode of Payments Pros and The Consumer Finance Podcast, Chris Willis, Jason Cover, and Taylor Gess discuss licensed lending and bank model lending programs. This conversation dives into the benefits,...more

Troutman Pepper Locke

Point-of-Sale Finance Series: Navigating Merchant and Dealer Contracting - The Consumer Finance Podcast

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In this engaging crossover episode of The Consumer Finance Podcast and Payments Pros, host Taylor Gess is joined by colleagues Jason Cover, Andrew Thurmond, and Samer Roshdy to explore the complexities of contracting with...more

GeoDataVision

Understanding Statistical Significance Analysis for Regulatory Compliance

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If you are worried about “redlining” you’d better understand statistical significance - The perennial question facing all banks is, “What volume of lending in Majority-Minority census tracts and mortgages extended to...more

Orrick, Herrington & Sutcliffe LLP

District court holds fintech’s arbitration agreement violates Military Lending Act

On October 7, the U.S. District Court for the Northern District of California denied a fintech company’s motion to compel arbitration and stay litigation in a putative class action, for allegedly violating federal and Georgia...more

Orrick, Herrington & Sutcliffe LLP

Massachusetts finalizes amendments to small loans, truth in lending, and mortgage licensing regulations

Recently, the Massachusetts Division of Banks announced amendments to 209 CMR 20.00 (Small Loans, Sales Finance Companies, and Insurance Premium Finance Companies), 209 CMR 32.00 (Truth in Lending), and 209 CMR 42.00...more

Sheppard Mullin Richter & Hampton LLP

Nevada Removes In-State Office Requirements for Online and Buy Now, Pay Later Lenders

On October 1, 2025, Nevada’s Senate Bill 437 took effect, modernizing Nevada’s Installment Loan and Finance Act to reflect the growth of online consumer lending and “buy now, pay later” (BNPL) products. The new law authorizes...more

Sheppard Mullin Richter & Hampton LLP

Four States Settle with Mortgage Company for Alleged Unlicensed Activity

On September 26, 2025, financial regulators in Hawaii, Idaho, Oregon, and Texas entered into a multistate Settlement Agreement and Consent Order with a mortgage company to resolve allegations of unlicensed activity,...more

A&O Shearman

UK FCA Consults on Motor Finance Redress Scheme

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The UK Financial Conduct Authority (FCA) has published consultation paper CP25/27 (alongside a press release and an accompanying statement) incorporating its proposed market-wide consumer redress scheme under section 404 of...more

Troutman Pepper Locke

State Law Roundup: A Focus on Connecticut and Oregon — Moving the Metal: The Auto Finance Podcast

Troutman Pepper Locke on

In this episode of Moving the Metal: The Auto Finance Podcast, Brooke Conkle and Chris Capurso delve into recent legislative changes affecting the auto finance industry in Connecticut and Oregon. They discuss Connecticut's...more

Orrick, Herrington & Sutcliffe LLP

Baltimore sues online lender for alleged usury

On October 6, the Mayor of Baltimore announced the City of Baltimore sued an online lender in state court seeking civil penalties and injunctive relief for allegedly violating state and city law. According to the complaint,...more

Orrick, Herrington & Sutcliffe LLP

Connecticut Dept. of Banking issues consent order to unlicensed small loan company

On September 24, the Connecticut Department of Banking entered into a consent order with a company that provided advances on potential personal injury judgments, alleging that the company was operating as a small loan lender...more

A&O Shearman

FCA Consultation on Motor Finance Redress Scheme

A&O Shearman on

Shortly after the London markets closed on October 7, the Financial Conduct Authority published a consultation (CP25/27) incorporating its proposed market‑wide consumer redress scheme under section 404 of the Financial...more

Latham & Watkins LLP

FCA Consults on Motor Finance Redress Scheme

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Shortly after markets closed on 7 October 2025, the FCA published its consultation on a proposed motor finance redress scheme (the Scheme). It is also consulting on extending the deadline for firms to send a final response to...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU and UK Drive Consumer Loan Reforms To Boost Protection and Modernize Credit Markets

There have been significant developments in the regulation of consumer loans across both the European Union and the United Kingdom in recent years. In response to evolving market dynamics, technological advancements and the...more

Hudson Cook, LLP

The Hudson Cook Usury Monitor - A Publication of Recent Usury and Finance Charge Cases - Summer 2025

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For all those interested in all things "Interest" related, we provide a summary of recent state and federal court cases involving usury, finance charges, and interest rates, as they relate to the consumer and commercial...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates four consent orders against national banks, one against lender

Recently, the CFPB terminated four consent orders against two banks each after finding the banks fulfilled their obligations. The CFPB also terminated one consent order against a lender. ...more

Bradley Arant Boult Cummings LLP

Home Equity Investment and Shared Appreciation Agreements as Reverse Mortgages in Washington – Olson v. Unison Agreement...

Last month, in the unpublished opinion Olson v. Unison Agreement Corporation, the United States Court of Appeals for the Ninth Circuit found that a home equity investment (HEI) agreement met the definition of a reverse...more

Husch Blackwell LLP

Wisconsin Court of Appeals Affirms Primacy of UCC Safe-Harbor Pre- and Post-Sale Notices After Repossession

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The Wisconsin Court of Appeals issued a significant decision in Birge v. Simplicity Credit Union, rejecting a consumer’s challenge to the use of the Uniform Commercial Code (UCC) safe-harbor pre-sale and post-sale notice...more

Troutman Pepper Locke

The Larger Participant Rule: A New Route for Auto Finance — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal, hosts Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services Practice Group are joined by Chris Willis to explore the Consumer Financial Protection...more

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