On March 8, Washington State’s legislature passed a significant amendment (SB 6025) to the Consumer Loan Act (CLA) targeting bank model lending. SB 6025 is an updated version of a prior bill...more
The California Department of Financial Protection and Innovation, or DFPI, continued to have significant influence over legislative and regulatory developments in the third quarter of 2023. Originally published in Law360 -...more
House Bill 1874 (H.B. 1874), denominated the “predatory loan prevention act”, was pre-filed for introduction in the Washington state legislature December 5, 2023, and referred to the House Committee on Consumer Protection and...more
The Illinois Department of Financial and Professional Regulation (IDFPR) has adopted a series of regulations pursuant to the Illinois Predatory Loan Prevention Act (PLPA). The new regulations will require certain Illinois...more