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Credit Insurance

Troutman Pepper

New Mexico Enacts 36% APR Cap on Loans of $10,000 or Less

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On January 1, 2023, House Bill 132 went into effect enacting a 36% annual percentage rate (APR) cap on loans up to $10,000 made under the New Mexico Bank Installment Loan Act of 1959 and the New Mexico Small Loan Act (SLA)....more

Husch Blackwell LLP

Retail Apocalypse Part II? What Trade Creditors and Landlords Can Do To Protect Themselves

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At the outset of the Covid-19 pandemic, some commentators were preparing for a mass extinction event in the retail industry, characterized by hundreds of brick-and-mortar store closings, massive job losses, and numerous...more

White & Case LLP

COVID-19: Turkish Government Financial Assistance Measures

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As in the rest of the world, the coronavirus (“COVID-19”) pandemic has caused significant disruption in the Turkish economy and financial markets. In response, the Turkish Government has introduced an economic stimulus...more

Blank Rome LLP

Credit Insurance: Insurance for Late Payments or Nonpayments

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Recent events and the decline of the global economy have brought a raft of notices of late payments or no payments for creditors, lenders, landlords, and trade counterparties. In many instances there may be no notice at all,...more

ArentFox Schiff

Coronavirus Impacts: What Insurance Coverage May Be Available

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Companies across the country are canceling meetings and events over travel concerns because of the coronavirus. The first question to ask is whether the company’s existing insurance policies provide coverage, in whole or in...more

Sullivan & Worcester

The Prudential Regulation Authority publishes Policy Statement updating its Supervisory Statement on Credit Risk Mitigation

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The Prudential Regulation Authority (PRA) has published a Policy Statement (PS 8/19) and updated Supervisory Statement (17/13 “Credit Risk Mitigation”, which will come into force on 13 September 2019) in relation to the use...more

Carlton Fields

D.C. Federal Court Permits Insured to Amend Complaint in Reinsurance Dispute Related to Credit Insurance Policy

Carlton Fields on

A District of Columbia federal court partially granted and partially denied a reinsured’s motion to amend its complaint in a dispute over a reinsurance agreement for a credit insurance policy....more

Hogan Lovells

Are you a credit insurer? Or a bank which relies on credit insurance? Now is the time to respond to the PRA’s consultation on...

Hogan Lovells on

It has now been two months since the PRA opened a consultation on the eligibility of unfunded guarantees as a form of credit risk mitigation for banks. The consultation will remain open for responses for two and a half more...more

Latham & Watkins LLP

French Export Credit Agency Changes

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After seven decades as France’s export credit agency (ECA), on 31 December 2016, Compagnie Française d’Assurance pour le Commerce Extérieur (Coface) transferred its State export credit guarantee activities to Bpifrance...more

Ballard Spahr LLP

Commenters urge CFPB to revise proposed changes to Reg Z prohibition on financing credit insurance premiums

Ballard Spahr LLP on

Earlier this month, the CFPB issued a proposal to clarify the application of the Regulation Z prohibition on financing credit insurance premiums (Section 1026.36(i)) to transactions in which credit insurance premiums are...more

Ballard Spahr LLP

CFPB’s proposed changes to prohibition on financing credit insurance premiums fall short

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The CFPB’s proposed changes to the Regulation Z prohibition on financing credit insurance premiums (Section 1026.36(i)) fall short of industry expectations that the CFPB would clarify that level and levelized premiums are...more

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