News & Analysis as of

Credit Ratings

Sheppard Mullin Richter & Hampton LLP

Allegedly Deceptive Credit Repair Scheme Settles with FTC for $12 Million

On August 7, the CFPB issued a report and a consumer advisory highlighting predatory practices in solar lending. On the same day, the FTC released a blog post emphasizing similar concerns....more

Rivkin Radler LLP

CT New Law Alert: Medical Debt Cannot be Reported to Credit Agencies

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Connecticut Governor Ned Lamont recently signed a new bill into law that prohibits healthcare providers from reporting patients’ medical debt to credit rating agencies. The law goes into effect on July 1, 2024. In addition,...more

Cadwalader, Wickersham & Taft LLP

A Different Kind of Swift Advice May 2024 - In Our Ratings Era: Top Lender Considerations for Subscription Facilities

One of the best things about fund finance is that there is always something new and exciting happening in our space. New players come online, and new products and solutions solve issues that pave the way for fund borrowers to...more

Vinson & Elkins LLP

BOEM Releases Tougher Financial Assurance Requirements for Offshore Oil and Gas Operations

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New and additional bonding requirements for certain companies operating on the Outer Continental Shelf (“OCS”) will take effect in June as a result of a recent rulemaking. These new requirements will be phased in over a...more

Holland & Knight LLP

Interior Department Announces Rule on Financial Assurance for Offshore Oil and Gas

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For a decade, the U.S. Department of the Interior has wrestled with financial assurance (or bonding) requirements for offshore oil and gas companies. Over the last 10 years, the Interior Department has released – and later...more

Cadwalader, Wickersham & Taft LLP

Cadwalader Climate - April 2024 #3

In this week’s edition, we discuss the EU’s continued push to develop its ESG regulatory framework by proposing changes to the regulation of credit ratings agencies to accommodate ESG factors. Regulating ESG ratings providers...more

Mayer Brown

Public Consultation on Proposed NDRC Rules Supporting Foreign Debt Issuance by High-Quality Enterprises

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On 14 March 2024, China’s National Development and Reform and Commission (NDRC) issued a consultation paper soliciting public comments on its proposed rules providing support for the incurrence of the medium- and long-term...more

Cozen O'Connor

Cozen Currents: Use the Force

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The Cozen Lens- •As bipartisanship wanes, forced compromise remains an essential component of governance in Washington, DC. - •Dealmaking activity is up, but antitrust enforcement is also expected to increase as growing...more

Latham & Watkins LLP

FCA Publishes Findings From Its Wholesale Data Market Study

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The FCA found that wholesale data markets can be improved, but has ruled out a significant intervention. The FCA has published the findings of its wholesale data market study (MS23/1.5), which examined competition in the...more

Fox Rothschild LLP

Supreme Court: Government Agencies Can Be Liable Under FCRA for Credit Reporting Errors

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The U.S. Supreme Court has ruled that federal government agencies can be held liable under the Fair Credit Reporting Act when they fail to investigate or correct inaccurate information furnished to credit reporting agencies. ...more

Husch Blackwell LLP

A New Colorado Bill Seeks To Subject More Fees To Consumer Credit Rate Caps

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Colorado is in the headlines again. On January 29, a bill was introduced in the Colorado legislature to include certain additional charges in the total amount of finance charges subject to rate limits under the Colorado...more

J.S. Held

Lending Climate in America – 4th Quarter 2023 Survey

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Interest rates and inflation have been the big drivers of the US economy as of late, but lenders are increasingly optimistic for 2024, despite some challenges. Lenders foresee interest rate declines beginning in 2024 – with...more

Orrick, Herrington & Sutcliffe LLP

Fed releases third quarter SLOOS survey on bank lending practices

On November 6, the Fed released its quarterly survey of Senior Loan Officer Opinion Survey (SLOOS) on bank lending practices. The report is administered to mostly domestic banks but includes some international banks....more

Ankura

How Health Systems Can Use Financial Metrics to Inform Real Estate Capital Management Decisions

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Today, maximizing the use of your limited capital is especially important because: margins continue to be squeezed, access to capital has become more difficult, the cost of capital continues to rise, the cost of...more

Lippes Mathias LLP

The Landscape of Commercial Lending Conditions and What May Come

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In recent years, U.S. banks have been tightening lending conditions. This trend is expected to continue for commercial loans because of various factors, including the ongoing effects of the COVID-19 pandemic, changes in...more

Cadwalader, Wickersham & Taft LLP

Regulatory and Transactional Implications of Recent Moody’s Bank Ratings Downgrades

Earlier this week, Moody’s Investor Services downgraded the credit ratings of 10 regional banks and put 17 other banks under review or gave their rating a negative outlook. Notwithstanding the downgrades, most of the...more

Vinson & Elkins LLP

BOEM Bonding: What You Need to Know About New Financial Assurance Requirements Proposed for Offshore Oil and Gas Drilling

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The Biden administration has proposed changes regarding when oil, gas, and sulfur lessees and certain other parties operating in the offshore Outer Continental Shelf must post additional bonds or other “supplemental financial...more

Bracewell LLP

BOEM Releases Proposed Rule on Supplemental Financial Assurance for OCS Lease and Grant Obligations

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On June 29, 2023, the Department of Interior’s Bureau of Ocean Energy Management (BOEM) published a proposed rule that, if adopted, would substantially revise the financial assurance requirements applicable to offshore oil...more

A&O Shearman

EU Publishes New Sustainable Finance Package

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The EU published a new Sustainable finance package 2023 on June 13, 2023. The package includes - - A Proposed Regulation on the transparency and integrity of ESG rating activities, which aims to enhance the quality of ESG...more

Mayer Brown Free Writings + Perspectives

SEC Adopts Final Rules Removing Credit Ratings References from Regulation M

On June 7, 2023, the US Securities and Exchange Commission (the “SEC”) unanimously adopted final rules amending Regulation M (the “Final Rules”) to remove its references to credit ratings, replace them with alternative...more

Mayer Brown Free Writings + Perspectives

SEC Adopts Final Rules to Remove and Replace Credit Ratings References in Regulation M

During this yesterday's open meeting of the U.S. Securities and Exchange Commission (the “SEC”), the Commissioners unanimously voted to adopt amendments to remove references to credit ratings from Regulation M, and replace...more

Paul Hastings LLP

Proactive Recommendations to Private Equity Sponsors During Debt Ceiling Uncertainty

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Like most other enterprises that raise and spend capital, the federal government finances its spending in part through the issuance of debt. The federal debt limit is the maximum amount of money that the federal government is...more

King & Spalding

NAIC Developments Affecting Insurer Investment Portfolios

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This bulletin discusses pending actions of the (a) National Association of Insurance Commissioners (NAIC) Valuation of Securities (E) Task Force (VOS Task Force) to address certain issues associated with insurer investments...more

Troutman Pepper

Texas AG Joins Wave of Investigations Into Credit Ratings Companies’ ESG Data Usage in Financial Decision-Making

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Texas Attorney General (AG) Ken Paxton co-signed two letters to Morningstar, Inc. and its subsidiary Sustainalytics, joining multistate investigations into the credit ratings giant, as part of a growing trend among attorneys...more

Cozen O'Connor

Texas AG Paxton Joins Multistate Investigation of S&P Global’s ESG Ratings

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Texas AG Ken Paxton issued a Civil Investigative Demand under the Texas Deceptive Trade Practices-Consumer Protection Act to S&P Global, Inc., a credit rating agency, seeking documents and information regarding S&P’s use of...more

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