News & Analysis as of

Debt Interest Rates Financial Institutions

A&O Shearman

An interest-ing question: when is a default interest rate a penalty?

A&O Shearman on

The Court of Appeal has affirmed a three-step test for penalty clauses: (1) is it a secondary obligation; (2) does the clause protect a legitimate interest; and (3) is it extortionate by reference to the legitimate interest?...more

J.S. Held

Lending Climate in America – 1st Quarter 2024 Survey

J.S. Held on

With inflation continuing to impact the US economy, lenders are focused on the economic impact of the presidential election in November. Lenders’ expectations for the US economy’s performance in the longer term – beyond the...more

Troutman Pepper

Third Circuit Finds Pennsylvania’s Consumer Discount Company Act Does Not Apply to Debt Collectors

Troutman Pepper on

In representing fintech companies and other lenders, we increasingly confront claims against debt buyers or entities with bank partner relationships brought under Pennsylvania’s Consumer Discount Company Act (CDCA) and the...more

White & Case LLP

European leveraged finance: A whole new world

White & Case LLP on

European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024. -Rising interest...more

J.S. Held

Lending Climate in America – 4th Quarter 2023 Survey

J.S. Held on

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

Ballard Spahr LLP

Credit unions obtain preliminary injunction blocking enforcement of NY law reducing debt judgment interest rate

Ballard Spahr LLP on

A federal district court judge in the Southern District of New York ruled late last week that three credit unions had successfully established a likelihood of success on their claims that the retroactive application of New...more

Dechert LLP

Did the Distressed Debt Opportunity Slink by Me When I Wasn’t Looking?

Dechert LLP on

I have spoken to a number of people over the past months who have raised money or built technology to take advantage of a broadly anticipated distressed opportunity which was certainly to be occasioned by the pandemic.  Did I...more

Ballard Spahr LLP

Second Circuit Resolves Lower Court Split over Interest and Late Fees in FDCPA Claims

Ballard Spahr LLP on

When a consumer's current balance will increase over time due to interest and late fees, a debt collection notice must disclose this information, the U.S. Court of Appeals for the Second Circuit has ruled. In Avila v....more

Robinson+Cole Data Privacy + Security Insider

FTC refunds consumers for telemarketing scam

The FTC recently announced that it is sending more than $969,000 to 10,387 customers who were bilked out of their funds through a telemarketing scam operated by Innovative Wealth Builders (IWB)....more

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