News & Analysis as of

Lenders

SEC Proposes Amendments to Auditor Independence Rule to Address the “Loan Provision”

by Dechert LLP on

The U.S. Securities and Exchange Commission (SEC) voted unanimously on May 2, 2018 to propose amendments to Rule 2-01(c)(1)(ii)(A) under Regulation S-X – the so-called “Loan Provision” (Proposal). Generally, the Loan...more

Congress Passes Repeal of CFPB Guidance on Indirect Auto Lender Liability for Discriminatory Lending

by BakerHostetler on

The U.S. House of Representatives voted last Tuesday to reject a 2013 Consumer Financial Protection Bureau (CFPB) bulletin that provided guidance regarding liability for discrimination in indirect auto lending. The same...more

Flip or Flop: What to Know and Ask When Buying a House

by Hellmuth & Johnson PLLC on

While the adage “What you don’t know can’t hurt you,” is typically more of a hope than a fact, it can be particularly wrong for home buyers and investors. In recent years as the real estate market as gone up and down,...more

The FTC Shines the Light on Hidden Fees and Hidden Disclosures: A Cautionary Tale for Advertisers

Surely we have all seen those television and online ads promising “no hidden fees” on services. It seems to have become the norm, as banks, mortgage lenders, and other businesses compete to lure consumers, using the promise...more

OK Amends Provisions Relating to Supervised Lenders and the Charging of Convenience Fees on Consumer Loan Payments

by Weiner Brodsky Kider PC on

The Oklahoma State Legislature recently amended its statutory provisions under the Uniform Consumer Credit Code (UCCC) by adding a new section that relates to consumer loans and authorizes the charging of convenience fees for...more

Restructuring and Insolvency Bulletin: Issue 4 - May 2018: UK High Court Confirms Broad Definition of a “Financial Institution” –...

by Dechert LLP on

The High Court has confirmed it will adopt a broad definition of a “financial institution” for the purposes of the transferability provisions in a loan agreement including: (i) a newly incorporated company with a share...more

Multifamily Buildings/Solar Energy: May 2018 American Council for an Energy-Efficient Economy Report

The American Council for an Energy-Efficient Economy (“ACEEE”) issued a May 2018 report titled: Our Powers Combined: Energy Efficiency in Solar and Affordable Multifamily Buildings (“Report”) ...more

This Week in Congress: May 2018 #1

by McGuireWoods LLP on

The House and Senate convene today at noon and 3 p.m., respectively. The White House is expected to submit an $11 billion rescissions package to Congress this week. The proposed spending cuts would target unused funds that...more

Are Lessors Responsible for Interference With Lessee Quiet Enjoyment Rights?

by Holland & Knight LLP on

In the course of an aircraft lease negotiation, the lessee will typically seek to ensure that the lessor provides an express covenant to the lessee that for so long as no default has occurred and is continuing under the...more

Aircraft Lender Not Responsible for Customer’s Structuring Strategy

by Vedder Price on

Most business aircraft purchasers, especially high net worth individuals, rely on advice from their various resources when acquiring such expensive assets. Those resources typically include brokers, OEMs, lawyers,...more

Transferability – An attempt to take the heat out of the transfer market

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 4, 2018 - Immediately in the aftermath of the 2008/2009 financial crisis, the provisions governing transfers of interests in loans were more or less settled, with an...more

Podcast - Credit Funds: How PE Funds Can Address and Minimize Conflict When Expanding Into Credit

by Ropes & Gray LLP on

Although larger sponsors have been running PE funds simultaneously alongside credit funds for quite some time, over the last few years there has been a steady increase in the number of private equity firms expanding their...more

Global Transportation Finance Newsletter - April 2018

by Vedder Price on

Aircraft Lender Not Responsible for Customer’s Structuring Strategy - Most business aircraft purchasers, especially high net worth individuals, rely on advice from their various resources when acquiring such expensive...more

House Committee Passes USPAP Exemption Bill

by Fox Rothschild LLP on

The House Financial Services Committee recently passed legislation exempting appraisers from having to conduct evaluations in accordance with the Uniform Standards of Professional Appraisal Practice for loans under $250,000...more

CFPB Auto Lending Rule May Be on the Way Out

by BakerHostetler on

An Obama-era regulation intended to restrain discriminatory lending practices by automobile lenders appears to be on its way out. On April 18, under the Congressional Review Act (CRA), the Senate voted to repeal the...more

The State AG Report Weekly Update April 2018 #4

by Cozen O'Connor on

Antitrust- Texas Attorney General Reaches Settlement with Dental Supply Distributor Over Alleged Anticompetitive Conduct- Texas Attorney General Ken Paxton settled with dental supply distributor Patterson Companies,...more

Lien on Me (When Your Priority’s Gone) #2

Imagine this scenario. You are the developer for a new mixed-used facility. Months went into clearing all of the zoning and financing hurdles, but now everything is in place. All that remains is for the lender to finish the...more

Senate Votes to Roll Back Auto Industry Lending Guidance from Consumer Financial Protection Bureau

by Foley & Lardner LLP on

On April 18, the Senate narrowly passed a resolution to roll back certain guidance issued by the Consumer Financial Protection Bureau in 2013 pertaining to auto lending. As previously written about on a Foley & Lardner LLP...more

Senate Votes to Strike Down Key CFPB Bulletin on Lending Discrimination in the Indirect Auto Market

by McGuireWoods LLP on

On Wednesday, the U.S. Senate voted almost entirely along party lines to invalidate, under the Congressional Review Act, the Consumer Financial Protection Bureau’s (CFPB) (in)famous 2013 Bulletin on lending discrimination in...more

Lien on Me (When Your Priority’s Gone) - Construction and Procurement News, Q1 2018

Imagine this scenario. You are the developer for a new mixed-used facility as part of a city’s revitalization effort. Months went into clearing all of the zoning and financing hurdles. But now, everything is in place. All...more

Fannie Mae Updates Selling Guide to Allow Lender Contributions to Borrower Closing Costs and Prepaid Fees

by Weiner Brodsky Kider PC on

On April 3, 2018, Fannie Mae announced an update to its Single Family Selling Guide allowing lenders to contribute to borrower-paid closing costs and prepaid fees under specified conditions, and lenders can take advantage of...more

The Growth of European Covenant Lite

by Latham & Watkins LLP on

In 2016, global sponsors and their advisers were successful in continuing to export their experiences from financing transactions in the US leveraged loan and global bond markets to the European leveraged loan market and this...more

Proskauer’s Second Annual Survey on Trends in Private Credit Markets

by Proskauer Rose LLP on

We are delighted to share with you the results from our second annual Trends in Private Credit survey. This year’s survey was conducted via web from January 9th to February 9th 2018. In this report, we will share...more

Financial Services 2017 Year-End Report

by BakerHostetler on

Welcome to the 2017 Year-End Report from our financial services industry team. We are pleased to share our analysis of some of the key developments in the financial services industry in 2017 and our expectations for...more

Look Before You Sign … the Pitfalls of Personal Guaranties

by Ward and Smith, P.A. on

Limited liability protections afforded by various corporate, limited liability, or limited partnership laws normally insulate business owners from personal liability for their business's debts. However, lenders routinely...more

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