A Discussion with Nacha on Proposed Rulemaking Regarding Fraud - Payments Pros: The Payments Law Podcast
What Is Mass Arbitration and How Should Companies Protect Themselves? - The Consumer Finance Podcast
California Updates Protections for Service Members and Veterans - The Consumer Finance Podcast
HVCRE: The Continuing Saga of Lenders
The CFPB's Small Business Lending Initiative
In The Cross-Hairs? Protecting Your Company Against Consumer Financial Protection Bureau Investigations and Investors' Mortgage Buyback Claims
On August 27, the CFPB launched a beta platform for the small business lending data collection rule under Section 1071 of the Dodd-Frank Act. Financial institutions and their technology Participants can upload sample data...more
查看中文 This update primarily provides an overview of key regulatory developments in the second quarter of 2024 relevant to companies listed, or planning to list, on The Stock Exchange of Hong Kong Limited (HKEx) and their...more
On August 26, the United States District Court for the Southern District of Texas issued a decision upholding the legality of the CFPB Small Business Lending Rule (the “Rule”) (designed to implement section 1071 of the...more
In this report on the solar financing marketplace, which is characterized as an “Issue Spotlight”, the CFPB identifies four areas that they view to present risks to consumers. In the press release accompanying the report,...more
On August 7, 2024, the CFPB published an Issue Spotlight on the solar lending industry. In conjunction with the CFPB’s Issue Spotlight, the CFPB, U.S. Department of Treasury, and the Federal Trade Commission also issued a...more
Although high interest rates may no longer be headline news, loan obligations remain a driving source of stress for many business owners. Loan financing is fundamental (and often unavoidable) for many businesses. Loans can...more
On August 2, members of U.S. House of Representatives introduced H.J. Res. 195, a joint resolution providing for congressional disapproval under the Congressional Review Act (CRA) of recent CFPB guidance (previously discussed...more
On July 11, the Federal District Court for the Middle District of Florida granted the FTC’s request for a temporary restraining order against operators of a debt relief enterprise that unlawfully charged consumers illegal...more
This week I wanted to take things in a different direction as I will consider the current state of the commercial real estate market and the housing crisis in America. In this Part 1 of a three part blog post series, the...more
Florida recently enacted H1347, revising the state’s criteria for what constitutes usurious consumer loans. The Florida Consumer Finance Act prohibits charging an interest rate of more than 18% per year on a loan of...more
In times of economic uncertainty, lending is not exclusively within the realm of banks. Non-financial institutions, such as corporate entities, pension funds, insurance companies, and even high-net-worth individuals, play a...more
The Bank of England's Securities Lending Committee has published its Settlement Efficiency Report. The findings have been collated by a Working Group since H2 2023. The aim was to highlight the issues around settlement...more
With inflation continuing to impact the US economy, lenders are focused on the economic impact of elevated interest rates. Lenders’ expectations for the US economy’s performance in the longer term – beyond the next six months...more
New EU legislative requirements will reshape how non-EU (including European Economic Area) banks service EU clients on a cross-border basis. In this note we summarise the new regime, its implications for firms providing...more
On June 17, the Consumer Financial Protection Bureau filed an order to resolve its 2023 lawsuit against the former CEO of a short-term small dollar lender and his spouse, in connection with a series of fraudulent transfers...more
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on the state of negative equity in auto lending. The CFPB says it found that financing negative equity creates increased risks for...more
On May 31, the CFPB filed suit in federal court in the Middle District of Pennsylvania against a Pennsylvania-based student loan servicer accusing it of illegally pursuing student loan debts discharged in bankruptcy and...more
On May 7, 2024, Morrison Foerster’s New York City office co-hosted a Private Markets Pop-Up with Kayo Conference Series, an event that brought together professional women across the private credit and private equity markets...more
On May 16, the CFPB filed a motion for summary judgement in the U.S. District Court in the Southern District of Florida seeking a $20 million civil penalty against a California-based mortgage provider for allegedly submitting...more
On May 17, Colorado’s governor signed the nation’s first artificial intelligence law designed to prevent algorithmic discrimination. The law is slated to go into effect on February 1, 2026....more
On May 17, the CFPB filed a lawsuit against a California-based fintech that operates a nationwide website and mobile-application based peer-to-peer lending platform through which consumers can obtain small-dollar, short-term...more
On May 6, 2024, the CFPB resolved an enforcement action against a group of Delaware student loan trusts and a loan servicer (found here and here) for their failures to adequately respond to borrowers’ requests for relief,...more
Who may be interested: Registered Investment Companies; Boards of Directors; Investment Advisers - Quick Take: The staff of the SEC’s Division of Investment Management (“Staff”) has published a new report entitled...more
Venture debt endured a challenging 2023, but as lenders look for new product lines to increase deployment after a quiet period, they are turning their attention to the venture debt market. US venture debt lending dropped...more
Different hedge fund investors have different tax concerns that must be taken into account when structuring a hedge fund and its portfolio investments. Hedge fund investors generally fall into three categories:...more