On June 29, Connecticut Governor Ned Lamont signed SB 1033, An Act Concerning Various Revisions to the Banking Statutes, into law. As discussed here, with this bill, Connecticut joins several other states that have set strict...more
7/14/2023
/ Banks ,
Capital Requirements ,
Connecticut ,
Consumer Financial Products ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financing ,
Income Share Agreements ,
Military Lending Act ,
New Legislation ,
Refunds ,
Small Loans
In Wood v. Omni Financial of Nevada, Inc., the plaintiffs filed a class action complaint alleging violations of the Military Lending Act (MLA). Specifically, the plaintiffs, two active duty service members who had entered...more
Today, the Fourth Circuit Court of Appeals issued a much-awaited opinion affirming the dismissal of a servicemember’s class-action suit brought under the Military Lending Act (MLA or Act) because, even though the secured...more
On February 13, a bill was introduced in the Utah House of Representatives, entitled HB 455, that would add protections relating to credit obligations and certain installment contracts for service members assigned to a...more
On November 21, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) filed a joint amicus brief in Louis v. Bluegreen Vacations Unlimited, Inc., No. 22-12217 (11th Cir.) regarding servicemembers’...more
Please join Consumer Financial Services Partner Chris Willis and his guest and colleague Tony Kaye as they discuss the recently enacted California Senate Bill 1311 or Military and Veteran Consumer Protection Act of 2022....more
On September 27, California Governor Gavin Newsom signed Senate Bill 1311, the Military and Veteran Consumer Protection Act of 2022 (the Act), into law. The Act takes direct aim at, among other things, the Military Lending...more
A recent federal court decision from the Northern District of Texas offers some useful lessons and insights for creditors relying on the Military Lending Act’s (MLA) safe harbors for verifying whether a consumer is a “covered...more
Please join Consumer Financial Services Partner Chris Willis and his guest and fellow Partner Tony Kaye for this latest podcast episode as they discuss the Military Lending Act and the Servicemembers Civil Relief Act,...more
The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) highlighted their efforts to aggressively enforce provisions of the Military Lending Act (MLA) in a recently issued press release and...more