Georgia has enacted its own Commercial Financing Disclosure Law (“CFDL”) that is similar to California, Florida and New York’s disclosure laws. The Georgia CFDL applies to covered “Commercial Financing Transactions”...more
Florida has enacted its own Commercial Financing Disclosure Law (“CFDL”) that is similar to California and New York’s disclosure laws. The Florida CFDL applies to covered “Commercial Financing Transactions” consummated on or...more
On June 1, 2023, the Consumer Financial Protection Bureau along with Federal Reserve, OCC, FDIC, NCUA and FHFA (collectively, the “Agencies”) issued a Notice of Proposed Rulemaking seeking comment on rules to implement...more
6/16/2023
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
FHFA ,
Mortgage Loan Originators ,
NCUA ,
Non-Discrimination Rules ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Proposed Rules ,
Quality Control Plan ,
Underwriting ,
Valuation
Superintendent of Financial Services Adrienne A. Harris announced on February 1, 2023 that the New York State Department of Financial Services has adopted a final regulation relating to early disclosure requirements on...more
On June 9, 2022, the California Department of Financial Protection and Innovation (CA DFPI) issued its long awaited final regulations implementing SB 1235’s (2018) new early disclosure requirements on commercial financing...more
Earlier this year, we reported that the California Department of Financial Protection and Innovation (CA DFPI) published new regulations requiring all existing commercial lenders and brokers licensed under the California...more
Following July 8, 2021’s Client Alert, the California Department of Financial Protection and Innovation (DFPI) posted its CFL Transition Checklist for existing California Financing Law licensees to begin the license...more
Back in November 2020, we reported the CA Department of Financial Protection and Innovation (“CA DFPI”) as administrator of the California Financing Law (CFL) License had published a third round of proposed rules to...more
Acting under its new Debt Collection Licensing Act licensing administration and enforcement authority granted by SB 908, the DFPI Commissioner issued a public statement on April 9th reminding all future license applicants...more
As a follow up to my article on December 4, 2020, reporting that California enacted SB 908 – the Debt Collection Licensing Act, Financial Code Division 25, Sections 100000, et seq., the administering agency Department of...more
On February 5, a Buchalter Client Alert discussed CFPB Acting Director Uejio’s announcement that he was considering delaying implementation of the two new QM Final Rules (the “General QM final rule”, which creates a new...more
Changes are coming in 2021 to the eligibility requirements for “Qualified Mortgage” or “QM” loans. The Ability-to-Repay/Qualified Mortgage Rule administered by CFPB (“ATR/QM Rule”) requires a creditor to make a reasonable,...more
During the 2019 legislative session, California enacted SB 908 – the Debt Collection Licensing Act, Financial Code Division 25, Sections 100000, et seq., requiring consumer debt collectors who are collecting on their own...more
The California Department of Financial Protection and Innovation (fka Department of Business Oversight) is one step closer to issuing final regulations that would impose new early disclosure requirements on covered commercial...more
California has enacted a new California Consumer Protection Law (CCFPL), California Financial Code Section 90001 et seq. The CCFPL will convert the Department of Business Oversight (DBO) into a new Department of Financial...more
9/11/2020
/ Bank Holding Company ,
Banks ,
California ,
Covered Person ,
Credit Unions ,
Debt Collection ,
Exemptions ,
Farm Credit Administration ,
FinTech ,
Governor Newsom ,
Savings and Loan Companies ,
Third-Party Agents ,
Trusts ,
UDAAP