Connecticut Governor Dannel Malloy recently signed a new bill into law that helps Connecticut consumers understand how much they would need to pay in order to satisfy a judgement lien....more
6/11/2018
/ Consumer Lenders ,
Debt ,
Debtors ,
Judgment Liens ,
Lienholders ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
New Legislation ,
Payoff Requirements ,
Qualified Written Requests ,
State and Local Government
On April 25, the FTC filed a complaint against Lending Club in the district court for the Northern District of California. The complaint alleges that Lending Club’s online advertising “lures prospective borrowers by promising...more
4/30/2018
/ Advertising ,
Consumer Financial Products ,
Consumer Lenders ,
Corporate Counsel ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
LendingClub ,
Online Marketplace Lending ,
Transaction Fees ,
Unfair or Deceptive Trade Practices
On February 14, the Office of the Comptroller of the Currency (OCC) terminated a longstanding cease-and-desist order against payday lender ACE Cash Express, Inc. ...more
On January 16, the CFPB announced plans to “reconsider” its newly minted regulation for Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Payday Rule)....more
The short-lived rule will likely be remembered as part of the Trump Administration’s dismantling of the Obama Administration’s legacy, and as continuing the trend of courts strictly enforcing agreements to arbitrate as...more
10/26/2017
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Federal Arbitration Act ,
Financial Services Industry ,
Popular ,
Trump Administration
Since the financial crisis, it has been difficult for consumers and developers to obtain mortgages to buy and build in the areas most hurt by the recession. The Office of the Comptroller of the Currency (OCC) has...more
9/21/2017
/ Banking Sector ,
Banks ,
Consumer Financial Products ,
Consumer Lenders ,
Distressed Properties ,
Financial Institutions ,
Loans ,
Mortgages ,
OCC ,
Policies and Procedures ,
Risk Mitigation