The financial services industry has (finally) received some good news. Last week, a federal court granted a preliminary injunction to stop Colorado from enforcing interest and certain fee limitations under the Colorado...more
6/25/2024
/ Banks ,
Borrowers ,
Colorado ,
DIDMCA ,
FDIC ,
Financial Services Industry ,
Interest Rates ,
Loans ,
Opt-Outs ,
Out-of-State Companies ,
Preliminary Injunctions ,
Trade Associations
Colorado is in the headlines again. On January 29, a bill was introduced in the Colorado legislature to include certain additional charges in the total amount of finance charges subject to rate limits under the Colorado...more
One of the primary challenges with working in U.S. financial services is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory changes...more
1/4/2024
/ Annual Percentage Rate (APR) ,
Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Data Security ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Late Fees ,
Loans ,
Regulatory Agenda ,
Small Business
On November 13, 2023, a nonbank lender and the Colorado Administrator of the Uniform Consumer Credit Code (Administrator) entered into an Assurance of Discontinuance to settle allegations that the lender charged membership...more
On March 7, 2022, a fintech filed a lawsuit in California state court asking the court to declare that an interest rate limit under the California Financing Law (CFL) does not apply to the short-term consumer loans made by an...more
On February 8, 2022, a federal district court in California issued separate orders concluding that the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) did not violate the...more