The Financial Conduct Authority (FCA) is aiming to bridge private and public markets with the Private Intermittent Securities and Capital Exchange System (PISCES). Only shares in unlisted UK-incorporated companies will be…
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/ Business Organizations, Finance & Banking, Securities Law
Defense technology companies in Germany operate in a highly regulated environment that requires careful navigation of various legal requirements. Key regulations include national or EU legislation on handling of defense-related…
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/ Administrative Law, Commercial Law & Contracts, International Law & Trade, Mergers & Acquisitions
On May 22, an installment lender disclosed in a securities filing that the CFPB recently withdrew a 2023 order designating the company for supervision. As previously covered by InfoBytes, the CFPB claimed special oversight over…
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/ Consumer Protection, Finance & Banking
Recently, the U.S. District Court for the Central District of California granted the FTC’s motion resulting in a permanent injunction against defendants involved in an allegedly fraudulent student loan debt relief operation. The…
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/ Administrative Law, Consumer Protection, Education Law
On May 23, the U.S. District Court for the Eastern District of Kentucky received a status report from the defendants, the CFPB and Russell Vought, stating that the Bureau has determined the Section 1033 rule to be unlawful and…
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/ Administrative Law, Consumer Protection, Finance & Banking
On May 15, the GAO penned a letter to the Acting Comptroller of the Currency, Rodney E. Hood, highlighting areas it believes warrant the OCC’s focus. First, the GAO recommended that the OCC establish policies and procedures for…
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/ Administrative Law, Finance & Banking, Science, Computers, & Technology
On May 23, the Supreme Court of Texas ruled that the maximum permissible interest on a loan must be calculated using the declining principal balance rather than the initial total principal amount. This decision was in response…
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/ Commercial Law & Contracts, Finance & Banking
On May 21, the CFPB and DOJ successfully filed a motion to dismiss with prejudice a case in the U.S. District Court for the Western District of Tennessee after noting the defendant paid its penalties. The dismissal ended a…
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/ Administrative Law, Consumer Protection, Finance & Banking
On May 27, the CFPB submitted its motion to dismiss a lawsuit with prejudice filed against a lease-to-own finance company and several other entities. As previously covered by InfoBytes, the CFPB sued the lease-to-own finance…
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/ Administrative Law, Consumer Protection, Finance & Banking
On May 20, the governor of Washington State signed into law HB 2020 which amends the state’s tax laws to exclude interchange fees from the business and occupation tax. The legislation stemmed from a lawsuit where a company sued…
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/ Administrative Law, Finance & Banking, Taxation
On May 26, the governor of Nevada enacted SB 44 to impose new duties on financial services providers in Nevada, aligning state requirements for safeguarding customer information with FTC standards in its safeguards rule (16…
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/ Consumer Protection, Finance & Banking, Privacy
On May 20, the Maryland Office of the Attorney General announced three significant actions to enforce both Maryland and federal fair housing laws. The attorney general’s efforts resulted in three major settlements by the Civil…
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/ Administrative Law, Civil Rights, Real Estate - Residential
On May 28, the CFPB filed a motion with the U.S. District Court for the Eastern District of Kentucky, requesting to stay proceedings in a case involving the Small Business Lending Rule. The CFPB made this request to undertake a…
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/ Administrative Law, Consumer Protection, Finance & Banking
On May 20, the FDIC announced its intent to rescind the 2024 Statement of Policy and reinstate its prior Bank Merger Statement of Policy. This decision reflected the FDIC’s assessment that the 2024 Statement of Policy added…
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/ Administrative Law, Finance & Banking, Mergers & Acquisitions
On May 28, the U.S. District Court for the Middle District of Florida received a complaint from a trade organization representing the residential Property Assessed Clean Energy (PACE) industry. The complaint challenged the…
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/ Administrative Law, Constitutional Law, Real Estate - Residential
