Banking Sector, Annual Percentage Rate (APR)

Senators Sanders, Hawley introduce legislation to cap credit card interest rates at 10%

Ballard Spahr LLP on 2/12/2025

Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more

New Mexico APR and Excluded Charges Rule Becomes Effective

Troutman Pepper Locke on 3/23/2023

On March 29, the New Mexico Financial Institutions Division of the Regulation and Licensing Department’s (NM FID) new rule on the New Mexico-Annual Percentage Rate (NM-APR) becomes effective. We previously blogged about New...more

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

Goodwin on 3/4/2022

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Nutter Bank Report: December 2021

Nutter McClennen & Fish LLP on 12/28/2021

FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more

Check Your Rates – Comply with FTC Variable Rate Marketing Guidelines

Orrick, Herrington & Sutcliffe LLP on 3/27/2018

On March 21, 2018 the Federal Reserve lifted its federal funds rate by a quarter percentage point to a range of 1.5% to 1.75%, the highest level since 2008. ...more

ABA highlights error in cost of credit calculation method used in CFPB’s proposed payday loan rule

Ballard Spahr LLP on 1/23/2017

At the meeting earlier this month of the American Bar Association’s Consumer Financial Services Committee in Carlsbad, CA, attention was given to an issue highlighted by the American Bankers Association in the comment letter...more