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Refresher: EU Capital Requirements Directive 6 (“CRD6”) – What Cross-Border Financial Institutions Need to Know

Many US and other non-EU financial institutions which lend or undertake trade finance business on a cross border basis into Europe do so in reliance upon exemptions under local law.  These exemptions typically permit these...more

Ballard Spahr LLP

Vermont exempts bank partners from loan solicitation license for commercial loans

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We have been following closely efforts by state regulators, state legislatures and the courts to restrict, or in some cases prohibit, bank model lending programs, so the recent guidance from the Vermont Department of...more

Holland & Knight LLP

New Jersey Improves and Clarifies Its Residential Mortgage Lending Act

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• The State of New Jersey, on Aug. 24, 2018, enacted Assembly Bill 2035 that makes significant and important amendments (Amendments) to the Residential Mortgage Lending Act (RMLA), which had not been amended since it was...more

Ballard Spahr LLP

Minnesota Supreme Court rules schools needed lending license to make student loans

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The Minnesota Supreme Court recently ruled that two for-profit postsecondary education schools had charged usurious interest rates on student loans and could not charge rates greater than 8% without obtaining a lending...more

Ballard Spahr LLP

Hawaii Revises Mortgage Loan Origination Licensing Requirements

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Hawaii revised the following mortgage loan origination provisions of the Secure and Fair Enforcement for Mortgage Licensing Act, including, but not limited to...more

Ballard Spahr LLP

Connecticut Adds New Licenses to NMLS

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The Nationwide Mortgage Licensing System (NMLS) is now accepting new applications and transition filings for new industry licenses for the Connecticut Department of Banking (Department). The Department is requiring companies...more

Troutman Pepper

Virtual Currency, Real Risks

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CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more

Ballard Spahr LLP

Several New States Adopt the National SAFE MLO Test with Uniform State Component

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New York, Ohio, Oklahoma, and Connecticut are the latest states to announce that they will be adopting the National SAFE Mortgage Loan Originator (MLO) Test with Uniform State Content. The New York Department of Financial...more

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