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Consumer Financial Products › Declaratory Judgments

Orrick, Herrington & Sutcliffe LLP

Complaint challenges New York attorney general’s classification of earned wage access as a loan

Orrick, Herrington & Sutcliffe LLP on

On April 7, an earned wage access (EWA) provider filed a complaint seeking declaratory relief against the New York Office of the Attorney General (OAG) in U.S. SDNY. The plaintiff requested relief from the OAG’s enforcement...more

Woods Rogers

John Byrum and Jay Spruill Convince SCC to Strike Prohibitive Rule Against Consumer Finance Companies

Woods Rogers on

In a cross-practice effort involving WRVB’s Financial Services and Regulatory Compliance practice groups, Richmond attorneys John Byrum and Jay Spruill convinced the Virginia State Corporation Commission (SCC) to strike a...more

Sheppard Mullin Richter & Hampton LLP

Fintech Flips Script, Sues California Regulator Over 36% Rate Cap Law

Sheppard Mullin Richter & Hampton LLP on

On March 7, a Chicago-based FinTech company  filed a Complaint for Declaratory and Injunctive Relief in Los Angeles County Superior Court against the Commissioner of the California Department of Financial Protection and...more

Carlton Fields

Eleventh Circuit Affirms Summary Judgment or Insurer in STOLI Case

Carlton Fields on

In Sun Life Assur. Co. of Canada v. U.S. Bank Nat. Ass’n, the Eleventh Circuit recently clarified that where a life insurance policy lacks an insurable interest at its inception and is thus void ab initio, prejudgment...more

Ballard Spahr LLP

Finance Industry Files Lawsuit to Overturn CFPB Arbitration Rule

Ballard Spahr LLP on

The U.S. Chamber of Commerce, American Bankers Association, the Consumer Bankers Association, Financial Services Roundtable, American Financial Services Association, Texas Association of Business, Texas Bankers Association,...more

Ballard Spahr LLP

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

Ballard Spahr LLP on

The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

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