Point-of-Sale Finance Series: Understanding the Development and Regulation of Buy Now, Pay Later Products — The Consumer Finance Podcast
Welcoming a New Payment Pro: Jason Cover Joins the Payments Pros Podcast — Payments Pros – The Payments Law Podcast
Driven by Data: Auto Finance Trends Uncovered - Moving the Metal: The Auto Finance Podcast
Shifting Gears: Adapting to Regulatory Changes in Auto Finance — Moving the Metal: The Auto Finance Podcast
Mock Jury Exercises: Enhancing Litigation Strategy in Consumer Financial Services Cases — The Consumer Finance Podcast
UDAAP and Fair Lending Developments: 2024 Year-in-Review and 2025 Predictions — The Consumer Finance Podcast
2024 Privacy Trends and Their Impact on Auto Finance – Moving the Metal: The Auto Finance Podcast
Consumer Finance Monitor Podcast Episode: Consumer Federation of America (“CFA”) Speaks Out About CFPB’s and FTC’s Direction During the Trump Administration
The CFPB's Nonbank Registry Rule: Challenges and Implications — The Consumer Finance Podcast
Navigating CFPB Enforcement: Key Takeaways From the Global Tel Link Consent Order — Payments Pros – The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Post-Election Insights: Impacts on the Banking and Consumer Financial Services Industry
Lemon Law Shakeup: Rodriguez vs. FCA US Has Unexpected Result – Moving The Metal Podcast
Fintech Focus Podcast | Reconciling AI With Fair Lending and Consumer Protection
Consumer Finance Monitor Podcast Episode: An Empirical Study of Boilerplate in Consumer Contracts
The CFPB Highlights Alleged Deceptive Debt Collection Practices
CFPB's Supervisory Highlights on Auto-Finance and Auto-Servicing — Moving the Metal: The Auto Finance Podcast
CFPB’s Supervisory Highlights on Auto-Finance and Auto-Servicing — The Consumer Finance Podcast
Breaking Granite: Understanding New Amendments to the New Hampshire Retail Installment Sales Act — Moving the Metal: The Auto Finance Podcast
Introducing Heryka Knoespel: A New Partner at Troutman Pepper — The Consumer Finance Podcast
Podcast - Supreme Court Upholds CFPB Funding Structure
The next episode in McGlinchey’s Deep Dive into Lending series takes a close look at unsecured lending with insights from Aaron Kouhoupt and Adam Maarec. They discuss innovations in loan applications, underwriting, and...more
Connecticut has enacted a law (the amendment) amending the state’s existing small loan act (the act). In this alert, we focus on the amendment’s application of the act to “earned but unpaid wage or salary income advances”...more
Every year, foreign lenders make thousands of loans to U.S. entities. The U.S. withholding tax on the related interest payments has been generally stable since 1984. The general rule is that interest paid under these loans...more
It’s here at last—well, the next set of steps towards a brave new dawn for consumer credit, at least. No sooner have we taken down the bunting and put the final champagne glasses in the dishwasher, having celebrated the 40th...more
On March 24, U.S. SDNY released its opinion and order granting dismissal, in part, with respect to counts two through five (and related claims under count six) in a case the CFPB brought against a loan company group (the...more
On December 16, the CFPB released a special edition of its Supervisory Highlights, which detailed findings from the Bureau’s recent examinations of student loan markets. The report identifies a range of violations related to...more
CFPB examiners have identified a variety of illegal practices across student loan markets, the bureau said, in a special edition [add the link here] of its Supervisory Highlights. The report covers alleged violations related...more
On November 26, the U.S. District Court for the Northern District of Georgia granted the CFPB’s motion for default judgment against the defendant, an auto loan servicing company, determining that the defendant’s bankruptcy...more
In the UK, 14 million people used “buy now, pay later” (BNPL) at least once in the six months leading up to January 2023. Frequent users were more than four times as likely as other consumers to have missed a payment on a...more
HM Treasury has published its long-awaited response to the February 2023 consultation on its proposed approach to bringing Buy-Now Pay-Later (BNPL) within the FCA’s regulatory perimeter. The government is clear that “swift...more
As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more
Recently, the Governor of Florida signed into law H1347 (the “Act”) which revises current exceptions to the state’s prohibition on usurious contracts for consumer finance loans of $25,000 or less where a lender charges an...more
The California Finance Lenders Law prohibits any "person" from engaging in the business of a "finance lender" without a license, unless otherwise exempt. Cal. Fin. Code § 22100(a). The CFL defines a "finance lender" as...more
Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning October 1, 2022 and ending March 31, 2023. ...more
The White House signaled last week that, with the resumption of federal student loan payments, federal student loan servicers can expect to face increased scrutiny. The Department of Education issued a “Framework for Student...more
Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features smooth sailing through safe harbors, the English Court doing the cross-class...more
On May 15, the Mortgage Bankers Association, the National Association of Home Builders, and the National Association of Realtors filed a joint amici curiae (friend of the court) brief in connection with the case challenging...more
On March 16, 2023, the Consumer Financial Protection Bureau (CFPB) issued a bulletin cautioning loan servicers about their responsibility to stop any illegal activity related to private student loans that have been discharged...more
The California Financing Law currently requires the licensing of "finance lenders" and "brokers". Cal. Fin. Code § 22100. A "finance lender" is defined to include "any person who is engaged in the business of making...more
The Center for Responsible Lending (CRL) and the Consumer Bankers Association (CBA) have filed a joint petition with the CFPB that urges the Bureau to engage in rulemaking to define larger participants in the market for...more
Although they have been around for many years, it is becoming more common for a commercial loan lender to require that the borrower’s counsel provide it with an opinion letter. At first blush, this may seem like an oddity:...more
The federal Truth In Lending Act (TILA) is a consumer protection statute designed to protect borrowers from unfair lending practices. When a consumer loan is secured by the borrower’s residence, the TILA gives the borrower...more
Beginning next year, New Mexico will join a handful of other states (including, among others, California, Illinois, and Colorado) setting stringent interest rate caps on consumer loans. House Bill 132, which Gov. Michelle...more
Regulation U, 12 CFR § 221.1 – 221.125, imposes certain requirements for lenders, other than securities brokers and dealers, who extend credit secured by margin stock. Regulation U defines "purpose credit" as "any credit for...more
On March 21, 2020, New York Gov. Andrew Cuomo issued New York Executive Order 202.9, “Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency" (the “Executive Order.”) The Executive Order...more