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Consumer Lenders Contract Terms Financial Services Industry

Hudson Cook, LLP

New York Courts Appear Skeptical of Certain Fees in Sales-Based Financing Transactions

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On February 11, 2025, the Supreme Court of New York, Nassau County, ordered a hearing on whether a financing contract between Square Funding LLC and Walsh Roofing Services of Tampa Bay, LLC, was a "merchant cash advance"...more

Ballard Spahr LLP

CFPB issues UDAAP guidance on contracts for consumer financial products and services

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On June 4, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a Consumer Financial Protection Circular 2024-03 (“Circular”) warning that the use of unlawful or unenforceable terms and conditions in contracts for...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – April 2020

Welcome to Consumer Law Hinsights?a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. This edition highlights our interactive COVID-19...more

Bradley Arant Boult Cummings LLP

Maryland Court of Appeals Bars Confessed Judgment Clauses in Consumer Contracts

A recent decision from the Maryland Court of Appeals provided somewhat surprising new guidance on the permissibility of confessed judgment clauses in consumer contracts. In Goshen Run Homeowners Association, Inc. v. Cisneros,...more

Orrick, Herrington & Sutcliffe LLP

The LIBOR Transition – What a Legacy!: Legislative Solutions/ Constitutional Law Considerations

As noted in our Financial Industry Alert published on January 17, 2020, one of the most daunting challenges for the forthcoming transition from LIBOR to an alternative reference rate has to be the impact of the prospective...more

Ballard Spahr LLP

CA DBO concludes certain point-of-sale financing arrangements are loans, not credit sales

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On December 30, 2019, the California Department of Business Oversight (DBO) announced two actions regarding companies offering unregulated, point-of-sale financing to California residents.  In the first action,  the DBO...more

Carlton Fields

Tenth Circuit Affirms Partial Enforcement of Arbitration Clause

Carlton Fields on

The Tenth Circuit recently affirmed a district court’s decision partially compelling arbitration. Jesse Romero took out three title loans with TitleMax of New Mexico, Inc. Romero used his third loan to pay off his second loan...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...

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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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