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Consumer Lenders › Creditors › Borrowers

McGlinchey Stafford

Podcast: Deep Dive into Unsecured Lending [More with McGlinchey, Ep. 79]

McGlinchey Stafford on

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

McGlinchey Stafford

Court Finds No TILA Violation for Not Providing TILA Disclosures During Pre-Approval Process

McGlinchey Stafford on

In a recent case, the United States District Court for the District of Connecticut granted a motion to dismiss, finding that the Defendant had no obligation to provide disclosures under the Truth in Lending Act (TILA) during...more

Ballard Spahr LLP

FTC Complaint Alleges Deception and Discrimination in Fintech’s Subscription Cash Advance Offerings

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On January 2, the Federal Trade Commission (FTC) filed a complaint against FloatMe Corp. (“FloatMe”), a fintech that offers short-term cash advances through its mobile app, alleging violations of the FTC Act, the Restore...more

Ballard Spahr LLP

DoD to propose amendment to MLA regulations on auto financing

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The Department of Defense announced in its Fall 2019 rulemaking agenda that it is engaged in proposed rulemaking to amend its Military Lending Act (MLA) regulations, apparently in order to allow non-bank creditors to provide...more

Husch Blackwell LLP

Creditors' Liability Under WCA Limited By Wisconsin Supreme Court

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The Wisconsin Supreme Court recently delivered a welcome victory for creditors under the Wisconsin Consumer Act (WCA), limiting creditors’ liability for a failure to comply with the WCA’s procedural requirements, in a case,...more

Orrick - Finance 20/20

EBA Consults on its Benchmark Rate Under the MCD

Orrick - Finance 20/20 on

The Mortgage Credit Directive (2014/17/EU) (MCD) requires that creditors create two illustrative examples for variable rate mortgages on the basis of a benchmark rate specified by the EBA. Consequently, the EBA has developed...more

Stinson LLP

CFPB Takes Action Against Second Indirect Auto Finance Company in Three Days

Stinson LLP on

On October 1, 2015, the Consumer Financial Protection Bureau (CFPB) announced its second enforcement action in three days against an indirect auto finance company. In its latest action, the CFPB took aim at indirect auto...more

Ballard Spahr LLP

NY Amends Debt Collection Regulations, Issues More Guidance

Ballard Spahr LLP on

The New York Department of Financial Services (DFS) has amended several provisions of its Third-Party Debt Collector and Debt Buyer Regulations and issued additional guidance in the form of new frequently asked questions...more

Ballard Spahr LLP

84 House members urge expedited CFPB action on small business lending data collection rules

Ballard Spahr LLP on

84 House members recently wrote to the CFPB to urge it to expedite rulemaking to implement the small business lending data requirements of Dodd-Frank Section 1071. Section 1071 amended the ECOA to require financial...more

Davis Wright Tremaine LLP

Revised Military Lending Act Rules Impose New Compliance Obligations on a Wide Variety of Creditors

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The Department of Defense (DOD) recently finalized amendments to its Military Lending Act (MLA) regulations that impose new compliance obligations on a wide variety of creditors, including issuers of credit cards and...more

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