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Consumer Lenders › Pending Legislation

Troutman Pepper Locke

The Big Beautiful Bill and the Effects on Bank Lending Into the US

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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

Holland & Knight LLP

Florida Legislature Clarifies FCCPA to Allow Overnight Email Contact with Debtors

Holland & Knight LLP on

The Florida Legislature unanimously approved Senate Bill (SB) 232 on April 29, 2025, to update and clarify the Florida Consumer Collections Practices Act (FCCPA) by removing email communications from the list of prohibited...more

Hudson Cook, LLP

New York Financing Arrangements Bill Would Have Major Implications for Commercial Financing

Hudson Cook, LLP on

A bill before the New York State Assembly would, if passed, have major implications for a variety of financing transactions in the Empire State. Titled the End Loan Sharking Act, Assembly Bill 9585 would subject a variety of...more

Troutman Pepper Locke

Massachusetts Introduces Earned Wage Access Product Legislation

Troutman Pepper Locke on

On February 15, Massachusetts became the latest state to introduce legislation to regulate earned wage access (EWA) products and services. House Bill (HB) 4456 would create a new chapter to the Massachusetts Code explicitly...more

Goodwin

Bipartisan FDCPA Servicemembers Act Passes Through House

Goodwin on

The U.S. House of Representatives unanimously passed a bipartisan bill, H.R. 5003 - also referred to as the Fair Debt Collection Practices for Servicemembers Act - aimed to enhance protections for servicemembers against debt...more

Ballard Spahr LLP

Congress Passes Legislation Addressing VA Refinance Loan Issues

Ballard Spahr LLP on

The Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act) enacted last year includes a provision to protect veterans from loan churning by providing, among other requirements, that a loan to a veteran...more

Ballard Spahr LLP

CA on the verge of requiring commercial finance disclosures

Ballard Spahr LLP on

It appears likely that California Governor Jerry Brown will sign a bill passed on August 31 by the state’s Senate, Senate Bill 1235, which would create consumer-style disclosure requirements for certain commercial loans and...more

Hogan Lovells

Novel use of the Congressional Review Act to repeal CFPB Indirect Auto Lending Guidance

Hogan Lovells on

On April 18, the Senate voted to repeal the Consumer Financial Protection Bureau's (CFPB) 2013 Guidance on Fair Lending Practices to Indirect Auto Lenders (2013 Guidance) using the Congressional Review Act (CRA). The vote was...more

Goodwin

Senate Passes Economic Growth, Regulatory Relief and Consumer Protection Act

Goodwin on

On March 15, 2018, the U.S. Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155)–a bipartisan bill that LenderLaw Watch reported on as a piece of legislation to watch back in December. In...more

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