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Consumer Lenders › Proposed Legislation › Loans

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

Troutman Pepper Locke

Alaska Proposes Amendments to Small Loan Act Targeting Banking-as-a-Service Programs

Troutman Pepper Locke on

On January 10, the Alaska Legislature introduced Senate Bill 39 that aims to amend the state’s Small Loan Act. This proposed legislation seeks to implement significant changes, including the introduction of a predominant...more

Allen Matkins

California Bill Would Ban This Unusual "Purpose Credit"

Allen Matkins on

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

Ballard Spahr LLP

House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

Bradley Arant Boult Cummings LLP

Consumer Lending Industry Targeted by the Alabama Legislature

Bradley Arant Boult Cummings LLP on

Last month, a group of 45 members of Alabama’s House of Representatives introduced a proposed amendment to the Alabama Constitution that would cap the interest rate a lender may charge an individual on a “consumer loan, line...more

Ballard Spahr LLP

NY Licensing Proposal Threatens New Burdens on Financial Services Providers, Reduced Credit Availability

Ballard Spahr LLP on

Proposed legislation to implement New York Governor Andrew Cuomo's 2018 Fiscal Year Executive Budget would amend the New York Licensed Lender Law to significantly extend its licensing requirements. The proposal threatens to...more

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