News & Analysis as of

Coronavirus/COVID-19 Financial Institutions Consumer Financial Products

Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms... more +
Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms helping to make sense of insurance, employment, tax, securities, M&A, risk management, and every other consideration touched by this crisis. Follow the channel for a daily email brief of the latest and best updates. less -
Cozen O'Connor

Hundreds of Millions Lost by Seniors Due to Bankruptcies Filed by CCRC Communities

Cozen O'Connor on

The Wall Street Journal has reported that recent bankruptcies nationwide in the Continuing Care Retirement Community (CCRC) segment of the long-term care marketplace have resulted in residents losing their buy-in deposit....more

McGlinchey Stafford

CFPB Issues Auto Finance Supervisory Highlights Sharing Marketing, Servicing, and Add-on Findings

McGlinchey Stafford on

A new “Auto Finance Special Edition” of the Consumer Financial Protection Bureau’s (CFPB or Bureau) Supervisory Highlights was released on October 7, 2024, and it is important for those overseeing compliance in their auto...more

Ballard Spahr LLP

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic

Ballard Spahr LLP on

The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more

Nelson Mullins Riley & Scarborough LLP

Treasury Announces a Second Application Round for ECIP Investments

The United States Department of the Treasury (“Treasury”) recently announced that a second application round has opened for investments in eligible Minority Depository Institutions (“MDIs”) and Community Development Financial...more

White & Case LLP

Financial institutions M&A: Consumer Finance

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Financial institutions M&A sector trends: consumer finance — H1 2021 and outlook for H2 2021 - Hyper-specialisation of the European consumer finance market continues, with POS, entrepreneur, freelancer, migrant and payroll...more

Hudson Cook, LLP

CFPB Bites of the Month - September Top 10

Hudson Cook, LLP on

So what happened at the CFPB in the past month? Bite #10 - Trade groups submitted a letter to the House Subcommittee supporting HR 4773 - Nearly 30 trade groups, led by the Consumer Bankers Association (CBA), submitted...more

Hudson Cook, LLP

CFPB Bites of the Month - August Top 10

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So what happened at the CFPB in the past month? Bite #10 - The CFPB celebrated 10 years. On July 19, Americans for Financial Reform (AFR) invited CFPB Acting Director Dave Uejio to speak at a celebration of the...more

Emmet, Marvin & Martin LLP

COVID-19 AND THE LAW: MAC/MAE Clauses in New York Credit Agreements

With the COVID-19 pandemic continuing to adversely impact businesses across the globe, for the past year lenders have been reviewing their portfolios for credit degradation. Credit agreements will often contain a clause in...more

Morrison & Foerster LLP

Financial Services Report - Summer 2021

As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more

Goodwin

PPP Extended; CFPB Revokes Pandemic-Related Regulatory Relief

Goodwin on

In This Issue. President Biden signed a bill extending the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) through May 31, 2021; the Consumer Financial Protection Bureau (CFPB) announced the rescission...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: CFPB Announces Results of its Prioritized Assessments of CARES Act and Other Borrower Protections in Light of...

On January 19, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) published a special edition of its Supervisory Highlights focused on its COVID-19 Prioritized Assessments. As Cadwalader previously wrote, the...more

King & Spalding

CFPB Focus on Payday Lending: A Look Around the Corner

King & Spalding on

With the change of administration in Washington, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) is widely expected to assume a posture of aggressive enforcement of consumer protection laws. One area that we...more

Burr & Forman

COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr & Forman on

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt...more

Hudson Cook, LLP

CFPB Releases Report on COVID's Impact on Consumer Credit, with Some Surprising Results

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Crazy times, right? Chances are you've heard this refrain numerous times over the last seven months, most notably on Zoom calls during the crushing silence of someone on the call forgetting to unmute his or her microphone....more

Goodwin

Federal Reserve Proposes Rules To Modernize Regulations That Implement CRA

Goodwin on

In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more

Hogan Lovells

Consumer finance regulatory news, August 2020 #2

Hogan Lovells on

High-cost credit: FCA review into relending - The UK Financial Conduct Authority (FCA) has published its findings following a review, which was carried out before the coronavirus pandemic, into relending by firms offering...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] In the Trenches: Operating During the Crisis -- CFPB Agenda for 2021 and Beyond - July 16th, 11:00 am - 12:00 pm EDT

The impact of the coming election, current pandemic and recent SCOTUS decision all have enormous impacts on the CFPB and the regulation of consumer finance. Join us for a review of the probable direction of the CFPB and what...more

BCLP

COVID-19 CFPB Access to Credit Guidance

BCLP on

TRID Rescission Waiver Rule & ECOA Valuations FAQ - On April 29, 2020, the Consumer Financial Protection Bureau (CFPB) released additional information which Director Kathleen Kraninger said she hopes “will help consumers...more

White & Case LLP

COVID-19 Response: US financial services regulatory

White & Case LLP on

In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more

Womble Bond Dickinson

In the Context of Corporate Lending, Should Parties Push the Pause Button?

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The COVID-19 pandemic has wreaked havoc on financial markets and businesses around the world. In a time of social distancing, constrained supply chains, depressed demand in almost all sectors of the economy, and tightening of...more

Hogan Lovells

Impact of the Coronavirus outbreak on Finance Sector

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On 31 January 2020, the World Health Organization has announced the outbreak of novel coronavirus (2019-nCov), sourced from Wuhan, as a Public Health Emergency of Concern. The impact of the coronavirus outbreak, social...more

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