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Ballard Spahr LLP

Senators Sanders, Hawley introduce legislation to cap credit card interest rates at 10%

Ballard Spahr LLP on

Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more

Troutman Pepper Locke

CFPB Announces “Payday Loan” Rule to Take Effect Next Year

Troutman Pepper Locke on

Last Week, the Consumer Financial Protection Bureau (CFPB) announced that its so-called “Payday, Vehicle Title and Certain High-Cost Installment Loans” rule (Rule) will go into effect on March 30, 2025. While ostensibly aimed...more

Ballard Spahr LLP

More States Mull Interest Rate Preemption and “Anti-Evasion” Legislation

Ballard Spahr LLP on

Rhode Island, Minnesota, and Nevada have joined the list of jurisdictions considering proposals to legislatively opt out of federal interest rate preemption established under the federal Depository Institutions Deregulation...more

Troutman Pepper Locke

CFPB Issues First Report on Results of Its Updated Terms of Credit Card Plans Survey

Troutman Pepper Locke on

Recently, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its first report on the results of its updated Terms of Credit Card Plans survey. The report found that for the first half of 2023, small banks and...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Orrick, Herrington & Sutcliffe LLP

Check Your Rates – Comply with FTC Variable Rate Marketing Guidelines

On March 21, 2018 the Federal Reserve lifted its federal funds rate by a quarter percentage point to a range of 1.5% to 1.75%, the highest level since 2008. ...more

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