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Troutman Pepper Locke

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

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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

Troutman Pepper Locke

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

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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

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 19

Biden Administration Extends Student Loan Pause Until January 31, 2022 - "The Department believes this additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the...more

Ballard Spahr LLP

Virginia House of Delegates passes bill to establish 36% rate cap for “short-term” and other loans

Ballard Spahr LLP on

On January 31, 2020, by a vote of 65 to 33, the Virginia House of Delegates passed a bill that would establish a 36% rate cap on certain consumer loans.  Since Democrats also hold a majority in the Virginia Senate, the Senate...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

EU Commission Sends Statement of Objections to Three Banks in Cartel Investigation - On May 20, the European Commission announced that it has sent a statement of objections to Credit Agricole, HSBC and JP Morgan for...more

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