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Orrick, Herrington & Sutcliffe LLP

Nevada regulates consumer lenders doing business remotely

Orrick, Herrington & Sutcliffe LLP on

On May 28, the governor of Nevada approved SB 437, establishing requirements for consumer lenders operating outside the state over the internet. Under the new law, an “Internet consumer lender” is defined as an entity that...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 2, February 2023

Spilman Thomas & Battle, PLLC on

Community Banks Renew Fight Against ILCs - “ICBA reiterates opposition to non-bank-owned lenders’ applications to the FDIC, naming GM, Ford, Rakuten.” Why this is important: The Independent Community Bankers of...more

Sheppard Mullin Richter & Hampton LLP

Google To Ban Payday Loan Advertisements

Sheppard Mullin Richter & Hampton LLP on

Google announced on May 11 that effective on July 13, 2016 it will ban all payday loan advertisements from its site. Google was responding to concerns raised by consumer advocates who argued that the lending practice...more

Ballard Spahr LLP

CFPB files lawsuit against Internet payday loan companies

Ballard Spahr LLP on

The CFPB has filed a complaint in federal district court in New York against a group of commonly-controlled companies for allegedly engaging in unlawful conduct in connection with making payday loans over the Internet. With...more

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