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Goodwin

Connecticut Enacts Law Regulating Earned Wage Access Services

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Connecticut has enacted a law (the amendment) amending the state’s existing small loan act (the act). In this alert, we focus on the amendment’s application of the act to “earned but unpaid wage or salary income advances”...more

Womble Bond Dickinson

California Expands Scope of State’s Fair Debt Collection Practices Act to Certain Commercial Debts

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On September 24, 2023, Governor Gavin Newsom signed SB-1286 which expands California’s Rosenthal Fair Debt Collection Practices Act (California FDCPA) to apply to certain commercial financial products. ...more

Goodwin

California Signs Two New Consumer Protection Bills into Law

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On September 25, 2019, California’s Governor signed into law two bills that impact financial consumer services companies in California: California Assembly Bill 539 and California Senate Bill 187.  Both laws go into effect...more

Shumaker, Loop & Kendrick, LLP

Client Alert: A House Divided: New Risks to Lenders Under Delaware LLC Law

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Recent changes to the Delaware Limited Liability Act (the “Act”) will require modification to Lenders’ forms of loan documentation, at least as they relate to loans to Delaware LLCs. The Act was amended effective as of August...more

Sullivan & Worcester

New Delaware LLC Right of Division

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To maintain its national preeminence, the Delaware Legislature recently amended the State's Limited Liability Company Statute to grant Delaware LLCs a right which will be of concern to lenders. It amended its LLC law to...more

Troutman Pepper Locke

Locke Lord QuickStudy: Rhode Island Superior Court Decision Impacting Servicers

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A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more

Ballard Spahr LLP

California Creates Exemption from Finance Lenders Law for Certain Nonprofits

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The state of California amended its Finance Lenders Law in an effort to help individuals obtain access to affordable, credit-building small dollar loans. The new law makes exempt from Finance Lenders Law a nonprofit...more

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