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Cozen O'Connor

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

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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

Alston & Bird

Payments Docket | July 2025

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The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features the CFPB dropping most of its caseload, several states’ decisions to pick up the slack, and...more

Sheppard Mullin Richter & Hampton LLP

New York Enacts BNPL and Overdraft Fee Restrictions

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On May 9, the NYDFS announced that Governor Kathy Hochul signed New York’s FY2026 Budget into law, enacting two major consumer financial protection measures. The budget establishes a licensing and supervision framework for...more

Sheppard Mullin Richter & Hampton LLP

Class Action Certified Against Fintech Lender for Home Improvement Loans

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In an order issued in January and made public on February 24, a judge in the United States District Court for the Northern District of California granted class certification to consumers alleging a fintech lender’s loan...more

Alston & Bird

Payments Docket – December 2024

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The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features why the CFPB’s open banking rule is under fire, a convenience fee that steals your lunch...more

Ballard Spahr LLP

OCC issues guidance on managing risks associated with “buy now, pay later” lending

Ballard Spahr LLP on

The Office of the Comptroller of the Currency (OCC) has issued a bulletin (2023-37) that provides guidance on managing risks associated with “buy now, pay later” (BNPL) lending.  The BNPL loans addressed in the bulletin are...more

Orrick, Herrington & Sutcliffe LLP

FHFA delays effective date of DTI ratio-based fee

Orrick, Herrington & Sutcliffe LLP on

On March 15, FHFA delayed the implementation of a new debt-to-income ratio-based fee to August 1, in order to ensure lenders have sufficient time to prepare. In January, FHFA made several changes relating to upfront fees for...more

Cozen O'Connor

CFPB Shines a Spotlight on Junk Fees in Bank Deposits, Lending Markets

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The CFPB issued a special edition of its Supervisory Highlights focusing on illegal, unnecessary charges by banks and other financial companies sometimes referred to as “junk fees.”...more

Goodwin

Peer-to-Peer Lender Agrees to Pay $18 Million to Settle FTC Suit

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​​​​​​​On July 14, 2021, the Federal Trade Commission (FTC) entered into a settlement agreement with a national peer-to-peer personal loan lender to resolve allegations stemming from 2018 lawsuit that the FTC had filed in the...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

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In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

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