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Lenders › Financial Regulatory Reform › Interest Rates

Hogan Lovells

UK Mortgage Rule Review: FCA takes first step in introducing targeted flexibilities into the regulatory framework

Hogan Lovells on

The FCA has finalised the changes that were proposed in May this year to make it easier for customers to engage with mortgage providers and make reductions to mortgage terms and remortgaging easier. This includes removing the...more

Troutman Pepper Locke

Understanding New York’s New Buy-Now-Pay-Later Law

Troutman Pepper Locke on

New York has included a “Buy-Now-Pay-Later Act” as part of its broader budget legislation for the 2025-2026 fiscal year. Encapsulated in Article 14-B, the Act aims to regulate the burgeoning market of buy-now-pay-later (BNPL)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Servicemember Financial Protections Emerge as a Trump Enforcement Priority

Skadden, Arps, Slate, Meagher & Flom LLP on

Key Points - - The CFPB and DOJ have recently prioritized enforcement of federal servicemember protections. - The Servicemembers Civil Relief Act and Military Lending Act provide key protections such as interest rate caps,...more

Proskauer - Regulatory & Compliance

Motor Finance Complaints – An Update on the FCA’s Recent Activity

Proskauer - Regulatory & Compliance on

On 30 July 2024, the United Kingdom Financial Conduct Authority (“FCA”) published a number of updates in relation to its work on complaints against motor finance firms. In particular, the FCA published an update...more

Sheppard Mullin Richter & Hampton LLP

New Florida Law Overhauls Consumer Finance Loan Interest Rate Requirements

Sheppard Mullin Richter & Hampton LLP on

Florida recently enacted H1347, revising the state’s criteria for what constitutes usurious consumer loans. The Florida Consumer Finance Act prohibits charging an interest rate of more than 18% per year on a loan of...more

Womble Bond Dickinson

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

Womble Bond Dickinson on

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

Cadwalader, Wickersham & Taft LLP

FCA Seeks Feedback on ‘Synthetic’ USD LIBOR

Cadwalader, Wickersham & Taft LLP on

On November 23, the UK’s Financial Conduct Authority (“FCA”) released its further consultation to require the administrator of LIBOR to publish a synthetic version of 1-, 3-, and 6-month U.S. dollar LIBOR settings for a...more

Cadwalader, Wickersham & Taft LLP

FCA Issues Statement on the End of Synthetic Sterling LIBOR

Cadwalader, Wickersham & Taft LLP on

On September 29, the UK’s Financial Conduct Authority (“FCA”) issued a statement that the publication of the 1-month and 6-month synthetic sterling LIBOR would permanently cease at the end of March 2023....more

Proskauer Rose LLP

LIBOR Transition Update

Proskauer Rose LLP on

This LIBOR transition update, directed primarily at private credit lenders, provides a recap of recent trends and reflects new developments on the eve of LIBOR transition for banks, including new SOFR issuance by private...more

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