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Lenders › Interest Rates › New Legislation

Orrick, Herrington & Sutcliffe LLP

Tennessee enacts new home loan rate

Orrick, Herrington & Sutcliffe LLP on

On April 28, the governor of Tennessee signed into law HB 908 to amend the maximum effective interest rate for home loans originated in the state. The new law sets the rate at four percentage points above the average prime...more

Hudson Cook, LLP

Alaska's Anti-Evasion Bill: A Threat to Small Business Lending and Modern Bank-Fintech Partnerships

Hudson Cook, LLP on

A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more

Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

Bennett Jones LLP on

As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Hudson Cook, LLP

Much Ado About Colorado

Hudson Cook, LLP on

One of the beauties of the national banking system is that it allows state-chartered banks to offer uniform credit products across the 50 states without having to worry about state interest rate caps. This concept - rate...more

Bradley Arant Boult Cummings LLP

New Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion Provisions

Bradley Arant Boult Cummings LLP on

Beginning next year, New Mexico will join a handful of other states (including, among others, California, Illinois, and Colorado) setting stringent interest rate caps on consumer loans. House Bill 132, which Gov. Michelle...more

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