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Hughes Hubbard & Reed LLP

Private Credit and Secured Hedges — Drafting Issues to Avoid

Hughes Hubbard & Reed LLP on

This article addresses numerous drafting issues identified in New York-law governed direct lending transactions that have either caused borrowers to seek amendments or the presence of which have caused secured hedge providers...more

Husch Blackwell LLP

CFPB Floats Rescission of NBR Rule

Husch Blackwell LLP on

The Consumer Financial Protection Bureau (CFPB) continues to redefine its priorities, and among the many policies targeted for change, the “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders”...more

Mayer Brown

Private Credit Portfolio Back Leverage

Mayer Brown on

AT A GLANCE - The rise of the direct lending market has led to a dramatic rise in supporting liquidity strategies to optimize the market.  These strategies include the use of financings to provide market participants with...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA 2025 Supervisory Priorities: International Banks and UK Deposit Takers

Skadden, Arps, Slate, Meagher & Flom LLP on

On 21 January 2025, the UK’s Prudential Regulation Authority (PRA) published two supervisory letters outlining 2025 priorities for international banks and UK deposit takers, respectively. In this note, we look at some of the...more

A&O Shearman

European Banking Authority Publishes Report on Non-Bank Lending Sector

A&O Shearman on

The European Banking Authority has published a report on the EU non-bank lending sector i.e., the growing number of financial intermediaries operating outside the EU financial services regulatory perimeter, including BigTech...more

Moore & Van Allen PLLC

The Future Dominant Reference Rate of the Loan Market: Will There Be One Rate to Rule Them All?

Moore & Van Allen PLLC on

On July 29, 2021, the Alternative Reference Rates Committee (“ARRC”) of the Federal Reserve formally announced and recommended1 CME Group’s forwardlooking Term Secured Overnight Financing Rate (“Term SOFR”) rates.2 Important...more

Goodwin

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Burr & Forman

CFPB Begins Supervising Nonbank Auto Finance Companies

Burr & Forman on

Beginning August 31, 2015, the CFPB will begin supervising nonbank auto finance companies pursuant to 12 C.F.R. 1090.108. The Final Rule provides that auto finance companies that qualify as “larger participants of a market...more

Baker Donelson

CFPB Shifts Focus to Auto Lending Industry

Baker Donelson on

Auto lenders and servicers be advised: the Consumer Financial Protection Bureau (CFPB) turns its lonely eyes to you. On June 17, 2015, the CFPB brought an action in the Southern District of Ohio against Security National...more

Troutman Pepper

Valid at Inception Rule Shot Down by the Second Circuit

Troutman Pepper on

Marketplace lenders and investors that purchase interests in loans originated by banks should pay close attention as it could spawn a host of class action lawsuits if left standing. In a controversial opinion decided on...more

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