News & Analysis as of

Lenders State and Local Government

Jones Day

New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

Jones Day on

On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents....more

Orrick, Herrington & Sutcliffe LLP

Fifth Circuit affirms lower court’s decision against short-term lender

On July 1, the U.S. Court of Appeals for the Fifth Circuit affirmed a lower court’s decision denying a short-term lender’s request for a preliminary injunction against the City of Dallas over the City’s new lending...more

Orrick, Herrington & Sutcliffe LLP

Rhode Island updates mortgage licensing provisions

On June 24, the governor of Rhode Island signed into law H 5811 to amend the Secure and Fair Enforcement for Mortgage Licensing Act of 2009. The amendment changes the law to prohibit an individual who is licensed as both a...more

Ballard Spahr LLP

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

Ballard Spahr LLP on

Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Mayer Brown

Licensing Link - June 2025

Mayer Brown on

Licensing Link is a periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on important issues related to state licensing across the...more

Mayer Brown

North Dakota Broadens Licensing Law to Include Alternative Financing

Mayer Brown on

North Dakota recently enacted legislation that amends the state’s main non-mortgage lender licensing law, the North Dakota Money Brokers Act (the “Act”), to define a “loan” to include any “alternative financing product” that...more

Orrick, Herrington & Sutcliffe LLP

Tennessee enacts new home loan rate

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

Sheppard Mullin Richter & Hampton LLP

Maryland Enacts Law Exempting Passive Trusts from Mortgage and Installment Loan Licensing Requirements

In January 2025, the Maryland Office of Financial Regulation (the “OFR”) issued a guidance stating that assignees of residential mortgage loans, including certain passive trusts, were required to hold a Maryland mortgage...more

Orrick, Herrington & Sutcliffe LLP

Maryland enacts law clarifying license changes for mortgage assignees

On April 22, the governor of Maryland approved HB 1516 / SB 1026, the Maryland Secondary Market Stability Act of 2025 (the “Act”), which exempts certain trust entities acquiring Maryland mortgage loans, including passive...more

Alston & Bird

Consumer Finance State Roundup

Alston & Bird on

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from three states: Arkansas: House Bill 1184, which we expect to take effect on or about August 8, amends...more

Hudson Cook, LLP

The CFPB's Future is Unclear, but Its $42 Million Judgment Still Sends a Clear Message

Hudson Cook, LLP on

If we could use only one word to describe the future of the Consumer Financial Protection Bureau, I think most of us would agree on the word "uncertain." However, one thing seems certain to occur as we wait to see what will...more

Sheppard Mullin Richter & Hampton LLP

Maryland OFR Responds to Market Concerns Over Licensing Requirements for Mortgage and Installment Loan Assignees

On February 18, the Maryland Office of Financial Regulation (OFR) issued an alert to address industry concerns regarding its January guidance on licensing requirements for assignees of residential mortgage and installment...more

Sheppard Mullin Richter & Hampton LLP

FDIC Withdraws Support for Colorado’s Opt-Out Law Before Tenth Circuit

On February 26, the FDIC withdrew its amicus brief in the 10th Circuit Court of Appeals challenging Colorado’s 2023 opt-out law which aimed to restricting higher-cost online lending. The FDIC’s decision follows a shift in the...more

Sheppard Mullin Richter & Hampton LLP

Class Action Certified Against Fintech Lender for Home Improvement Loans

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

Greenbaum, Rowe, Smith & Davis LLP

A Review of the New Jersey Legislature’s Latest Amendments to the New Jersey Aspire Program

On December 19, 2024, the New Jersey legislature passed legislation amending multiple sections of statute governing the New Jersey Aspire Program, most importantly as it relates to the state purchase of unused tax credits....more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Law Expanding Mortgage Borrower Protections

Effective November 23, 2024, the Texas Department of Savings and Mortgage Lending (the “DSML”) adopted new rules affecting mortgage loan companies, mortgage bankers, individual residential mortgage loan originators, and...more

Sheppard Mullin Richter & Hampton LLP

New Florida Law Overhauls Consumer Finance Loan Interest Rate Requirements

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

Sheppard Mullin Richter & Hampton LLP

Kansas Enacts Earned Wages Access Law

On April 19, less than a month after Wisconsin’s enacted legislation, Kansas has followed suited by enacting comprehensive earned wages access legislation. Kansas’ law is set to take effect immediately upon publication....more

Sheppard Mullin Richter & Hampton LLP

Kansas Introduces New Commercial Financing Disclosure Law

On April 17, the Kansas Legislature signed SB 345, to become the most recent state to enact disclosure requirements for small business lenders. The law’s requirements apply to “providers” which are defined as persons who...more

Orrick, Herrington & Sutcliffe LLP

Washington enacts SB 6025 addressing certain lending practices

On March 25, the Governor of the State of Washington signed SB 6025 (“the Act”) into law. The Act would prohibit covered entities from (i) making loans disguised as personal property sale or leaseback transactions; (ii)...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

Bilzin Sumberg

4 Trends That Will Shape Florida Real Estate in 2024

Bilzin Sumberg on

As commercial real estate markets across the U.S. cope with rising costs and slowing demand, Florida has been a rare bright spot. The Sunshine State has welcomed a record number of people and businesses in recent years, and...more

Ballard Spahr LLP

Five Things Every Office Building Owner (and Its Lender) Should Consider

Ballard Spahr LLP on

The drumbeat of the challenges facing almost every corner of the office building market should be loud and clear to owners and lenders. For some, the current situation is dire, while for others it will likely worsen in the...more

J.S. Held

Examining the Uniform Commercial Real Estate Receivership Act in Shaping Arizona’s Real Estate Receiverships

J.S. Held on

Historically, Arizona courts have granted receivers certain powers and duties related to commercial real estate and certain residential property in accordance with A.R.S. § 12-1241,1 and A.R.S. § 12-1242.2 For example,...more

Ballard Spahr LLP

California Supreme Court Upholds Restrictions on Default Interest Penalties

Ballard Spahr LLP on

Summary - The California Supreme Court denied review of the California 1st District Court of Appeal decision in Honchariw v. FJM Priv. Mortg. Fund, LLC, 83 Cal. App. 5th (2022) resting the holding as current law in...more

67 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide