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A&O Shearman

UK House of Lords Committee's Concerns in Relation to Motor Finance Redress Proposals

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The UK's House of Lords Financial Services Regulation Committee (the Committee) published its letter to the FCA, expressing concern and requests for further information in relation to the FCA's motor finance redress...more

Hogan Lovells

Johnson v FirstRand Unpacked

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On 1 August 2025, the Supreme Court handed down its Judgment in the conjoined appeals of Johnson, Wrench and Hopcraft (the Judgment). The case concerned liability arising from the payment of commission by lenders to motor...more

Akin Gump Strauss Hauer & Feld LLP

After the Supreme Court Judgement – What’s Next for Motor Finance Claims in the UK?

The types of consumer credit arrangements at issue in all of the relevant motor finance cases are “three-cornered” transactions. Motor dealers would offer a car for sale, which a member of the public would then see and wish...more

Proskauer - Regulatory & Compliance

Supreme Court Ruling in Hopcraft v Wrench and Johnson v FirstRand Bank

On 1 August 2025, the Supreme Court handed down its long-awaited judgment in Johnson v FirstRand Bank Ltd, Wrench v FirstRand Bank Ltd and Hopcraft & Anor v Close Brothers Ltd – reported together as [2025] UKSC 33....more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Premium Finance Study: Concerns Raised but No Regulatory Changes Proposed

- What is new: Preliminary findings from the Financial Conduct Authority’s (FCA’s) market study of premium finance, which focuses on motor and home insurance, highlight concerns about affordability, value and transparency,...more

A&O Shearman

BNPL UK statutory instrument partially in force

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The UK statutory instrument (The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025) implementing the necessary legislative changes for progressing buy-now, pay-later (BNPL) regulation...more

Mayer Brown

California Senate Bill 784 Builds Out Solar and Home Improvement Financing Regulations

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A bill that would substantially expand solar and home improvement financing requirements is making its way through the California legislature. Senate Bill 784 (“SB 784”) passed the California Senate on June 2, and is now...more

Sheppard Mullin Richter & Hampton LLP

Fifth Circuit Upholds Dallas Fee-Cap & Installment Limits for Short-Term Loans

On July 1, 2025, the U.S. Court of Appeals for the Fifth Circuit affirmed a district court’s denial of a preliminary injunction sought by several short-term lenders challenging amendments to the City of Dallas’s short-term...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Pawn Lender to Pay $9 Million for Alleged Military Lending Act Violations

On July 11, 2025, the Consumer Financial Protection Bureau (CFPB) announced a proposed $9 million settlement resolving its November 2021 lawsuit against a national pawn lender and its subsidiaries. The company and its...more

Orrick, Herrington & Sutcliffe LLP

Connecticut enacts new earned wage access law

On July 8, the governor of Connecticut signed into law SB 1396 to amend the licensing statute for small loan companies and to add a regulatory framework for providers of “earned but unpaid wage or salary income advance.”...more

Orrick, Herrington & Sutcliffe LLP

OCC releases its CRA performance evaluations for June 2025

On July 1, the OCC released CRA performance evaluations for 22 national banks, federal savings associations, and insured federal branches of foreign banks, covering the period from June 1 through June 30. Of the evaluations...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

Massachusetts attorney general settles with student lender for $2.5M for UDAP and fair lending violations from alleged AI...

On July 10, the attorney general from Massachusetts (AG) announced a settlement with a student lender for alleged unfair and deceptive acts and practices in violation of consumer protection and lending laws leading to, among...more

Hudson Cook, LLP

Does the Recent Earned Wage Access Law Change the Regulatory Environment in Arkansas?

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The Arkansas legislature recently passed House Bill 1517, which creates an earned wage access law in the state. It will be one of the relatively few such laws in the country. One interesting question is whether the law...more

Sheppard Mullin Richter & Hampton LLP

Louisiana and Connecticut Advance Earned Wage Access Laws

Louisiana and Connecticut recently passed legislation establishing regulatory frameworks for earned wage access (EWA) providers. Connecticut’s SB 5140 passed the legislature on June 4 and awaits Governor Ned Lamont’s...more

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit denies rehearing of lending company’s restitution challenge

On April 24, the U.S. Court of Appeals for the Ninth Circuit denied a loan company’s petition for rehearing and or rehearing en banc. The lender contested that the $134 million legal restitution it was mandated to pay to the...more

Payactiv

Late Fee Crunch: How Earned Wage Access Helps Consumers Avoid Penalties

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$23 billion. That’s how much Americans paid in late fees last year. When a payment is only a few days behind, late fees for credit cards, utilities, student loans, and rent pile up. And they have proliferated over the last...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Everything You Want to Know About the CFPB as Things Stand Today, and Lots More - Part 1

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Our podcast show being released today is Part 1 of a repurposed interactive webinar that we presented on March 24, featuring two of the leading journalists who cover the CFPB - Jon Hill from Law360 and Evan Weinberger from...more

Troutman Pepper Locke

Dialing In: The TCPA and Auto Finance — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal, hosts Brooke Conkle and Chris Capurso from Troutman Pepper Locke's Consumer Financial Services Practice Group explore the complexities of the Telephone Consumer Protection Act (TCPA) and...more

Morrison & Foerster LLP

MoForecast: State AGs and Consumer Financial Protection: Anticipating Shifts in Enforcement Focus

As the Consumer Financial Protection Bureau (CFPB) faces uncertainty, state attorneys general (state AGs) are poised to fill the enforcement gap in consumer financial protection. With the CFPB’s future in question, state AGs...more

Husch Blackwell LLP

Alternative Commercial Finance Monthly | February 2025

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Last month, we reported several laws scheduled to take effect this year. The first was the Commercial Financing Disclosure Law in Missouri. We have previously summarized this statute for commercial finance brokers who engage...more

Cadwalader, Wickersham & Taft LLP

UK Supreme Court Rejects Treasury’s Intervention in Motor Finance Claims

As set out in our previous Cabinet News & Views issue of December 2024 here, the Court of Appeal has found that some commissions paid to car dealerships for arranging loans were potentially unlawful as the loan agreements did...more

Bennett Jones LLP

Lower Criminal Interest Rate Now in Effect

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As detailed in our prior blog the Government of Canada proposed amendments to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the prior criminal interest rate, being an effective rate of 60...more

Sheppard Mullin Richter & Hampton LLP

CFPB Sues Fintech for Deceptive Practices Surrounding Tipping Service

On May 17, the CFPB filed a lawsuit against a California-based fintech that operates a nationwide website and mobile-application based peer-to-peer lending platform through which consumers can obtain small-dollar, short-term...more

Ballard Spahr LLP

Predatory Loan Prevention Bill Introduced in Florida to Codify “True Lender” Analysis

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Florida SB 146, a bill that would add a “Predatory loan prevention” section to the Florida Consumer Finance Act has been introduced in the Florida Senate, seeking to curb bank-model lending programs and codify a “true lender”...more

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