News & Analysis as of

Loans Lenders Payday Loans

Sheppard Mullin Richter & Hampton LLP

CFPB Plans Limited Enforcement of Payday Lending Rule

On March 28, the CFPB announced that it will not prioritize enforcement or supervision of the remaining provisions of its Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, which were set to take...more

Orrick, Herrington & Sutcliffe LLP

CFPB announces it will not enforce its payday lending rule

On March 28, the CFPB announced it would not prioritize enforcement or supervision actions related to penalties or fines associated with the payment withdrawal and payment disclosure provisions of the “Payday, Vehicle Title,...more

K&L Gates LLP

Rocky Mountain Low? Implications of the Settlement of Colorado's Challenge to Partnerships Between Banks and Marketplace Lenders

K&L Gates LLP on

The impact of state usury laws on marketplace lending has been an area of concern since the inception of the industry. In a technique borrowed from the payday lending industry, online platforms that make unsecured consumer...more

Morrison & Foerster LLP

Department of Defense Adopts Significant Changes to Its Military Lending Act Regulations

On July 22, 2015, the Department of Defense (DOD) published sweeping changes to its rules that implement the Military Lending Act (MLA). The amended rules significantly expand the scope of the MLA provisions by covering both...more

Davis Wright Tremaine LLP

Federal Reserve Bank of Philadelphia Sponsors Small-Dollar Credit Conference

On July 11-12, 2013, DWT partner Andy Owens attended a conference organized by the Federal Reserve Bank of Philadelphia (Federal Reserve) entitled Small-Dollar Credit: Products, Economics, and Regulation....more

Ballard Spahr LLP

A bad month for payday lenders

Ballard Spahr LLP on

February was not a good month for payday lenders. As previously reported, on February 20, CFPB Director Cordray expressed pointed concerns about payday and short-term loan “debt traps” in a speech to the Consumer Advisory...more

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