Newsletters

09.14.23

CFPB Loses Major UDAAP Case

On September 8, 2023, the U.S. District Court for the Eastern District of Texas issued an opinion and order vacating a March 2022 anti-discrimination update to the UDAAP section of the Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) Supervision and ...


09.11.23

The CFPB’s Summer 2023 Supervisory Highlights

The Consumer Financial Protection Bureau’s (CFPB or Bureau) Summer 2023 Supervisory Highlights, which discusses key examination findings between July 2022 and March 2023, underscores the Bureau’s continuing aggressive interpretations of its authority.


08.29.23

SEC Adopts New Private Fund Adviser Rules

On August 23, 2023, a divided U.S. Securities and Exchange Commission issued new rules relating to the regulation of private fund advisers.


08.21.23

California Imposes More Regulation on Commercial Financing

After being the first state to impose disclosure requirements on small business finance transactions, California has now added an annual reporting requirement and subjected commercial finance companies to UDAAP claims. 


07.17.23

Both SEC and Ripple Claim Victory in Important Securities Decision

The crypto industry secured a key victory in its court battles with the Securities and Exchange Commission (SEC or Commission) on Thursday, July 13, when Judge Analisa Torres of the U.S. District Court for the Southern District of New York said that Ripple did not break the law when the ...


07.13.23

Blockchain Update: Lummis-Gillibrand Crypto Regulation Bill Reintroduced Following Tumultuous Year

Sens. Cynthia Lummis (R. Wyo.) and Kristen Gillibrand (D. N.Y.) have reintroduced their landmark bipartisan crypto bill known as the Lummis-Gillibrand Responsible Financial Innovation Act (“Lummis-Gillibrand Act” or “LG Act”).


06.22.23

DOJ Provides Guidance on Factors That Will Influence Future Bank Merger Reviews

In remarks before the Brookings Institution on June 20, 2023, Assistant United States Attorney General Jonathan Kanter provided detailed insights into the work by the Department of Justice’s Antitrust Division to implement President Biden’s 2021 Executive Order on Promoting Competition ...


06.12.23

Commercial Financing Disclosure Laws Continue to Spread

U.S. states continue to consider and adopt statutes requiring TILA-like disclosures in connection with various types of commercial financing transactions. 


05.10.23

Colorado’s Attempt to Prevent State Banks From Exporting Home State Interest Rates May Fail

The Colorado legislature proposed HB 23-1229, which would, among other things, opt the state out of Sections 521 to 523 of the Depository Institutions Deregulation and Monetary Control Act, thereby seeking to prevent federally insured state-chartered banks from lending in Colorado at the rates ...


04.11.23

The Next Regulatory Shoe To Drop: Predictions Following Recent Bank Failures

Recent bank failures followed by stresses on other regional banks have resulted in a variety of theories of causes and predictable finger-pointing among various constituencies, followed by proposals for new legislative and regulatory restrictions.