Newsletters

06.13.22

Comment Deadline Approaching for CA’s Burdensome Proposal on Handling and Reporting Complaints

July 5 is the deadline for submitting comments on the California Department of Financial Protection and Innovation’s proposed regulations on complaint handling and reporting, which would impose significant obligations on certain providers of consumer financial services in California.


04.28.22

Illinois Adopts Regulations Under Predatory Loan Prevention Act

The Illinois Department of Financial and Professional Regulation has adopted a series of regulations pursuant to the Illinois Predatory Loan Prevention Act.


03.03.22

Focus on Crypto and Blockchain: Regulatory Fog Begins to Lift, but Many Questions Remain

The cryptocurrency and blockchain industry has developed over the past decade with a large and increasingly glaring void: What regulations ultimately will apply and who will regulate the space?


02.02.22

CFPB Publishes Latest Regulatory Agenda

The Consumer Financial Protection Bureau (CFPB) published its latest semi-annual regulatory agenda in the Federal Register on January 31, 2022.


01.27.22

CFPB Announces Crackdown on ‘In-House’ Loan Programs Offered by Colleges and Universities

On January 20, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it will examine postsecondary schools’ “in-house” lending practices (the Announcement).


01.18.22

Illinois Set to Impose Significant Obligations on College and Financial Aid Advisory Services

Illinois adopted a first-of-its-kind law regulating entities that advise consumers about college or career searches, financial aid, or scholarships, or that assist with planning, preparing or submitting applications on behalf of a consumer.


01.05.22

Effective Date of NY Commercial Finance Disclosure Law Postponed

Commercial finance providers doing business in New York will have more time to comply with New York’s new law requiring consumer-like disclosures to be made for certain types of commercial financing.


12.23.21

Exemption From California Lender Licensing Law for Single Loan About to Expire

An exemption from the California lender licensing law for a person making a single commercial-purpose loan in a rolling 12-month period is about to “sunset” in California, impacting persons who have relied upon the exemption, including when structuring transactions through ...


12.22.21

What You Need to Know About NY’s Proposed Debt Collection Regulations

On December 15, 2021, the New York State Department of Financial Services published proposed amendments to the state’s debt collection regulations.


12.20.21

CFPB News: Bureau Opens Inquiry Into Buy Now, Pay Later (BNPL) Credit

On December 16, 2021, the Consumer Financial Protection Bureau  announced a “market monitoring” inquiry into “buy now, pay later” credit offered by five companies.