• 03.31.20

    New Small Business Administration Paycheck Protection Program Information

    The Treasury Department released additional information today regarding the Paycheck Protection Program that has been authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

  • 03.30.20

    Congressional Action—Lending Programs and Relief Provisions Under the CARES Act

    On March 27, 2020, President Donald Trump signed into law the CARES Act, an approximately $2 trillion stimulus package to mitigate the adverse economic effects of the COVID-19 pandemic.

  • 03.26.20

    New York Orders Fee Waivers, Mortgage Forbearance

    The New York Department of Financial Services (DFS) released guidance for its regulated financial institutions and mortgage servicers in light of the COVID-19 pandemic, authorizing banks to take “reasonable and prudent actions” to work with consumers and small businesses that have been ...

  • 03.09.20

    The SEC Proposes to Expand Capital-Raising Opportunities for Reg D, Reg A and Crowdfunding Offerings

    On March 4, 2020, the Securities and Exchange Commission (SEC) issued proposed rules to simplify certain aspects of exempt offerings with the goal of expanding access to capital for issuers and increasing opportunities for investors. The proposed rules are set forth in SEC Release No. ...

  • 02.13.20

    CSBS Reports On Progress in Implementing Vision 2020

    What progress has the Conference of State Bank Supervisors (CSBS) made in implementing the 2019 recommendations of the Fintech Industry Advisory Panel (the “Advisory Panel”) related to Vision 2020, its bold approach to modernizing and streamlining the state licensing and supervision of ...

  • 01.09.20

    Manatt Fintech: What to Expect in 2020

    Taking a break after eight brisk years of regulatory and litigious turbulence, the world of fintech and marketplace lending in 2019 was notable for being more business as usual, or what some might call a “ho hum” year of upward growth.

  • 12.24.19

    PayPal Hits CFPB With Lawsuit Over Prepaid Rule

    PayPal, Inc., filed suit against the Consumer Financial Protection Bureau (CFPB) recently, challenging the Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z) Rules as a violation of its First Amendment rights.  

  • 12.04.19

    OCC, FDIC Propose Madden Fix Regulations

    In a welcome development for fintechs, lenders and investors, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) separately have proposed regulations to address the substantial uncertainty created by the Second Circuit’s decision in Madden ...

  • 10.16.19

    Lawmakers Urge Rulemaking to Overturn Madden

    In Madden v. Midland Funding, LLC, the Second Circuit refused to rule that the National Bank Act (NBA) pre-empted state law usury claims against an assignee of a national bank.

  • 09.25.19

    Eleventh Circuit Tosses Online Lender’s Forum Selection, Class Waiver Clauses

    Siding with six consumers who filed suit asserting violations of state usury laws against online lenders, the U.S. Court of Appeals for the Eleventh Circuit has affirmed a decision by the U.S. District Court for the Southern District of Georgia, holding that the enforcement of forum selection ...

manatt-black

ATTORNEY ADVERTISING

pursuant to New York DR 2-101(f)

© 2024 Manatt, Phelps & Phillips, LLP.

All rights reserved