• 09.22.22

    California Enacts Legislation Regulating GAP Waivers

    In an effort to reduce allegedly “unnecessary junk products” sometimes included in automobile financing, on September 14, Governor Gavin Newsom signed into law Assembly Bill 2311, further regulating motor vehicle conditional sales contracts and the terms of guaranteed asset protection ...

  • 07.18.22

    California Regulator Proposes Debt Collector Licensing Rules

    Months after the California Debt Collection Licensing Act took effect and covered persons were required to submit applications to obtain licenses, the Department of Financial Protection and Innovation has proposed regulations that if adopted will help clarify who may be covered and therefore needed ...

  • 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.

  • 05.02.22

    FTC Proposes Expansion of TSR That May Impact SMB Lending

    The Federal Trade Commission (FTC) issued a press release announcing a notice of proposed rulemaking and an advance notice of proposed rulemaking seeking public comment on possible changes to the Telemarketing Sales Rule  “extending protections against telemarketing tricks and ...

  • 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.

  • 04.04.22

    Utah Enacts Commercial Finance Disclosure and Registration Law

    Merchant Cash Advance providers, commercial litigation funders, online SMB lending platforms and other nonbank small-business lenders, take note: Following the lead of California and New York, Utah is now the third state to enact disclosure requirements for commercial lending transactions.

  • 03.21.22

    CFPB Pushes Equity Envelope via Updated UDAAP Examination Manual

    While credit-related products have long been subject to the anti-discrimination requirements of the Equal Credit Opportunity Act (ECOA), providers of non-credit financial products, such as payments, credit reporting services, deposit accounts, remittance transfers, and debt collectors and buyers, ...

  • 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).

  • 01.05.22

    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.

manatt-black

ATTORNEY ADVERTISING

pursuant to New York DR 2-101(f)

© 2022 Manatt, Phelps & Phillips, LLP.

All rights reserved