Newsletters

10.03.22

Student Loan News: California Proposes Updated Licensing and Servicing Regulations

In an effort to clarify the regulatory framework applicable to new education financing methods such as Income Share Agreements (“ISAs”), installment payment plans and other alternative financing methods, the California Department of Financial Protection and Innovation has proposed to ...


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 ...


08.17.22

SEC Investigates Possible Brokerage Activities Linked to Token Listings

Following the recent filing of the SEC’s insider trading complaint against a former manager of Coinbase Global, Inc. (“Coinbase”), the SEC is now investigating Coinbase.


08.04.22

SEC Enforcement Case Labels Some Cryptocurrency Tokens as Securities

In the long running question of whether cryptocurrency tokens are securities, the Securities and Exchange Commission has volleyed new claims against a former employee of Coinbase Global, Inc., alleging insider trading of securities listed on the exchange.


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, ...