11.26.19
A new bill introduced in both houses of Congress would extend the Military Lending Act’s (MLA’s) 36 percent per annum interest rate cap to all consumer borrowers, not just military service members. The change would affect all MLA-covered loans.
11.20.19
The Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board of Governors, Office of the Comptroller (OCC) and National Credit Union Administration (NCUA) have released a proposed Interagency Policy Statement on Allowances for Credit Losses.
11.13.19
The Consumer Financial Protection Bureau (CFPB) is moving forward with new enforcement initiatives even as it concedes its structure is unconstitutional. We discuss the latest developments.
Oversight of student loan servicing remains top of mind for state regulators, with new regulations taking effect in New York, California, Colorado and Maine, and with several other states considering similar measures.
In addition to providing for the establishment of public banks, the recent California legislative session resulted in the passage of a significant bill capping interest rates on certain types of loans.
11.12.19
On September 26, 2019, a proposed ballot measure titled the Fairness for Injured Patients Act was filed in California.
10.30.19
Two executive orders recently signed by President Donald Trump will now require that federal agencies publish all informal guidance and limit its use in enforcement actions.
10.22.19
As part of its review of the Children’s Online Privacy Protection Act (COPPA) Rule, the Federal Trade Commission (FTC) held a public workshop to discuss possible updates.
10.16.19
California Governor Gavin Newsom has signed legislation that prohibits “no rehire” clauses in settlement agreements effective January 1, 2020.
09.30.19
On September 25, 2019, parents with children who require lifelong care after suffering permanent injuries caused or compounded by their medical care filed an initiative in California that would fundamentally change the state’s nearly 45-year-old $250,000 cap on pain-and-suffering-type damages ...