Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features analysis of how the market continues to swipe left on LIBOR but isn’t ready...more
2/17/2022
/ Collateralized Loan Obligations ,
Commercial Leases ,
Corporate Finance ,
Financial Institutions ,
FinTech ,
Interest Rates ,
Lenders ,
Libor ,
Non-Fungible Tokens (NFTs) ,
Secured Overnight Funding Rate (SOFR) ,
Securitization ,
Structured Finance
Last year, California passed the California Consumer Financial Protection Law (“CCFPL”), which renamed the Department of Business Oversight as the Department of Financial Protection and Innovation (“DFPI”) and expanded the...more
On September 25, 2020, California Governor Gavin Newsom approved Senate Bill 908 – enacting the Debt Collection Licensing Act (DCLA). The DCLA, which takes effect January 1, 2022, requires a person or entity engaging in the...more
Moving on from 2020 and building up for 2021. Read our Structured Finance Spectrum, covering safe harbors & remedies, CLOs & QMs, and passive & ESG investing, among other hot-topic issues in the structured finance markets in...more
1/11/2021
/ Bankruptcy Code ,
Debt Collection ,
Debtors ,
Environmental Social & Governance (ESG) ,
Financial Institutions ,
Financial Markets ,
Fraud ,
Lenders ,
Libor ,
Loans ,
Mortgage Servicers ,
Mortgages ,
Safe Harbors
Our Financial Services & Products Group unpacks a pair of state rules that extend or make permanent regulations authorizing financial institutions to allow employees to work from home....more
A&B ABstract: As we have previously discussed, effective November 27, 2019, Senate Bill 1149 (2019 N.J. Laws 200) (the “Act”), creates New Jersey’s “Student Loan Bill of Rights” and prohibits any person from “act[ing] as a...more
A&B ABstract: On June 13, Louisiana enacted a comprehensive new law imposing a licensing obligation on entities that engage in virtual currency business activity....more
A&B ABstract: On April 22, Virginia enacted a comprehensive new law imposing a licensing obligation on private student loan servicers and substantive restrictions on both private and federal student loan servicers....more
A&B ABstract: On January 21, 2020, New York Governor Andrew Cuomo proposed a measure to license consumer debt collectors as part of his budget bill....more
A&B Abstract:
In the wake of the recent earthquakes in Puerto Rico, the Puerto Rico Office of the Commissioner of Financial Institutions (“OCFI”) released Circular Letter No. CFI-2020-01 (the “Circular Letter”). ...more
A&B ABstract: On January 10, 2020, California Governor Gavin Newsom released his budget summary for 2020 to 2021. ...more
New York’s amended mortgage loan servicer regulations are a substantial departure from previous versions and could go beyond federal rules. Our Financial Services & Products Group delves into technicalities and ramifications...more
A&B ABstract -
Since the New York Department of Financial Services (“NYDFS”) finalized regulations for virtual currency firms in 2015, several regulated virtual currency licensees (“Licensees”) have sought permission to...more
A&B ABstract: New Jersey is the latest state to require the licensing of an entity that passively invests in whole residential mortgage loans on a servicing-released basis or in the servicing rights in such loans....more
A&B ABstract: Amid growing concerns of a student loan crisis, proposed Massachusetts H. 3977 is worth watching....more
A&B ABstract: Arizona launched a first-in-the-nation FinTech Sandbox in August 2018, which has been a successful venture by the state. ...more
A&B ABstract -
Amid growing concerns over the federal government’s “hands off” approach to regulating the student loan business, New York Governor Andrew Cuomo released 3 NYCRR 409, a proposed regulation aimed at providing...more
A&B Abstract:
Nevada recently adopted new regulations allow a natural person to obtain a license by endorsement to engage in business as a mortgage broker or mortgage agent, mortgage loan servicer, or escrow agent or agency,...more
A&B Abstract -
New Jersey recently enacted its own version of a Student Loan Bill of Rights, which requires the licensing of any person acting “directly or indirectly” as a student loan servicer. ...more
It’s hot out there and the market’s even hotter! Cool off with the latest issue of the Structured Finance Spectrum, our newsletter featuring what’s new and newsworthy in structured finance.
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A&B Abstract:
In an effort to position itself as the “Regulator of the Future,” the New York State Department of Financial Services (“NYDFS”) recently launched the Research and Innovation Division, which will be responsible...more
A&B Abstract:
Maine’s New Student Loan Bill of Rights requires the licensing of any person acting as “directly or indirectly” as a student loan servicer. ...more
SECURITIZATION SIDE NOTES – EU Risk Retention: Did This Come with a Gift Receipt? We’d Like to Return It -
A new year brings new laws and regulations into effect, in this case a complicated and confusing gift from our...more
PRACTITIONER NOTES – Frankenstein’s Monster? Rosemary’s Baby? The Twins from the Shining? How Lenders are thinking about the Delaware Division Statute and Division LLCs -
Recent amendments to the Delaware LLC Act (the...more
REGULATORY REPORT – FASB’s New Current Expected Credit Loss Model -
Sharpen your pencils and put on your green eyeshades – the Financial Accounting Standards Board is making major changes to the credit loss accounting...more