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White & Case LLP

Side Letters: Just Paper Tigers, Or Do They Roar?

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Side letters document bespoke arrangements between all or certain parties to a financing transaction and supplement the terms of the principal documents thereto. Becoming increasingly popular with stakeholders, and with the...more

Bass, Berry & Sims PLC

Swiss Finance Company to Pay Almost $4 Million for Sanctions Violations

Bass, Berry & Sims PLC on

On March 14, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) announced that EFG International AG (EFG), a Switzerland-based bank, had agreed to pay roughly $3.74 million to settle allegations that it had...more

Perkins Coie

California DFPI Orders Consumer Financing Platform To Cease Hidden Junk Fees

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On January 9, the California Department of Financial Protection and Innovation (DFPI) issued an order against a consumer financing platform that enables merchants to offer installment contracts to their customers. The...more

Sheppard Mullin Richter & Hampton LLP

CFPB Continues its War on Fees

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The CFPB recently proposed two rules on its continuing war on so-called junk fees. The first rule, proposed on January 17, target’s bank overdraft programs. Currently, financial institutions that extend overdraft loans...more

Allen Matkins

Court Rules That Debate And Litigation Do Not Necessarily A Controversy Make

Allen Matkins on

In June of 2022, I reported on the adoption of commercial financial disclosure rules by the California Department of Financial Protection & Innovation.  These rules were adopted pursuant legislation, SB 1235, that was enacted...more

A&O Shearman

D&I disclosures: what D&I information will the UK regulators expect financial services firms to disclose?

A&O Shearman on

The UK financial services regulators’ proposals for creating a new regulatory framework for diversity and inclusion (D&I) in financial services include proposals that in-scope firms report various aspects of their D&I data on...more

McDermott Will & Emery

Pflicht zur ESG-Kundenbefragung gilt zukünftig auch für Finanzanlagenvermittler

McDermott Will & Emery on

Nun also auch die Finanzanlagenvermittler! Das Bundeswirtschaftsministerium hat am 11. November 2022 einen Referentenentwurf für eine „Verordnung zur Änderung der Gewerbeanzeige- und der Finanzanlagenvermittlungsverordnung“...more

Katten Muchin Rosenman LLP

New York Department of Financial Services Alters Effectiveness Date of New Commercial Financing Disclosure Laws

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New York's Department of Financial Services (DFS or Department) has used its authority to extend a statutorily-mandated January 1, 2022, effective date. As we previously reported in our September 30 Client Alert, the DFS...more

Katten Muchin Rosenman LLP

New York Department of Financial Services Issues Proposed Rules Implementing Commercial Financing Disclosure Laws

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On September 21, 2021, the State of New York Department of Financial Services (DFS) issued proposed regulations that will implement statutory requirements related to commercial financing disclosures for certain types of...more

Morrison & Foerster LLP

CFPB Amends Prepaid Accounts Rule and Delays its Effective Date

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On January 25, 2018, the Consumer Financial Protection Bureau (CFPB or “Bureau”) finalized amendments (“2018 Amendments”) to its final Prepaid Accounts Rule (“Final Rule”), which was published in November 2016. The Bureau...more

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