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Financing Loans Consumer Financial Products

Manatt, Phelps & Phillips, LLP

California Commercial Financing Registration Requirement Passes Senate

Increased regulation of commercial financing shows no signs of stopping. California SB 1482, which would require commercial financing providers and brokers to register with the California Department of Financial Protection...more

Seyfarth Shaw LLP

White House Implements Plans to Facilitate Office-to-Residential Conversions

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Seyfarth Synopsis: With the cooperation of federal agencies such as the Department of Housing and Urban Development (HUD) and the Department of Transportation (DOT), the White House has established plans to use grants and...more

Cadwalader, Wickersham & Taft LLP

FFForEver August 2023 - Lender Intel: A First Glance at Q2 Call Reports

The FDIC set up the SVB bridge bank on March 26, which meant that Q1 bank earnings reports and industry data largely reflected a business environment that had ceased to exist by the time the numbers hit the tape. With the Q2...more

Troutman Pepper

Nebraska Enacts Loan Licensure Requirement for Marketers, Servicers and Purchasers of Interests in Certain Bank Loans

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On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92, which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to...more

Cadwalader, Wickersham & Taft LLP

Happy FFFourth! June 2023 - FFA European Fund Finance Symposium Review, Part 2

We reported in last week’s edition of Fund Finance Friday on some of the significant themes and topics at the FFA 7th Annual European Fund Finance Symposium....more

Goodwin

Tougher Standards for Certain Home Improvement Loans

Goodwin on

On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a report and a proposed rule to clarify and strengthen its regulation of so-called Property Assessed Clean Energy (PACE) financing. PACE financing is...more

Cadwalader, Wickersham & Taft LLP

Springing into Q2 April 2023 - FFF Sovereign Immunity Series – Part VIII: England & Wales

For our eighth installment in the FFF Sovereign Immunity Series, we consider the doctrine of sovereign immunity in England & Wales. We begin with our usual disclaimer that sovereign immunity is a complex legal and tax...more

Cadwalader, Wickersham & Taft LLP

Springing into Q2 April 2023 - LIBOR Transition Update: Synthetic LIBOR Is Here

Back in March of 2021, we covered a number of developments pertaining to the end of LIBOR that came out of certain announcements made early that month by the Intercontinental Exchange Benchmark Administration (the “IBA”),...more

Cadwalader, Wickersham & Taft LLP

Time for a Term Loan? March 2023 - Term Loan Solutions in Fund Finance

Interest rates rise, demand exceeds supply and the fund finance market adapts to a changing landscape. As we seek depth and breadth of new liquidity in our market, we have often wondered how to bring more non-bank lenders...more

Cadwalader, Wickersham & Taft LLP

E Is for Earth Day … and ESG - April 2022 | Issue No. 172 - Q1 Bank Earnings Takeaways

First Quarter bank earnings clarified the new operating environment in 2022 in which loan growth will continue to be a key driver of earnings growth and valuation. Fund finance business lines can continue to be a material...more

Allen Matkins

California Bill Would Ban This Unusual "Purpose Credit"

Allen Matkins on

Regulation U, 12 CFR § 221.1 – 221.125, imposes certain requirements for lenders, other than securities brokers and dealers, who extend credit secured by margin stock.  Regulation U defines "purpose credit" as "any credit for...more

Cadwalader, Wickersham & Taft LLP

And the Beat Goes On - January 2022 | Issue No. 157 - NAV Finance Market Update

Between Omicron, the holidays, and down-to-the-wire end-of-year closings, it was a hectic finish to 2021. But now that the calendar reads 2022, we wanted to reflect this week on the state of the NAV finance market and provide...more

Manatt, Phelps & Phillips, LLP

New York Commercial Financing Disclosure Requirements Take Effect Soon

On September 21, 2021, the New York Department of Financial Services (NYDFS) released its pre-proposed regulations to implement the commercial financing disclosure requirements in S5470-B and S898. The ten-day outreach...more

Hogan Lovells

Impact of coronavirus on loans in Italy (UPDATED)

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We describe below the legal impact on Italian loan transactions of the current health emergency caused by COVID-19 in light of the latest legislative measures, including a suspension of interest and principal payments on...more

Orrick, Herrington & Sutcliffe LLP

LIBOR Primer

The reference rate provided by selected panel banks to the LIBOR administrator, ICE Benchmark Administration (IBA) and that is used to establish interest rates on many loans, notes, bonds and other financings, derivatives,...more

Ballard Spahr LLP

CA DBO concludes certain point-of-sale financing arrangements are loans, not credit sales

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On December 30, 2019, the California Department of Business Oversight (DBO) announced two actions regarding companies offering unregulated, point-of-sale financing to California residents.  In the first action,  the DBO...more

Bricker Graydon LLP

Greater Cincinnati Energy Alliance has record-breaking year for PACE financing

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Bricker & Eckler LLP congratulates Greater Cincinnati Energy Alliance (GCEA) on a record-breaking year in Property Assessed Clean Energy (PACE) financing transactions. In 2019, GCEA has closed 24 PACE loans valued at nearly...more

Ballard Spahr LLP

Small business borrowers bring lawsuit alleging lender engaged in “rent-a-charter” scheme to make usurious loans

Ballard Spahr LLP on

A group of small businesses and their individual owners have filed a putative class action lawsuit in a New York federal district court against online lender Kabbage, Inc. that alleges Kabbage engaged in a “rent-a-charter”...more

Ballard Spahr LLP

Movement on two California bills implicating the California Financing Law

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There was movement last week on two California bills that we have been tracking closely and which could substantially alter the lending and brokering landscape under the California Financing Law (“CFL”)....more

Bricker Graydon LLP

Ohio will become fourth state to offer residential PACE for energy improvements

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Homeowners in Summit, Franklin and Lucas Counties will soon have access to low-interest loans for energy efficiency improvements through property assessed clean energy (PACE) financing. In Summit County, the City of Barberton...more

Ballard Spahr LLP

Georgia Supreme Court Ruling Is Helpful Precedent for Litigation Financing Industry

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Consistent with the weight of authority, the Georgia Supreme Court has ruled that certain litigation financing agreements structured as asset sales were not disguised "loans," and therefore not subject to the state's...more

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