Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part II
Consumer Finance Monitor Podcast Episode: Interest Rate Exportation Under Attack Part I
Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for Bank and Nonbank Consumer Financial Services Providers
Podcast: 2023 Deal Cycle - Considerations for Transactions in Uncertain Economic Times - Diagnosing Health Care
DE Under 3: Latest Monthly Jobs Report, Unemployment & the US BLS JOLTS Report
THE WONDER YEARS WEBINAR
Mad Dogs and Panameños!
It's (Not) Too Late, Baby!
Switch Hitter! Maximizing the Flexibility of Split Dollar Life Insurance to Create Maximum Financial and Tax Leverage
SWITCH HITTER! Maximizing the Flexibility of Split Dollar Life Insurance to Create Maximum Financial and Tax Leverage
The Family Loan Shark
Podcast: Credit Funds: Withholding Tax on European Investments
Investment Management Update – Exit Strategies
Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
Will The Debt Ceiling Standoff End Up In Court?
Symptoms of Student Loan Crisis Reveal Bubble About to Burst
With over $62 billion of AUM, Adams Street Partners is a global investor in private equity and private credit. It invests in over 450 global general partners in private equity and directly invests in private credit. As such,...more
LEVEL-SETTING - The banking industry finds itself in the early stages of a transformation. Existing balance sheets have been shaped by more than a decade of low interest rates that fueled asset appreciation, muted...more
On March 31, the New York Fed published a research paper discussing credit card interest rates and what is behind how they are set. The research explored the relationship between the federal funds rate and the annual...more
On March 25, Virginia Governor Glenn Youngkin vetoed two bills that sought to impose new restrictions on “high-risk” artificial intelligence (AI) systems and fintech lending partnerships. The vetoes reflect the Governor’s...more
With four major interest rate benchmarks ceasing to be published by the end of last year, we thought now would be a good time to provide a refresher on alternative currency rates. In this article we first discuss the key...more
On March 11, a class action lawsuit was filed in the Philadelphia County Court of Common Pleas against a financial technology company offering cash advances up to $200 through a lending app. The lawsuit alleged the company...more
Welcome to this edition of Credit Conditions, a quarterly publication from McDermott Will & Emery that analyzes recent debt market trends. The fourth quarter of 2024 marked a pivotal moment in the debt market, as the...more
On January 8, Senate Bill No. 1252 (SB 1252) was introduced to the Virginia General Assembly, aiming to amend and reenact sections of the Code of Virginia related to the application of usury rates. Just two weeks ago, the...more
As 2025 gets underway and a new presidential administration takes shape in Washington, the credit markets are in good health with plenty of available capital to be deployed. We anticipate a busy year ahead. Deal activity was...more
Oregon may become the latest state attempting to stop out-of-state banks from “exporting” home-state interest rates on loans made to Oregon consumers. Like similar legislation adopted by Colorado in 2023, House Bill 2561...more
Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more
On February 4, Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced bipartisan legislation aimed at immediately capping credit card interest rates at 10% for a period of five years. This initiative follows a...more
On January 10, the Alaska Legislature introduced Senate Bill 39 that aims to amend the state’s Small Loan Act. This proposed legislation seeks to implement significant changes, including the introduction of a predominant...more
On January 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report analyzing the auto lending market’s impact on servicemembers. ...more
On January 14, 2025, the federal government sued Capital One, accusing it of deceptive practices related to its “360 Savings” accounts. Consumer Financial Protection Bureau v. Capital One Financial Corp., No. 25-cv-00061...more
In the current world, where trade ties are vital in strengthening the economy of a country, it is often necessary to enter into legal contracts with various entities around the world. It is also necessary that these contracts...more
On January 14, 2025, the CFPB filed a lawsuit against the Bank, alleging violations of the CFPA, TISA, and its implementing Regulation DD. The lawsuit alleges that the Bank deceived customers who were enrolled in the Bank's...more
As detailed in our prior blog the Government of Canada proposed amendments to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the prior criminal interest rate, being an effective rate of 60...more
Entering 2025, the outlook for aviation is as bright as it has been since before 2020. Global passenger demand has returned to pre-Covid highs. Interest rates are falling in the United States and Europe. And aircraft trading...more
In December 2024, the Consumer Financial Protection Bureau (Bureau) rolled out a series of important measures aimed at addressing potential misconduct in the credit card industry, improving consumer protections, and promoting...more
Last week the Supreme Court granted permission to appeal the Court of Appeal's decision in a case examining the permissibility of motor finance commission payments, which challenged traditional legal thinking relating to...more
Lender optimism toward the US economy is on the rise in the near term following the presidential election and is expected to continue that upward trend heading 2025. Meanwhile, interest rates and consumer activity are the two...more
The Servicemember Civil Relief Act limits the amount of interest that may be charged on certain financial obligations that were incurred before military service began to no more than 6% percent per year, including most fees...more
Repricing issuance in US leveraged loan markets has surged in 2024, presenting borrowers with the opportunity to lower their financing costs - US loan repricing activity has approached near-record levels in 2024, with...more
In the last two weeks, several amicus briefs were filed in the Tenth Circuit in the ongoing litigation concerning Colorado’s opt-out from the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Troutman...more