News & Analysis as of

Lenders Bank Accounts

Cadwalader, Wickersham & Taft LLP

Under Control March 2024 - How to Address Your Control Issues

One of the important components of the collateral package for a subscription finance facility is the lender’s perfected security interest in the fund’s bank deposit account into which the actual cash constituting the proceeds...more

Orrick, Herrington & Sutcliffe LLP

CFPB imposes $15 million penalty on lender for violating 2019 order

On November 15, the CFPB announced a consent order against a Chicago-based small-dollar lender for allegedly violating a 2019 order and by independently violating the CFPA. According to the 2019 consent order, the respondent...more

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