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Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

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As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Troutman Pepper

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

Troutman Pepper on

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

White & Case LLP

SOFR amendments poised to ramp up in Q1 2023

White & Case LLP on

While US dollar (USD) LIBOR has all but vanished from new-issue loans in 2022, the vast majority of the US loan market is comprised of legacy transactions that remain tied to the retiring rate. For every US institutional loan...more

Bradley Arant Boult Cummings LLP

New Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion Provisions

Beginning next year, New Mexico will join a handful of other states (including, among others, California, Illinois, and Colorado) setting stringent interest rate caps on consumer loans. House Bill 132, which Gov. Michelle...more

Perkins Coie

Oregon COVID-19-Related Borrower Protections Signed Into Law

Perkins Coie on

Oregon Governor Kate Brown signed House Bill 4204 (HB 4204) into law on June 20, 2020. The new statute affects lenders of both commercial and residential loans secured by Oregon real estate. It requires lenders to defer loan...more

Ballard Spahr LLP

Illinois enacts law to fund income share agreements; distinguishes them from loans

Ballard Spahr LLP on

Illinois’ Democratic legislature recently passed, and its progressive Democratic Governor, J.B. Pritzker, recently signed into law, the Student Investment Account Act, which establishes a Student Investment Account to be...more

Foley & Lardner LLP

New European Legislation Creating Headaches (and Opportunities) for Borrowers

Foley & Lardner LLP on

New legislation gives European regulators the power to write-down, change the terms of, cancel, and convert into equity the liabilities (including loan commitments) of troubled European lenders. New credit agreements...more

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