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Loans Regulatory Requirements Financial Services Industry

UB Greensfelder LLP

Resolving Financial Covenant Defaults in Revolving Lines of Credit: Real-World Strategic Considerations for ABL Borrowers

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The scenario is common enough: following a slow quarter, a borrower misses a debt service coverage ratio (DSCR), fixed charge coverage ratio (FCCR), or other financial covenant test required under its revolving credit...more

GeoDataVision

The Answers to the CRA Questions Everyone is asking: What must we do on April 1?

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With April 1, 2024, the effective date for the new CRA rule fast approaching, every bank is asking what must we do on April 1? Here are the answers....more

White & Case LLP

Extension of consumer protection to farmers - new rules for entering into contracts

White & Case LLP on

On January 7, 2024, the Act of April 14, 2023, on Consumer Lombard Loans (the "Act") entered into force. The Act introduces significant changes in financing provided to farmers and extends consumer protection to farmers....more

Troutman Pepper

Calif. Banking Brief: The Notable Compliance Updates in Q3

Troutman Pepper on

The California Department of Financial Protection and Innovation, or DFPI, continued to have significant influence over legislative and regulatory developments in the third quarter of 2023. Originally published in Law360 -...more

Mayer Brown

Fund Finance Reporting Requirements Proposed by US Banking Regulators

Mayer Brown on

On December 27, 2023, the US federal banking regulators proposed reporting requirements for bank loans and commitments to the fund finance sector. This change reflects not only the rapid growth in this sector but also the...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Cadwalader, Wickersham & Taft LLP

New Season, New Playbook September 2023 - Updated LSTA Regulatory Guidance – U.S. Sanctions Issues in Lending Transactions

The LSTA has regularly prepared and updated the LSTA Regulatory Guidance: U.S. Sanctions Issues in Lending Transactions (the “LSTA Guidance”). The LSTA Guidance contains a comprehensive review of sanctions, including...more

Ballard Spahr LLP

Nebraska enacts new licensing requirement for small dollar loans

Ballard Spahr LLP on

Nebraska Governor, Jim Pillen, signed into law Legislative Bill 92 on June 6, 2023, which amended the Nebraska Installment Loan Act (the “Act”) effective June 7, 2023 (the “Effective Date”). As amended, the licensing...more

ArentFox Schiff

Potential Approaching Storm in Commercial Real Estate: Recent Updating of Great Recession Guidance

ArentFox Schiff on

Nearly 14 years ago, guidance was provided by federal regulators to facilitate commercial real estate loan work-outs. Rather than ‘extend & pretend,’ regulators had encouraged, and are encouraging, banks to work with...more

Cadwalader, Wickersham & Taft LLP

Small Business Lenders Subject to New CFPB Data Reporting Rule

Resulting from a lawsuit by the California Reinvestment Coalition against the Consumer Financial Protection Bureau (“CFPB”) in 2019 for its failure to promulgate a small business lending data rule in compliance with the...more

Woods Rogers

John Byrum and Jay Spruill Convince SCC to Strike Prohibitive Rule Against Consumer Finance Companies

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In a cross-practice effort involving WRVB’s Financial Services and Regulatory Compliance practice groups, Richmond attorneys John Byrum and Jay Spruill convinced the Virginia State Corporation Commission (SCC) to strike a...more

Manatt, Phelps & Phillips, LLP

Illinois Adopts Regulations Under Predatory Loan Prevention Act

The Illinois Department of Financial and Professional Regulation (IDFPR) has adopted a series of regulations pursuant to the Illinois Predatory Loan Prevention Act (PLPA). The new regulations will require certain Illinois...more

Manatt, Phelps & Phillips, LLP

Exemption From California Lender Licensing Law for Single Loan About to Expire

An exemption from the California lender licensing law for a person making a single commercial-purpose loan in a rolling 12-month period is about to “sunset” in California, impacting persons who have relied upon the exemption,...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Foodman CPAs & Advisors

What do you do if you are a Financial Institution with COVID-19 Loan Accommodations near the end?

On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC)  issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans  that are near the end of an initial loan...more

Hogan Lovells

COVID-19: Measures taken by financial supervisory authorities in certain jurisdictions - as at 17 April 2020

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The current situation is fast-moving in light of the COVID-19 pandemic. Many financial supervisory and regulatory authorities as well as local governments have issued measures which are relevant for financial institutions...more

Mayer Brown

Revising the Regulatory Definition of a Qualified Mortgage

Mayer Brown on

When the federal Consumer Financial Protection Bureau (“CFPB”) last summer issued its Advance Notice of Proposed Rule Making (“ANPR”) to revise the definition of a “Qualified Mortgage” (“QM”) under the Dodd-Frank Act’s...more

Morgan Lewis

Protecting Your Investment: Insights For 2020

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Investors and investment managers around the globe are seeing increasing rules and regulations on how they can deploy their money, how they can advertise their services, and how they have to report to regulators. ...more

Carlton Fields

Changes to the Index Product Illustration Requirements Are No Child’s Play

Carlton Fields on

The NAIC’s Annuity Disclosure Working Group and IUL Illustration Subgroup continue to chalk out changes to the Annuity Disclosure Model Regulation (Model) and Actuarial Guideline 49 (AG 49) to address index product...more

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