News & Analysis as of

Small Business Truth in Lending Act (TILA) Consumer Financial Protection Bureau (CFPB)

Ballard Spahr LLP

NCLC Asks CFPB to Consider Residential Leases as Credit for Specific Purposes

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The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 2, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2024

OCC Requests Public Comments on Proposed Bank Merger Policy Statement and Rules The OCC has proposed a new policy to increase the transparency of the standards that the agency applies to review business combinations involving...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 5, May 2023

Survey Finds Small-Business Lending Fraud on Rise - “Lending fraud with small and midsize businesses has increased significantly over the last 12 months, and many financial institutions expect it to get worse, according to...more

Troutman Pepper

CFPB's Section 1071 Final Rule (Part 3): Potential Problem Areas – The Consumer Finance Podcast

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Please join Troutman Pepper Partner Chris Willis and his colleagues Mark Furletti, Joe Reilly, and Christine Emello for the last installment of a special three-part series about the Consumer Financial Protection Bureau’s...more

Orrick, Herrington & Sutcliffe LLP

California: TILA does not preempt state laws on commercial financial disclosure

On January 20, California Attorney General Rob Bonta sent a comment letter to CFPB Director Rohit Chopra in response to a preliminary determination issued by the Bureau in December, which concluded that commercial financial...more

Moore & Van Allen PLLC

States Look to Impose Financing Disclosure Requirements on Commercial Loans and the CFPB Considers Potential TILA Preemption...

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In December 2021, the Bureau of Consumer Financial Protection (or the “CFPB”) issued a notice and request for comment (the “Notice”) on its intention to make a preemption determination regarding the Truth in Lending Act...more

Mayer Brown

CFPB Preliminarily Determines State Commercial Financing Disclosure Laws Not Preempted by Truth in Lending Act

Mayer Brown on

Small business lenders hoping for federal intervention will be disappointed to learn that the Consumer Financial Protection Bureau (CFPB) has reached a preliminary determination that New York’s new commercial financing...more

Morrison & Foerster LLP

CFPB Poised to Conclude TILA Does Not Preempt State Commercial Financing Disclosure Laws

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On December 15, 2022, the Consumer Financial Protection Bureau (CFPB) published a notification of intent to make a preemption determination and requested public comment. In the Federal Register notice, the CFPB reported that...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Manatt, Phelps & Phillips, LLP

CFPB Releases Prepaid Rule Guidance

The Consumer Financial Protection Bureau (CFPB) released guidance on the agency's forthcoming Prepaid Rule, set to take effect on October 1, 2017. Although described as aimed at "small businesses," the guidance is useful for...more

Burr & Forman

Dodd-Frank News: September 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

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In This Issue: - Recent Cases ..CFPB Involvement in Litigation ..Say-On-Pay Voting ..Constitutional Challenges to Dodd-Frank ..TILA Rescission ..Dodd-Frank Amendment to the Securities and...more

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