Results 1 to 5 of 16

CFPB Finds Multiple Consumer Finance Violations in National Bank’s Overdraft Practices

USA - September 3 2020 On August 20, the Consumer Financial Protection Bureau (CFPB) entered a consent order with a National Bank over the sales and marketing practices for…

Gordon M. Bava, Scott M. Pearson

CFPB Provides Additional Guidance on CARES Act Credit Reporting

USA - June 19 2020 On June 16, 2020, the Bureau of Consumer Financial Protection (CFPB) released a Compliance Aid in the form of ten FAQs (FAQs) on…

Richard E. Gottlieb, Charles E. Washburn, Jr., Scott M. Pearson

Colorado State Court Follows Madden, Continuing Bank-Model Uncertainty

Italy, USA - June 12 2020 The Colorado attorney general (AG) has won the first round of a prominent fight over bank-model lending. On June 9, 2020, a Colorado state court…

Brian S. Korn, Scott M. Pearson

Main Street Lending Program Expanded Again

USA - June 10 2020 On June 8, the Federal Reserve once again released new term sheets for its Main Street Lending Program, further expanding access for a wider spectrum…

Neil S. Faden, Brian S. Korn, Jonathan H. Lemberg, Scott M. Pearson, Thomas J. Poletti

Seventh Circuit Denies Stay of Injunction, Potentially Opens PPP Doors for More Small Businesses

USA - June 3 2020 On May 20, 2020, the U.S. Court of Appeals for the Seventh Circuit sided with a lower court which invalidated applying the “Ineligibility Rule” by…

Richard E. Gottlieb, Brian S. Korn, Scott M. Pearson