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NJ Bankruptcy Case Takes Aim at Small Business Financing — Merchant Cash Advances and Bank Partnerships

USA - April 10 2017 A complaint filed March 23 by the bankruptcy trustee for Lam Cloud Management, LLC in the United States Bankruptcy Court for the District of New…

Steven M. Kaplan, Eric T. Mitzenmacher

First CFPB Supervisory Highlights Issued Under Director Chopra Cites “Wide-Ranging Violations of Law”

USA - December 10 2021 Earlier this week, the Consumer Financial Protection Bureau released the Fall 2021 edition of its Supervisory Highlights (“Supervisory Highlights” or…

Christa L. Bieker, Stephanie C. Robinson

US Federal Reserve Board Proposes Changes to Corporate Governance and Supervision of Large Financial Institutions

USA - August 25 2017 On August 3, 2017, the Board of Governors of the Federal Reserve System ("Federal Reserve") released proposed supervisory guidance and a notice of…

Matthew Bisanz, David R. Sahr, Jeffrey P. Taft, Donald S. Waack

Consumer Financial Services: UDAAP Round Up

USA - November 7 2022 Welcome to the latest edition of the UDAAP Round-Up. This newsletter is designed to provide you with a periodic resource to stay abreast of federal…

Christa L. Bieker, Christopher B. Leach, Ori Lev, Joy Tsai, Kerri Elizabeth Webb

CFPB Issues No-Action Letter to Alternative Credit Lending Platform

USA - September 18 2017 The Consumer Financial Protection Bureau (“CFPB”) has issued its first No-Action Letter (“No-Action Letter” or “Letter”) in response to a request from…

Matthew Bisanz, Melanie Brody, Ori Lev