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Finance & Bankruptcy Law Blog Blog

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NIGC Issues New Guidance on Financing Document Reviews and Declination Letters

USA - October 7 2021 The National Indian Gaming Commission (“NIGC”) issued guidance this week for tribes and tribal lenders who submit loan documents to the NIGC for a…

Seven Commandments for the Financially Distressed Company

USA - October 6 2021 Most restructuring professionals will tell you that there is no “typical” restructuring. That is absolutely true. Every financially distressed…

LSTA Publishes Term SOFR Concept Document

USA - September 7 2021 On August 25, the LSTA published its Term SOFR Concept Document (the “Term SOFR Concept Document”)—the latest addition to its suite of SOFR-based…

ARRC formally recommends term SOFR

USA - August 2 2021 As expected, on July 28, 2021, the Alternative Reference Rates Committee (ARRC) formally recommended the CME’s SOFR Term Rate. The SOFR Term Rate is…

CFPB Takes Action Against FinTech Company for Originating Unauthorized Loans

USA - July 19 2021 On July 12, the CFPB issued a consent order against a FinTech company for facilitating point of sale financing activities without authorization from…

Federal Agencies Request Comments on Risk Management Guidance for Third-Party Relationships

USA - July 19 2021 On July 13, the Federal Reserve, FDIC, and OCC proposed risk management guidance to help banking organizations manage risks related to third-party…

FHFA Releases Policy Statement On Fair Lending

USA - July 15 2021 On July 1, the Federal Housing Finance Agency (FHFA) released a Policy Statement on its commitment to comprehensive fair lending oversight of Fannie…

CFPB Blogs About Buy Now Pay Later

USA - July 13 2021 On July 6, the CFPB posted a blog titled, “Should you buy now and pay later?” describing how buy now pay later (BNPL) deferred payment options work…

CFPB Issues Summer 2020 Supervisory Highlights

USA - July 7 2021 On June 29, the CFPB released its summer 2021 Supervisory Highlights. The findings of the report, which cover Examinations that generally were…

DFS Settles with Indirect Auto Lenders to Resolve Fair Lending Violations

USA - July 7 2021 On June 29, NYDFS announced that two New York-charted banks engaging in indirect auto lending will pay civil money penalties for violating New York’s…