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Mayer Brown | USA | 5 Jan 2023
CFPB Preliminarily Determines State Commercial Financing Disclosure Laws Not Preempted by Truth in Lending Act
Small business lenders hoping for federal intervention will be disappointed to learn that the Consumer Financial Protection Bureau (CFPB) has reached…
Sheppard Mullin Richter & Hampton LLP | USA | 5 Aug 2022
4th Circuit: Borrower Must Return Loan Proceeds After Rescission Despite Lender’s Failure to Meet TILA Requirements
Recently, the United States Court of Appeals for the 4th Circuit held that a mortgage servicer’s failure to provide a required disclosure informing…
Maurice Wutscher LLP | USA | 9 Jun 2022
Illinois App. Court (3rd Dist) Rejects FCRA ‘Punitive Damages’ Claim Due to Insufficient Supporting Allegations
The Appellate Court of Illinois, Third District, recently reversed a trial court’s order dismissing a debtor’s federal Fair Credit Reporting Act…
Sheppard Mullin Richter & Hampton LLP | USA | 12 Oct 2021
CFPB Opts Not to Take Action Against Banking App
Ahead of an upcoming merger between a digital banking platform and a special purpose acquisition company, both parties disclosed in a regulatory…
Buckley LLP | USA | 12 Oct 2021
CFPB issue semi-annual report to Congress
On October 8, the CFPB issued its semi-annual report to Congress covering the Bureau’s work from October 1, 2020 to March 31, 2021. The report, which…
McGuireWoods LLP | USA | 13 Sep 2021
Income Share Agreements - Risks, Rewards, and Regulators
An Income Share Agreement (ISA) is a contract in which a lender gives a student money for education, and in return, the student promises to pay the…
Greenberg Traurig LLP | USA | 9 Nov 2020
Sixth Circuit Rules Lenders Cannot Rely on Borrowers to Satisfy ‘Ability to Repay’ Rule Under TILA
From late 2007 through much of 2009, the United States endured the "Great Recession" as stocks plummeted, markets froze, and companies crumbled. The…
Thompson Hine LLP | USA | 20 Apr 2020
Ninth Circuit Gives Interesting Definition of “Consumer Credit” Under TILA and RESPA
Traditionally, the protections afforded by consumer protection statutes, such as the Truth in Lending Act (TILA), Real Estate Settlement Procedures…
Hogan Lovells | European Union, United Kingdom, USA | 21 Feb 2020
Summary of key U.S. and EU regulatory developments relating to securitization transactions
Numerous regulatory developments were enacted Or proposed in the United States and the European Union in response to the financial crisis…
Maurice Wutscher LLP | USA | 18 Feb 2020
9th Cir. Affirms Dismissal of TILA Claims as Barred by FIRREA
The U.S. Court of Appeals for the Ninth Circuit recently affirmed the dismissal of a consumer’s Truth in Lending Act (TILA) claim for lack of subject…
