Topic
Lending
189 published works
Regulatory Oversight
States Join Colorado in Defense of Interest Rate Opt-Out Law
By Troutman Pepper Locke State Attorneys General Team, Nick Gouverneur
On September 20, 13 states and Washington, D.C. joined Colorado in its appeal asking the Tenth Circuit to uphold a state law imposing more restrictive interest rate caps on loans…
Commercial Case Notes
Side Letter Granting Lender Part Ownership of the Borrower Did Not Make the Related Loan Usurious
By John Lundin
On June 17, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Manna Capital Solutions LLC v. W & D Consultants Corp., 2024 NY Slip Op.…
Joe Raczynski | Technologist
Tech Snippets Today – Mauricio Di Bartolomeo – Co-Founder & CSO at Ledn with Joseph Raczynski
Did you know that if you are a holder of digital assets, you can take a loan out against those tokens? Ledn is a company that offers this service. I…
Wills, Trusts & Estates Prof Blog
How to Avoid Pitfalls When Loaning Money to a Family Member
Loaning money to family members is a generous but potentially risky move. To avoid common pitfalls, it’s crucial to formalize the arrangement with a written agreement detailing the loan amount,…
Consumer Finance Monitor
South Carolina Enacts Earned Wage Access Legislation Requiring Registration, Exempting the Product from Lending Laws
By John A. Kimble, Ballard CFS Group
On May 21, 2024, South Carolina Governor Henry McMaster signed into law the Earned Wage Access Services Act (the “Act”), which will require earned wage access (“EWA”) providers to register…
LenderLaw Watch
Minnesota AG Sues Solar Lending Companies Over Hidden Fees
On March 8, 2024, the Minnesota Attorney General announced that it had filed a lawsuit against four solar companies for allegedly violating Minnesota Prevention of the Consumer Fraud Act (“MCFA”), the Uniform Deceptive…
Milikowsky Tax Law Blog
Tips to Appeal SBA PPP-2 Loan Denials
If your SBA PPP-2 loan forgiveness request has been denied, it’s crucial to be well-prepared for the appeal process. In this blog, we’re providing essential tips to help guide you…
Consumer Financial Services Law Monitor
FTC and Wisconsin DOJ Settle with Auto Group over Alleged Illegal Add-Ons and Discrimination Against American Indian Consumers
By Chris Capurso, Brooke Conkle, Lori Sommerfield, Chris Willis, Alan D. Wingfield
On October 24, the Federal Trade Commission (FTC) and the Wisconsin Department of Justice announced a settlement with Wisconsin auto dealer group Rhinelander Auto Center, Inc. (Rhinelander), its current and…
Consumer Finance Monitor
Senate votes to override CFPB small business lending rule
By John L. Culhane, Jr., Richard J. Andreano, Jr., Michael Gordon, Alan S. Kaplinsky
Yesterday, by a vote of 53-44, the Senate voted to approve S.J. 32, the resolution introduced under the Congressional Review Act (CRA) to override the CFPB’s final Section 1071 small business…
Inside Class Actions
Michigan Supreme Court Refuses to Enforce “Usury Savings Clause”
By Andrew Soukup, Ashley Simonsen, Valerie Hletko
In a decision that will likely have ramifications for lenders and borrowers in the state, the Michigan Supreme Court recently issued a decision clarifying that lenders cannot rely on a…