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1 week ago | 
jdsupra.com | Jason Cover |Mark J. Furletti |Ethan G. Ostroff
The Consumer Financial Protection Bureau (CFPB or Bureau) announced a significant shift in its enforcement priorities, choosing not to prioritize actions related to Buy Now, Pay Later (BNPL) loans under the Truth in Lending (Regulation Z). This decision aligns with the CFPB’s broader strategic adjustments outlined last month, and discussed here, which emphasize focusing resources on more pressing consumer threats, particularly those affecting servicemen, veterans, and small businesses.
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1 month ago | 
openlegalblogarchive.org | Jason Cover |Mark J. Furletti |Joseph Reilly |Caleb Rosenberg
Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction that is repaid as a percentage of sales or revenue, or according to a fixed payment mechanism that provides for a reconciliation process to adjust payments to an amount that is a percentage of sales or revenue.
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1 month ago | 
jdsupra.com | Jason Cover |Mark J. Furletti |Joseph Reilly
Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction that is repaid as a percentage of sales or revenue, or according to a fixed payment mechanism that provides for a reconciliation process to adjust payments to an amount that is a percentage of sales or revenue.
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2 months ago | 
jdsupra.com | Jason Cover |Stefanie Jackman |Chris Willis
On March 7, the Community Financial Services Association of America (CFSA) and the Consumer Service Alliance of Texas filed a petition for a writ of certiorari with the U.S. Supreme Court seeking to overturn a decision by the U.S. Court of Appeals for the Fifth Circuit.
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2 months ago | 
lexology.com | Jason Cover |Stefanie Jackman |Chris Willis
On March 7, the Community Financial Services Association of America (CFSA) and the Consumer Service Alliance of Texas filed a petition for a writ of certiorari with the U.S. Supreme Court seeking to overturn a decision by the U.S. Court of Appeals for the Fifth Circuit.
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Feb 3, 2025 | 
jdsupra.com | Jason Cover |Mark J. Furletti |Taylor Gess
On January 10, the Alaska Legislature introduced Senate Bill 39 that aims to amend the state’s Small Loan Act. This proposed legislation seeks to implement significant changes, including the introduction of a predominant economic interest test, the repeal of Alaska’s payday loan law, and amending the maximum interest rate that can be charged on loans up to $25,000. Key Provisions of the Bill Predominant Economic Interest Test.
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Jan 27, 2025 | 
insidearm.com | Jason Cover |Missy Meggison
Orchard Park, N.Y. — Orion Capital Solutions, a nationally licensed collection agency based in Orchard Park, NY, has partnered with the Boys and Girls Club to strengthen the foundation of local communities. By investing in programs that empower youth, Orion exemplifies how businesses can create meaningful change while supporting their employees’ values and aspirations. The Boys and Girls Club has a long-standing tradition of providing transformative resources to children and teenagers.
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Jan 23, 2025 | 
jdsupra.com | Keith Barnett |Jason Cover |Mark J. Furletti
As part of a flurry of last minute regulatory activity by the Biden administration’s Consumer Financial Protection Bureau (CFPB or Bureau), on January 15, the CFPB published an advisory opinion in the Federal Register rescinding a previous advisory opinion which the Bureau issued during the first Trump administration in November 2020.
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Jan 23, 2025 | 
insidearm.com | Jason Cover |Mark J. Furletti |Stefanie Jackman |James Kim
As the Consumer Financial Protection Bureau (CFPB or Bureau) anticipates a shift in its leadership with the incoming administration of President Trump, the Bureau has released a report titled “Strengthening State-Level Consumer Protections.” This report appears to be a strategic move by the CFPB to influence state-level consumer protection laws before the anticipated shift in federal regulatory policy, and the Bureau’s recommendations appear to be items that would need to be the subject of...
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Jan 16, 2025 | 
jdsupra.com | Jason Cover |Mark J. Furletti |Stefanie Jackman
As the Consumer Financial Protection Bureau (CFPB or Bureau) anticipates a shift in its leadership with the incoming administration of President Trump, the Bureau has released a report titled “Strengthening State-Level Consumer Protections.” This report appears to be a strategic move by the CFPB to influence state-level consumer protection laws before the anticipated shift in federal regulatory policy, and the Bureau’s recommendations appear to be items that would need to be the subject of...
