Jeremy Sairsingh

Dec 28, 2023 | lexology.com | Jason Cover |Taylor Gess |James Kim |Joseph F. Reilly |Caleb Rosenberg |Jeremy Sairsingh

Late last month, Councilmember Kenyan R. McDuffie introduced B 25-0609, entitled the Protecting Affordable Loans Amendment Act of 2023, that proposes to opt the District of Columbia out of sections 521-523 of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA).

Dec 7, 2023 | lexology.com | Chris Capruso |Jason Cover |Mark J. Furletti |Taylor Gess |James Kim |Ethan G. Ostroff | +4 more

Yesterday, the Office of the Comptroller of the Currency (OCC) issued guidance to banks on managing the risks associated with “buy now, pay later” (BNPL) lending. Specifically, the bulletin addresses BNPL loans that are payable in four or fewer installments and carry no finance charges. The stated aim of the OCC’s guidance is to ensure that these loans are offered in a manner that is safe, sound, and compliant with applicable laws and regulations.

Jul 28, 2023 | lexology.com | Mark J. Furletti |Jeremy T. Rosenblum |Taylor Gess |Joseph F. Reilly |Caleb Rosenberg |Jeremy Sairsingh | +1 more

On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92, which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to take advantage of the usury authority provided by the NILA and also for any person that holds or acquires any rights of ownership, servicing, or other forms of participation in a loan under the NILA.