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Jan 17, 2025 | 
mondaq.com | Joy N Tsai |Eric T. Mitzenmacher
Coming off a period of rapid growth, the residential solarfinancing industry has begun to face increased pressures fromaggressive compliance positions taken by regulators and consumeradvocacy organizations. Such parties have levied criticismregarding issues such as dealer fee structures, marketingpractices, and alleged consumer misunderstanding about loan termsand tax credits.
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Jan 16, 2025 | 
mondaq.com | Francis L. Doorley |Steven A. Kaplan |Kristie D. Kully |Joy N Tsai
On December 17, 2024, the Consumer Financial Protection Bureau(CFPB or Bureau) issued its final rule (Final Rule) applying certainresidential mortgage requirements to Property Assessed Clean Energy(PACE) financing. The CFPB issued the Final Rule in response to theEconomic Growth, Regulatory Relief, and Consumer Protection Act(EGRRCPA), which required the CFPB to issue regulations applyingthe Truth in Lending Act's (TILA) ability to repay and civilliability provisions to PACE financing.
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Jan 15, 2025 | 
jdsupra.com | Eric T. Mitzenmacher |Joy N Tsai
At A GlanceComing off a period of rapid growth, the residential solar financing industry has begun to face increased pressures from aggressive compliance positions taken by regulators and consumer advocacy organizations. Such parties have levied criticism regarding issues such as dealer fee structures, marketing practices, and alleged consumer misunderstanding about loan terms and tax credits.
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Apr 17, 2024 | 
mondaq.com | Eric T. Mitzenmacher |Jan Stewart |Joy N Tsai
On March 5, the Consumer Financial Protection Bureau issued a
Final Rule that would significantly restrict late fees that
consumer credit card issuers may charge to a mere
$8—representing approximately a 75% reduction from current
levels. Within two days, the Final Rule faced a challenge in the
Northern District of Texas by a coalition of trade groups including
the United States Chamber of Commerce, the American Bankers
Association, and the Consumer Bankers Association.
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Apr 12, 2024 | 
jdsupra.com | Eric T. Mitzenmacher |Jan Stewart |Joy N Tsai
On March 5, the Consumer Financial Protection Bureau issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge to a mere $8—representing approximately a 75% reduction from current levels. Within two days, the Final Rule faced a challenge in the Northern District of Texas by a coalition of trade groups including the United States Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association.
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Mar 18, 2024 | 
lexology.com | Eric T. Mitzenmacher |Steven M. Kaplan |Jan Stewart |Jeffrey Taft |Joy N Tsai
On March 5, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge from $30 or $41, in most cases, to a mere $8. As finalized, the rulemaking largely aligns with the Bureau’s Proposed Rule on the same subject matter issued February 1, 2023, with certain differences described below.
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Sep 28, 2023 | 
einpresswire.com | Joy N Tsai
ChinatownVegas.com marks one year of 'This Week in Chinatown,' covering diverse news, events, and insight LAS VEGAS, NEVADA, UNITED STATES, September 28, 2023 / EINPresswire.com/ -- ChinatownVegas.com, a trusted source of information about Las Vegas's Chinatown for over a decade, is celebrating two major milestones this month: its 10th anniversary and the one-year anniversary of its popular weekly column, "This Week in Chinatown." Since its launch in 2013, ChinatownVegas.com has become a...
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Jul 5, 2023 | 
mondaq.com | Krista Cooley |Francis L. Doorley |Joy N Tsai
On June 16, 2023, Nevada Governor Joe Lombardo approved Senate Bill 276, completing its "spring
cleaning" to clarify and modernize its existing Collection
Agencies Act. We previously discussed the proposed changes to
Nevada's Collection Agencies Act in our April edition of Licensing Link. In this
article, we summarize the changes enacted by the final version of
Senate Bill 276.
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May 25, 2023 | 
mondaq.com | Francis L. Doorley |Joy N Tsai |Steven M. Kaplan
On May 1, 2023, the Consumer Financial Protection Bureau ("CFPB" or "Bureau") issued a proposed rule that would require companies offering Property Assessed Clean Energy ("PACE") loans to consider a consumer's ability to repay as well as provide consumer disclosures on the cost of credit similar to those used in connection with residential mortgage loans.1 If the Bureau adopts its proposed rule, PACE loans may be subject to regulation akin to a traditional closed-end residential mortgage loan...
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May 15, 2023 | 
lexology.com | Francis L. Doorley |Joy N Tsai |Steven M. Kaplan
On May 1, 2023, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a proposed rule that would require companies offering Property Assessed Clean Energy (“PACE”) loans to consider a consumer’s ability to repay as well as provide consumer disclosures on the cost of credit similar to those used in connection with residential mortgage loans.1 If the Bureau adopts its proposed rule, PACE loans may be subject to regulation akin to a traditional closed-end residential mortgage loan...
