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Jun 11, 2024 | 
mondaq.com | Scott Pearson |Charles Washburn |Eric Knight
Increased regulation of commercial financing shows no signs of
stopping. California SB 1482, which would require
commercial financing providers and brokers to register with the
California Department of Financial Protection and Innovation
(DFPI), recently passed the Senate 39–0 (with one abstention)
and will move on to the Assembly.
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Jun 3, 2024 | 
mondaq.com | Bryan Schneider |Eric Knight |Scott Pearson
To the likely surprise of providers of buy now, pay later
("BNPL") financing, last week the Consumer Financial
Protection Bureau ("CFPB") issued an interpretive rule stating that BNPL products
are actually "credit cards" under the Truth in Lending
Act (TILA) and BNPL providers are "card issuers" and
therefore "creditors" under, and subject to, Regulation
Z.
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Nov 19, 2023 | 
mondaq.com | Scott Pearson |Bryan Schneider |Eric Knight
On October 26, a Texas District Court issued an expanded injunction preventing the CFPB
from implementing and enforcing its small-business data collection rule issued under Section 1071
of the Dodd-Frank Act, so that it now benefits all companies
subject to the rule. The Court's prior injunction, issued on
July 31, applied only to the named plaintiffs in the suit.
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Nov 13, 2023 | 
mondaq.com | Bryan Schneider |Scott Pearson |Mehul Madia
On October 19, the Consumer Financial Protection Bureau (CFPB)
issued its highly anticipated notice of
proposed rulemaking to implement Section 1033 of the Dodd-Frank
Act. The Personal Financial Data Rights Rule would require
depository and non-depository entities, including providers of
payment facilitation services, to make available to consumers and
authorized third parties certain data relating to the
consumers' accounts.
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Oct 2, 2023 | 
law360.co.uk | Scott Pearson |Eric Knight |Charles Washburn Jr.
ADVERTISEMENT Don't want ads? Subscribe or login now. By Scott Pearson, Eric Knight and Charles Washburn Jr. (October 2, 2023, 4:50 PM EDT) -- Regulatory scrutiny on the commercial financing industry is increasing.... A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence.
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Sep 15, 2023 | 
mondaq.com | Scott Pearson |Bryan Schneider |Mehul Madia |Eric Knight
On September 8, 2023, the U.S. District Court for the Eastern
District of Texas issued an opinion and order vacating a March 2022
anti-discrimination update to the UDAAP section of the Consumer
Financial Protection Bureau's ("CFPB" or
"Bureau") Supervision and Examination Manual ("Exam
Manual"), holding that the Bureau exceeded its statutory UDAAP
authority and that the Bureau's funding structure is
unconstitutional.
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Sep 12, 2023 | 
mondaq.com | Bryan Schneider |Scott Pearson |Charles Washburn |Mehul Madia
The Consumer Financial Protection Bureau's (CFPB or Bureau)
Summer 2023 Supervisory Highlights, which discusses key examination
findings between July 2022 and March 2023, underscores the
Bureau's continuing aggressive interpretations of its
authority.
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Aug 31, 2023 | 
educationnext.org | Brandon Brown |Frederick M. Hess |Scott Pearson |Jeremy Chiappetta
Students are returning to school this year on the heels of another summer of sobering headlines about the nation’s lackluster academic recovery. With multiple indicators showing stalled learning recovery and education policy experts sounding alarm bells at Congressional hearings, we must finally treat lagging educational outcomes as a pressing national emergency.
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Jun 14, 2023 | 
mondaq.com | Scott Pearson |Charles Washburn |Eric Knight
U.S. states continue to consider and adopt statutes requiring
TILA-like disclosures in connection with various types of
commercial financing transactions. Most recently, Georgia passed a law, effective January 1, 2024,
requiring financing providers to provide such disclosures,
following the adoption of similar laws recently passed in
California, New York, Utah and Virginia.
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Jun 1, 2023 | 
passengertransport.co.uk | Scott Pearson
The passenger transport sector can operate at Net Zero, regardless of the size of the operator. Newport Transport is showing the way Over the past two years, Newport Transport’s EV fleet has more than tripled in size, growing from the original 14 buses to a total of 44 BY Scott PearsonAt Newport Transport, we want to show what’s possible despite being a medium sized municipal operator and I’m keen to help others do the same.
