Alston & Bird has strengthened and expanded its capabilities for advising companies on state and federal consumer finance regulatory compliance issues with the addition of partner Aldys London in the firm’s Washington, D.C. office. Her clients … [Continue reading] about Alston & Bird Adds Consumer Finance Partner Aldys London in Washington, D.C.
California Settlement Offers Reminder that Buy Now Pay Later Participants are Subject to California Financing Law
In August 2022, the California Department of Financial Protection and Innovation (“Department” or “DFPI”) entered into a consent order with a company offering point of sale financing products that the DFPI deemed to be buy now, pay later (“BNPL”) … [Continue reading] about California Settlement Offers Reminder that Buy Now Pay Later Participants are Subject to California Financing Law
GSEs to Require Mortgage Servicers to Obtain and Maintain Fair Lending Data
A&B Abstract: On August 10, 2022, the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (the “GSEs”) will require mortgage servicers to obtain and maintain fair lending data on their loans, beginning March 1, … [Continue reading] about GSEs to Require Mortgage Servicers to Obtain and Maintain Fair Lending Data
NMLS Seeks Comments on Proposed Revisions to Company and Individual Disclosure Questions
A&B Abstract: The Nationwide Multistate Licensing System & Registry (NMLS) Policy Committee is inviting comments on the NMLS Disclosure Questions Proposal. The comment period is now open and runs until August 22. Among other revisions, the … [Continue reading] about NMLS Seeks Comments on Proposed Revisions to Company and Individual Disclosure Questions
Rhode Island Expands Lender Licensing for Retail Installment Contracts, Allows Remote MLO Work, and Makes Other Changes to Financial Institutions Laws
Rhode Island made a number of amendments to financial institutions statutes with the passage of Senate Bill 2794 / House Bill 7781 Sub A. Changes include the scope of licensing requirements applicable to retail installment contracts and the … [Continue reading] about Rhode Island Expands Lender Licensing for Retail Installment Contracts, Allows Remote MLO Work, and Makes Other Changes to Financial Institutions Laws