category california Financial services Related Topics 
Troutman Sanders
AUGUST 7, 2023
These new Standard Operating Procedures (SOPs) will include updated origination policies and procedures, lender participation requirements, and 7(a) loan servicing and liquidation requirements. Banks reported that lending standards are currently on the tighter end of the range for all loan categories. For more information, click here.
Troutman Sanders
OCTOBER 4, 2022
8985 has been referred to the House Committee on Financial Services for its consideration. On September 22, Senate Banking Committee and House Financial Services Committee members, led by Senator Cynthia Lummis (R-WY), filed an amicus brief in support of Custodia Bank, the first U.S. For more information, click here.
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Troutman Sanders
JANUARY 23, 2023
State Activities: On January 20, California Attorney General Rob Bonta submitted a comment letter, applauding the CFPB for its preliminary determination that the state’s Commercial Financing Disclosure Law (CFDL) is not preempted by the federal Truth in Lending Act (TILA). For more information about the WEF’s DAO toolkit, click here.
Troutman Sanders
OCTOBER 26, 2020
to extend protection of COVID-19 payments from garnishment and amend the required notice to judgment debtors to inform them of an additional category of exempt funds described as emergency relief payments. On October 16, the Virginia General Assembly voted to amend VA Code § 8.01-512.4 election on their platforms.”
Troutman Sanders
MARCH 8, 2021
Senator Kevin Cramer intends to introduce legislation to codify a rule from the Office of the Comptroller of the Currency, which will require banks to conduct a risk assessment of individual customers, rather than make broad-based decisions affecting whole categories or classes of customers when provisioning access to services, capital, and credit.
Troutman Sanders
DECEMBER 19, 2023
For example, the whitepaper discusses how the quality of a stablecoin issuer’s reserve asset composition, and its ability to meet redemption requests, will determine whether a particular stablecoin meets the conditions to be included in the Group 1b category and be subjected to existing bank capital requirements. On December 13, the U.S.
Collection Industry News
MARCH 28, 2022
As of the end of 2021, the DFPI had three pending regulation packages pursuant to the CCFPL: 1) complaint procedures, 2) commercial financing UDAAP, and 3) phase one registration categories. Proposed registration includes debt settlement services, student debt relief services, postsecondary education financing, and wage-based advances.
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