Lending Regulation Security Virginia 
CFPB Monitor
JUNE 15, 2022
The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .
CFPB Monitor
NOVEMBER 21, 2018
As discussed below, the court’s order is a default judgment in favor of the Virginia AG. Although the AG’s complaint alleged that the interest rates charged on the transactions exceeded Virginia’s usury limits, it did not charge the defendants with violating the state’s usury laws.
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PYMNTS
MAY 7, 2018
Bitcoin may be the marquee name in cryptocurrencies, but regulation may loom for its digital dollar brethren. Recent inquiries from regulators in the federal securities and commodities realms have centered on Ethereum. At least that’s the sentiment of one of its creators – in particular, its namesake Barney Frank, former Rep.
Independent Banker
DECEMBER 13, 2015
New Military Lending Act regulations kick in next fall. Following a three-year study on predatory lending, the U.S. Department of Defense has now issued the final rule to implement the Military Lending Act. Transactions not covered by Regulation Z are excluded from coverage under the rule. By Mary Thorson Wright.
CFPB Monitor
NOVEMBER 7, 2016
The CFPB announced that it filed a lawsuit in a Virginia federal district court against B&B Pawnbrokers, Inc., for alleged violations of the Truth in Lending Act and the Consumer Financial Protection Act in connection with closed-end consumer loans made by the company. ”). (For The CFPB cites to 12 U.S.C.
Independent Banker
NOVEMBER 25, 2015
Meanwhile new competitors regularly emerge, including person-to-person facilitators such as digital wallet provider Venmo, crowd-funding loan provider Lending Club and real-time cryptocurrency settlement company Ripple. Kelly Pike is a freelance writer in Virginia. Siphoning customers.
CFPB Monitor
JUNE 3, 2016
Specifically, the RFI mentions installment loans and open-end credit lines with durations exceeding 45 days with no vehicle title security or account access (“leveraged payment mechanism” features) as products falling outside the scope of the proposed rule. The comment period runs through October 14, 2016.
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