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Jason’s in-depth experience advising on consumer lending matters both as in-house counsel and outside advisor provides extensive industry knowledge for his financial services clients.

After analyzing public feedback, as well as information gathered from the five providers of Buy Now, Pay Later (BNPL) products, the Consumer Financial Protection Bureau (CFPB) issued a report, making it clear that the CFPB plans to increase regulation of the BNPL industry.

A form of credit that allows a consumer to split a retail

As we previously posted here, in March, Utah enacted its Commercial Financing Registration and Disclosure Act (CFRDA), requiring commercial financing providers to register with the Utah Department of Financial Institutions (DFI). The process requires registering with the Nationwide Multistate Licensing System and Registry (NMLS), providing certain information about the provider, and disclosing information about

  • In its annual General Explanations of the Administration’s Revenue Proposals, the U.S. Department of Treasury proposed clarifications and amendments to the Internal Revenue Code to address on-demand pay arrangements (also known as earned wage access or “EWA” programs).
  • The proposals would confirm, among other things, that EWA programs are not loans.
  • The proposals would also

On April 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released Spanish language translations for certain model and sample forms included in the Prepaid Rule in Regulation E and for certain adverse action model and sample notices included in Regulation B.

The Bureau also used the announcement as an “opportunity to remind financial institutions

Troutman Pepper announced today that a nationally recognized consumer financial services group has joined the firm from Ballard Spahr in Atlanta, New York, Philadelphia, and Salt Lake City. The industry-leading group includes partners Christopher J. Willis, Mark J. Furletti, Jeremy T. Rosenblum, Stefanie H. Jackman, James Kim, Jason M. Cover