The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.
Several congressional members urged Treasury Secretary Steven Mnuchin to address liquidity challenges facing mortgage servicers in order to prevent an "impending crisis" within the mortgage servicing sector.
Cadwalader attorneys reviewed a Colorado case concerning marketplace lending in which certain securitization trusts that had acquired the Defendant's loans were charged for violations of the state's Uniform Consumer Credit Code.
Cadwalader attorneys reviewed a recent court filing concerning the ongoing challenge to the "bank origination model" (i.e., when lenders use arrangements with unaffiliated banks to originate their loans).
The Consumer Financial Protection Bureau will reconsider the "Payday Lending" rule. Until then, the Bureau will allow lenders to submit applications to waive the first registration compliance deadline.
An FDIC Credit and Consumer Products Survey suggests that risk is increasing in the industry, "as reflected by more frequent reports of credit concentrations, increases in potentially volatile funding sources, and more out-of-area lending."
A bipartisan group of congressional representatives introduced a resolution to overturn the Consumer Financial Protection Bureau's "Payday, Vehicle Title, and Certain High-Cost Installment Loans" rule.