On December 12, 2025, the Wisconsin legislature introduced a bipartisan measure (SB 759) that proposes significant amendments to Chapter 138 (Money and Rates of Interest) of the Wisconsin Statutes. SB 759 would implement a 36% annual percentage rate (APR) cap on nonbank consumer loans, codify “true…
On January 20, 2026, the United States Supreme Court issued its unanimous 9-0 opinion written by Justice Alito with a concurrence by Justice Sotomayor in Coney Island Auto Parts Unlimited, Inc. v. Burton and addressed whether vacating a void judgment has a time limit. Prior to the decision, there…
The Indiana Consumer Data Protection Act (INCDPA), effective January 1, 2026, introduces new requirements for businesses that handle personal data of Indiana residents. If your company operates in Indiana or targets Indiana consumers, now is the time to ensure compliance with the INCDPA.
On November 10, 2025, the Tenth Circuit Court of Appeals upheld Colorado’s legislative opt-out from the federal interest rate exportation provisions of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”). This decision marks a significant shift in the regulatory…
The Consumer Financial Protection Bureau (“CFPB”) has proposed changes to the small business lending data collection requirements under section 1071 of the Equal Credit Opportunity Act (“ECOA”). Section 1071 requires financial institutions to collect and report to the CFPB certain data on…
The Consumer Financial Protection Bureau (“CFPB”) proposed sweeping changes to Regulation B, the implementing regulation of the Equal Credit Opportunity Act (“ECOA”), which is expected to ease the regulatory compliance burden of creditors as well as shakeup the landscape of Special Purpose Credit…
Since its creation, the Consumer Financial Protection Bureau’s (“CFPB” or the “Bureau”) funding mechanism has been under attack. To date, these attacks have been unsuccessful, but the latest challenge by the Bureau itself may finally succeed, or at the very least temporarily support the Bureau’s…
Flagstar Bank expects to save $15 million annually by shedding its holding company—a trend that started about eight years ago. “It really got people thinking, ‘Do we really need a holding company today?,’” says Keaton Miller in this discussion about the benefits of holding companies. Keaton brings…
This update supplements our prior client alert, “New Reporting and Deduction Rules for Vehicle Loans Under the One Big Beautiful Bill Act” issued October 16, 2025 and highlights the IRS ’s transitional guidance issued in Notice 2025-57, that provides penalty relief and simplified reporting…
Background
On July 4, 2025, President Donald J. Trump signed into law the One Big Beautiful Bill Act (“OB3”). Among its many provisions, OB3 introduces a new, temporary tax deduction for passenger-vehicle loan interest1 and imposes corresponding reporting requirements on lenders, including…
President Donald Trump caught the attention of many recently with the following Truth Social post:
Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to Report on a “Six (6) Month Basis.” This will save…
Brokered deposits occupy a unique place in bank funding: widely used, strategically valuable, and nevertheless scrutinized. Banks often rely on them to supplement local deposit bases, particularly when core deposits slow or fail to keep pace with asset growth. Brokered deposits also carry the…
