Category: Finance

July 10, 2024

On July 1, amendments to Florida’s Consumer Finance Act took effect. Among other things, the amendments raise the maximum tiered interest rates on consumer finance loans, increase the grace period before late fees can be imposed from 10 to 12 days, require […]

June 27, 2024

On June 6, New York Attorney General (AG) Letitia James filed suit against NovaTech Advisors, LLC, AWS Mining Pty Ltd., and several other entities, alleging the defendants orchestrated two consecutive, fraudulent cryptocurrency schemes that largely targeted Haitian nationals. Defendants Cynthia […]

June 6, 2024

If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each individual can pass […]

May 13, 2024

California’s Department of Justice recently confirmed that California’s new law requiring businesses to disclose “junk fees” as part of the advertised price extends to California restaurants, delivering another challenge to a hospitality industry already struggling to support higher wages and […]

April 30, 2024

Imputed income is the value of non-cash compensation that must be included as part of an employee’s taxable income. It’s crucial for small business owners to understand what imputed income is, as it directly affects payroll and tax reporting. By […]

April 25, 2024

Knowing how to invest in commercial real estate offers a lucrative opportunity for those looking to expand their investment portfolio beyond traditional stocks and bonds or residential real estate. Successful commercial real estate investing for beginners requires a deep understanding […]

March 28, 2024

A federal court in Chicago recently granted a preliminary injunction enjoining the Illinois Department of Labor from enforcing one of several amendments made in August 2023 to the Illinois Day Labor and Temporary Labor Services Act (the “Act”). The amendments […]

March 15, 2024

On 15 March 2024, the Council of the EU published the updated text of the proposed Regulation amending the Single Euro Payments Area Regulation, the Cross-Border Payments Regulation, the Settlement Finality Directive and the Second Payment Services Directive as regards […]

March 4, 2024

After targeting credit card late fees in its proposed rule, the CFPB has set its sights on further attacking credit card pricing through interest rates. The CFPB published a blog late last month stating that credit card interest rate margins […]

February 20, 2024

Employers with Massachusetts-based employees know that the Massachusetts Wage Act (the “Wage Act”), with its strict liability and automatic treble damages and attorneys’ fees, is a powerful and exacting statute with which they must comply. Powerful as it may be […]

February 19, 2024

The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority under the Dodd-Frank Act […]

February 9, 2024

On February 1, 2024, the California Civil Rights Department (CRD), the agency responsible for administering California’s pay data collection, issued updated guidance for the 2023 California pay data reports that are due May 8, 2024. The new guidance largely maintains […]

February 5, 2024

Family members who enter into a private business together are taking on double risk. They face the same types of challenges that all owners and investors face in operating/investing in a business, but they are also exposed to the risk […]

January 19, 2024

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured […]

December 5, 2023

Unlike “general” personal jurisdiction, which allows a court to hear all claims against a defendant as long as that defendant is “at home” in the state, “specific” jurisdiction applies to defendants with less intimate ties to the forum state but […]

November 9, 2023

On October 31, 2023, the Department of Labor (“DOL”) issued a much-anticipated proposal to amend its 1975 “investment advice fiduciary” regulation, which defines when a person who provides investment advice for a fee or other compensation to a retirement plan […]

October 24, 2023

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited proposed rule regulating “Personal Financial Data Rights” (the proposed rule). The proposed rule implements Section 1033 of the Dodd-Frank Act, which provides consumers the right to access […]

October 11, 2023

This week, the Federal Trade Commission (FTC) released a Proposed Rule, “Rule on Unfair or Deceptive Fees.” The Proposed Rule comes after the FTC solicited comments through its Advance Notice of Proposed Rulemaking in November 2022. The Proposed Rule would […]

September 19, 2023

As our economy enters a period of financial stress, consumers are leaning toward options that provide flexibility in purchases. Larger-priced items become a deterrent as families and businesses struggle to make ends meet. We all need financial relief while still […]

September 14, 2023

When you think of long-term wealth creation, it’s hard to overlook passive income. Thinking of personal finance, passive income promises a steady financial inflow even when you aren’t working anymore. Some sources of passive income even promise the dream of […]