This chart shows state interest rate caps for those two types of loans. The exception: the Military Lending Act The Military Lending Act is a federal law that trumps state rules. It requires that loans made to active duty military members or their dependents be capped at 36% APR [0] Fede...
1968: TILA is enacted by federal lawmakers as Title I of the Consumer Credit Protection Act. 1969: TILA, as implemented by Regulation Z, takes effect. 1980: Congress passes the Truth in Lending Simplification and Reform Act to simplify and clarify many TILA provisions. 1988: The Home Equi...
The process for paying out claims after an accident can be important for drivers to understand. It’s not so simple, however, because state laws and insurance regulations that govern this process differ across the U.S. All 50 states use one of two insurance systems—no-fault or at-fault—...
Govern This stage is crucial throughout all the other stages of AI risk management. It should be integrated into the AI system lifecycle by establishing a culture that recognizes the potential risks associated with AI. The Govern step involves outlining and implementing processes and documentation to...
Do federal regulatory changes, UDAAP, fair lending, and data privacy and protection laws keep you up at night? Do you have a process in place to implement these changes immediately within your compliance program? At PerformLine, we have years of experience with regulators and clients in regulate...
MakerDAO is a decentralized platform that allows users to borrow funds in the form of the stablecoin DAI, which is pegged to the value of the US dollar. By using smart contracts, MakerDAO provides users with access to a secure and transparent lending platform that operates without the need for...
So, why do people provide liquidity if there’s risk? Two reasons: the potential to earn passive income through fees and the fact that they’re helping keep the DeFi engine running. Without liquidity providers, there’s no pool. And without the pool, Uniswap can’t function....
At the federal level, AI-focused bills have been introduced in Congress but have not gained significant support or interest. AI regulation does, however, appear to be potentially emerging from the Federal Trade Commission (FTC). In recent years, the FTC issuedtwopublicationsforeshadowing increased ...
Usury is lending money at aninterest ratethat is unreasonably high or higher than therate permitted by law.Usurylaws protect consumers by governing the interest charged on a loan. In the United States, individual states are responsible for setting usury laws. Though this type of financial activity...
The World Bank’s counterpart, the IMF, is structured more like a credit fund.21The differing in the structuring of the two entities and their product offerings allows them to provide different types of financial lending and financing support. Each entity also has several of its own distinct re...