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ECOVIS ProventusLaw welcomes to its newest newsletter consumer protection regulation, which is dedicated to everyone who wants to understand the latest trends and developments, get tips from our experts, and [...]

1. Introduction Among the security instruments that have become indispensable elements of commercial life, letters of credit stand out due to their widespread use. However, letters of credit have not [...]

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 16 - 20, 2024. December 16, 2024: The IRS released [...]

On 19 December, the Luxembourg Parliament passed the 2025 budget law (bill n-8444) at first reading. From a tax perspective, the 2025 budget law mainly introduces new temporary tax measures, [...]

On December 16, 2024, Liberal House leader Karina Gould tabled the government's Fall Economic Statement, announcing significant reforms to Canada's Scientific Research and Experimental Development (SR&ED) program. These changes go [...]

On December 12, the Consumer Financial Protection Bureau (CFPB) finalized a rule (Rule) designed to reshape the regulatory framework for overdraft credit provided by very large financial institutions.1 This highly [...]

The U.S. Treasury Department and the Internal Revenue Service ('IRS') published final regulations on December 4, 2024, defining 'energy property' and rules applicable to energy credits (the investment tax credit, [...]

On 29 November 2024, the Australian Parliament passed the long-awaited Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 (Bill). The passing of the Bill means [...]

As we highlight in our recent blog post, we have seen a rise in the use of simple agreements for future equity ('SAFEs') in the private equity market. While SAFEs [...]

One year after the new EU Consumer Credit Directive (Directive 2023/2225) came into force, questions remain: When will it be implemented? What will be regulated? How is the business community [...]

One of the most efficient ways to have the lien removed from title is to 'vacate' the lien. However, vacating the lien does not resolve the underlying dispute between the [...]

Kansas has made significant changes to its Consumer Credit Code (Code) (K.S.A. Chapter 16A) which will take effect January 1, 2025. Finance companies need to understand the impact of these [...]

Over the past two and a half years, the Canadian government has proposed six different major investment tax credits (ITCs) that are aimed at incentivizing the decarbonization of the economy [...]

Following the Autumn Budget, the Government set out in a policy paper how it proposes to reform agricultural property relief ('APR') and business property relief ('BPR') from inheritance tax ('IHT'). [...]

Similar to the federal Fair Debt Collection Practices Act (FDCPA), California's 'Rosenthal Fair Debt Collection Practices Act' (RFDCPA) has historically regulated the manner in which debt collectors interact with borrowers [...]

The Hong Kong Monetary Authority (HKMA) has further enhanced consumer protection by issuing a circular prescribing a 7-day cooling-off period for customers to reconsider credit products. Retail banks (including digital [...]

The National Credit Regulator (NCR) was established under Section 12 of the National Credit Act, Act 34 of 2005 (NCA) to oversee the South African credit industry. It operates with [...]

On 9 October 2024, the Reserve Bank of India (RBI) issued a notification revising the Interest Equalisation Scheme on pre and post shipment rupee export credit to eligible exporters announced [...]

In a judgment with implications far beyond motor finance industry, the Court of Appeal has dealt a blow to lenders in a motor finance test case. On 25 October 2024, [...]

On 30 October 2024, the Government published its highly anticipated Autumn Budget 2024 (the 'Budget'). Among measures promised to 'fix the foundations of the economy' is the Government's commitment to [...]

On September 12, 2024, the Québec Minister of Justice presented Bill 72, An Act to protect consumers against abusive commercial practices and to offer better transparency with respect to prices [...]

I. Appointment of Arbitral Tribunal and Public Policy ('ordre public') Proviso (2012-2022) ArbAct: Section 3 [Form, Terms and Execution of Arbitration Agreement]: The arbitration agreement must be executed (entered into) [...]

On October 22, 2024, the California Department of Financial Protection (DFPI) issued final regulations which, when effective, will classify most EWA programs in the market as consumer loans, and which [...]

Highlights The Chips and Science Act of 2022 (CHIPS Act) added Section 48D to the Internal Revenue Code to incentivize the manufacture of semiconductors and semiconductor manufacturing equipment. The Section [...]

The Canadian government has enacted four new refundable investment tax credits (ITCs) designed to grow Canada's clean economy and allow Canada to remain competitive in attracting investment in clean energy [...]

On October 22, 2024, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued long-awaited regulations implementing the advanced manufacturing investment credit under Sections 48D1 and [...]

As an American, it doesn't matter where you live or work. All your income is taxable by the IRS. This means that, unless you claim certain tax benefits using a [...]

Why Value Leakage Matters When negotiating credit agreements, lenders will focus on how to maximize the prospect of their loan being repaid in full at maturity. If money and/or assets [...]

In this issue. The Office of the Comptroller of the Currency (OCC) issued guidance for managing refinance risk in commercial lending; the Consumer Financial Protection Bureau (CFPB) released its 35th [...]

The employee retention credit (ERC) has been a thorn in the IRS' side for some time. Enacted during the COVID-19 pandemic, Congress originally designed the ERC as a means to [...]

Checking in on what the Consumer Financial Protection Bureau ('CFPB') has been up to for the last month, in case you missed it (and with some commentary): On October 4, [...]

Highlights The U.S. Department of the Treasury and IRS on Sept. 19, 2024, released proposed regulations under Section 30C of the Internal Revenue Code providing important clarity on the changes [...]

A bill co-sponsored by California AG Rob Bonta which prohibits consumers' medical debt from being reported on credit reports was signed into law and will go into effect on January [...]

On September 12, 2024, the National Assembly of Québec introduced Bill 72, which proposes significant amendments to the Consumer Protection Act with the goal of safeguarding consumers against abusive commercial [...]

This year, the California legislature sent a number of affordable housing bills to Governor Gavin Newsom for signature. In September, Governor Newsom signed some of those bills and vetoed others. [...]

On September 18, the CFPB issued a set of Frequently Asked Questions (FAQs) related to Buy Now, Pay Later (BNPL) products.1 These FAQs follow the CFPB's release of the 2024 [...]

Building on existing case law, the Court of Justice of the European Union (CJEU) recently considered the test for when a standalone anti-competitive information exchange will constitute a 'by object' [...]

The IRS's long-awaited recommencement of employee retention credit claim processing is welcome news to qualifying small businesses across the US that have been waiting for the agency to process their [...]

1. INTRODUCTION: The 2024 union budget presented by Finance Minister Nirmala Sitharaman on 23rd July 2024 is an employment-centric budget that has prioritized the creation of fresh employment and skill [...]

On June 5, 2023, the 'Decree Promoting Investment by Taxpayers Engaging in Productive Economic Activities within the Development Poles for the Welfare of the Isthmus of Tehuantepec' (hereinafter the 'Decree') [...]

On September 12, 2024, the Quebec Minister of Justice introduced Bill 72, An Act to protect consumers against abusive commercial practices and to offer better transparency with respect to prices [...]

The Inflation Reduction Act of 2022 (IRA) aims to incentivize companies to implement a number of goals. Among other objectives, goals include building additional infrastructure, manufacturing equipment needed to strengthen [...]

What is credit application fraud? ENS' Forensics team have seen an upsurge in clients who have fallen victim to credit application fraud, a particular type of cybercrime. This type of [...]

> On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued a Proposed Interpretive Rule and Request for Comment (Proposed Rule) addressing credit products in the paycheck advance marketplace, [...]

The IRS began a much-publicized moratorium on processing ERTC claims in September. I am often asked if the claims are now being processed. On June 20, 2024, the IRS issued [...]

On August 7, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report spotlighting four marketing and financing practices relating to solar financing that it claims pose significant consumer risks [...]

Significant recent developments have occurred regarding Employee Retention Tax Credit (ERTC) claims. These include new announcements and actions by the IRS that may impact your business. We have summarized these [...]

On Aug. 15, 2024, the IRS announced the much-anticipated reopening of a second Voluntary Disclosure Program (the 'Second ERC-VDP') to help businesses address incorrect Employee Retention Credit ('ERC') claims as [...]

Last year, we distributed a bulletin that provided an overview of recent developments related to carbon capture and sequestration (CCS) in Ontario, Alberta and federally. A year on, major investments [...]

The U.S. Department of Agriculture (USDA) announced changes to the Farm Service Agency's (FSA) Farm Loan Programs on Aug. 7, 2024. The changes, led by FSA Administrator Zach Ducheneaux, a [...]