Thought Leadership

Carleton's General Counsel & VP of Compliance, Sarah Milovich, discusses TILA, the complexities of APR calculations, & its impact on the lending industry.

All-In APRs have been a hot topic throughout the consumer lending industry resulting in more states evolving in how they regulate interest.

In honor of both Groundhog’s Day and the mysterious Leap Day, we wanted to discuss the complications Leap Day poses on consumer loan calculations.

When laws are announced, they can affect the consumer credit industry. Learn how mistakenly tying a state’s rate caps to a TILA APR can have ramifications.

How does leap year affect lending? There are definite ramifications for a year which is 365 days, 5 hours, 48 minutes, and 46 seconds long.

Part 2 of Simple Interest Isn't Simple addresses another complication—the fact that there can be multiple “right” payments.

“Simple interest” is far from simple—resulting in unexpected complications and misunderstandings in consumer lending. Prior to the digital lending age, many consumer credit disclosures and calculations were performed in a pre-computed environment. In Part 1 of this 2 - part series, we explore the differences between a pre-computed consumer credit contract and a simple interest computation relevant to both indirect retail installment sales and direct loan disclosures.

Lenders Aiming to Serve Their Customers Using Semi-Monthly Payment Products May Encounter Implementation Challenges. Regulations provide general guidance (not specifics) regarding calculations…