News & Analysis as of

Consumer Financial Protection Bureau (CFPB) New Legislation

Sheppard Mullin Richter & Hampton LLP

New Hampshire Updates Motor Vehicle Retail Installment Act: What Lenders Need to Know

On August 2, New Hampshire passed House Bill 1243 (the “Bill”), which substantially amends its Motor Vehicle Retail Installment Sales Act (the “Act”). The Bill is effective as of August 2....more

Sheppard Mullin Richter & Hampton LLP

Kansas Enacts Earned Wages Access Law

On April 19, less than a month after Wisconsin’s enacted legislation, Kansas has followed suited by enacting comprehensive earned wages access legislation. Kansas’ law is set to take effect immediately upon publication....more

Sheppard Mullin Richter & Hampton LLP

Kansas Introduces New Commercial Financing Disclosure Law

On April 17, the Kansas Legislature signed SB 345, to become the most recent state to enact disclosure requirements for small business lenders. The law’s requirements apply to “providers” which are defined as persons who...more

Goodwin

2023 Year in Review: Fintech

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Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more

Ballard Spahr LLP

New York enacts new requirements for subscription auto-renewals and credit card surcharge pricing

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On December 13, 2023, New York Governor Hochul signed two laws, which aim to protect consumers from (1) unwanted subscriptions by requiring notice to consumers for upcoming automatic renewals with clear instructions for...more

Troutman Pepper

New York Bans Reporting of Medical Debt Effective Immediately

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On December 13, New York Governor Kathy Hochul signed into law S4907A, which prohibits hospitals, medical providers, or ambulance services from providing negative information about medical debt to consumer reporting agencies...more

Hudson Cook, LLP

New York Moves to Vest DFS With Control Over Certain Deposit Charges

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Over the past year, there have been numerous efforts by federal regulators - in particular the Consumer Financial Protection Bureau - to rein in "junk fees." The CFPB defines a "junk fee" to be an unnecessary and unavoidable...more

Sheppard Mullin Richter & Hampton LLP

CFPB, FTC, California Make Significant Moves on “Junk Fees”

A number of state and federal regulators, bolstered by messaging from the Biden administration, have embarked on a concerted campaign to address so-called “junk fees.” • CFPB – On Oct. 11, the CFPB issued an...more

Venable LLP

FTC Releases Proposed Rule Targeting “Junk” Fees

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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...more

BCLP

A Survey of the US AI Regulatory Landscape

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As companies increasingly integrate AI into their products, services, processes, and decision-making, they need to do so in ways that comply with the different laws that have been passed and proposed to regulate the use of AI...more

Sheppard Mullin Richter & Hampton LLP

Nevada EWA Legislation Creates Novel Regulatory Framework

In June, the Nevada governor signed SB 290 into law, making Nevada the first state to enact legislation creating a comprehensive statutory framework that specifically defines and regulates the provision of earned wage access...more

Ballard Spahr LLP

Nevada passes law to regulate earned wage access providers

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On June 13, Nevada’s governor signed into law Senate Bill 290 creating the nation’s first statutory framework for earned wage access (EWA) providers operating in the state.  The law appoints the state’s Commissioner of...more

Venable LLP

Is Your New Year’s Resolution to Comply with Automatic Renewal Laws? If So, Look No Further

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The law surrounding negative option and continuity programs continues to evolve rapidly. Feeling a bit overwhelmed with the latest developments? Below is what you need to know in light of new laws, new enforcement actions,...more

Venable LLP

Protecting Your Points: New York’s Credit Card Reward and Loyalty Program Law Is Set to Take Effect

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Just in time for the holiday shopping season, New York Senate Bill No. S133B takes effect on December 10, 2022. Last year, Governor Kathy Hochul signed the bill, which amends New York’s General Business Law to give consumers...more

Brownstein Hyatt Farber Schreck

Government Focus on Medical Debt and Credit Reporting Could Impact Various Industries

White House Activity Surrounding Medical Debt   - On April 11, 2022, the White House announced plans in line with a recent government focus on medical debt and credit reporting that could impact medical providers, the...more

ArentFox Schiff

Privacy Update: California Signs New CCPA and Privacy Related Bills into Law

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California Signs New CCPA and Privacy Related Bills into Law - California’s Governor recently signed into law three new bills impacting CCPA and privacy in California, including: AB 335, which exempts from the CCPA and...more

Sheppard Mullin Richter & Hampton LLP

Immediate Enactment Of Juneteenth As A Federal Holiday Will Have Significant Impact On Mortgage Lenders And Other Consumer Lenders

On June 17, 2021, President Biden signed Senate Bill 475 into law, making “Juneteenth” a federal holiday. Because June 19th falls on a Saturday this year, the day will be observed by federal government offices on June 18,...more

Perkins Coie

Blockchain Week in Review - January 2021

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Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

Perkins Coie

Fintech Week in Review - January 2021 #3

Perkins Coie on

Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

Miles & Stockbridge P.C.

California Moves to Outdo the Consumer Financial Protection Bureau

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The new California law discussed in this Legislative Alert does not have the earth-shattering significance of Trump versus Biden, or even Godzilla versus Mothra, but tremors have originated on the Pacific coast and are likely...more

Ballard Spahr LLP

CFPB and Utah AG announce joint office hours in Salt Lake City as part of ACFIN

Ballard Spahr LLP on

The CFPB and Utah AG’s Office have announced that they will hold the first joint office hours as part of the American Consumer Financial Innovation Network (ACFIN).  The joint office hours will be held on January 30, 2020 in...more

Ballard Spahr LLP

Utah’s new regulatory sandbox

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Utah Governor Gary Herbert signed H.B. 378, Regulatory Sandbox, into law on March 25, 2019.  This bill created the nation’s third regulatory sandbox program for fintechs, after Arizona, which enacted sandbox legislation in...more

Fisher Phillips

The Freeze Is On: Employers Must Immediately Update Background Check Forms

Fisher Phillips on

There is a little-known provision from a new federal law that will most likely impact your hiring practices and your standard hiring documents—and it kicked in last Friday. As of September 21, all employers must update their...more

Holland & Knight LLP

Regulatory Relief Act Benefits Community and Regional Banks

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• The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), which engendered substantial bipartisan support and was recently signed into law by President Donald Trump, amends parts of the Dodd-Frank Wall...more

Akin Gump Strauss Hauer & Feld LLP

Trump Administration: 2017 Recap and 2018 Outlook

On January 20, 2017, businessman Donald J. Trump was sworn in as the 45th President of the United States following a contentious and unconventional 2016 presidential election. Republicans also successfully maintained control...more

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