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State Budgets Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

New York FY 2024 budget proposes to end unfair overdraft practices

On February 1, the New York governor released the state’s FY 2024 budget proposal, which includes measures for ending certain bank overdraft and insufficient fee practices. ...more

Allen Matkins

Governor Proposes Further DFPI Growth While Cutting DFPI Administered Grants To Nonprofits

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Article IV, Section 12(a) of the California Constitution requires the Governor within the first 10 days of the year to  submit to the Legislature, with an explanatory message, a budget for the ensuing fiscal year.  Last...more

Rivkin Radler LLP

The Deduction of Cannabis Business Expenses Following New York’s 2023 Budget

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The 2023 Budget- Last week, the New York Legislature passed the State’s 2022-2023 Budget. The $220 billion Budget reflects an $8 billion increase over last year’s budget (a more than 3 percent jump). It is also $4 billion...more

Jones Day

California Shelves Proposal to Create Mini-CFPB - Governor Newsom's proposed mini-CFPB has been removed from California's 2020-21...

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On June 11, 2020, California budget negotiators tabled California Governor Gavin Newsom's proposal to create a state version of the federal Consumer Financial Protection Bureau ("mini-CFPB"). As discussed in a previous Jones...more

Ballard Spahr LLP

Update on California bill to revamp Department of Business Oversight

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California Governor Newsom submitted his updated 2020-2021 budget proposal to the state legislature on May 14, 2020. The proposed budget amendments include substantial cuts to compensate for the anticipated impact to state...more

Morgan Lewis

Watch Out for California – State Stepping Up Fintech and Lending Regulatory Enforcement

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A recent legal conference in Washington, DC, highlighted newly proposed and ongoing regulatory changes in California concerning consumer and commercial lending. ...more

WilmerHale

Governor Cuomo Proposes Significant Expansion of Powers of New York Department of Financial Services

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In legislative language accompanying his proposed budget, New York Governor Andrew M. Cuomo proposes to significantly expand the powers of the New York Department of Financial Services (DFS), the state’s banking and insurance...more

Eversheds Sutherland (US) LLP

New York Governor Cuomo’s proposed budget bill bolsters DFS Superintendent’s fining authority

On January 21, New York Governor Andrew Cuomo released his Fiscal Year 2021 executive budget proposal for the State of New York. The budget includes proposed legislative that would increase the authority of the Superintendent...more

Bradley Arant Boult Cummings LLP

California’s Proposed “Mini-CFPB” May Increase Scrutiny of Auto Lenders and Other Industry Participants

Earlier this month, California Gov. Gavin Newsom revealed plans to create a state version of the federal Consumer Financial Protection Bureau (CFPB) as part of the state’s proposed 2020-2021 budget. According to the...more

Seyfarth Shaw LLP

The Week in Weed: January 2020 #4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. The big news in cannabis this week comes from New Mexico.  Legislation introduced last Thursday would legalize...more

Jones Day

California’s Proposal to Create Mini-CFPB - This proposed regulatory change will undoubtedly have a wide-ranging impact on...

Jones Day on

On January 10, 2019, California Governor Gavin Newsom proposed a plan to create a California version of the federal Consumer Financial Protection Bureau ("CFPB") as part of the state's proposed 2020-21 budget. According to...more

Allen Matkins

Governor Proposes To Expand Department Of Business Oversight Authority And Funding

Allen Matkins on

Last week, Governor Gavin Newsom delivered his proposed budget for California's 2020-2021 fiscal year. The Governor is proposing to rename the Department of Business Oversight as the Department of Financial Protection and...more

Maynard Nexsen

NC Legislative Update: October 2019 #4

Maynard Nexsen on

After taking last week off, both chambers returned to Raleigh this week to continue their efforts to wrap up the legislative session. Senate Leader Phil Berger has asserted that the Senate will adjourn on October 31,...more

Jackson Lewis P.C.

Highlights From The New York FY 2020 Budget

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New York legislators passed into law the fiscal year 2020 $175.5-billion budget on April 1, 2019, fully funding state government for the next fiscal year. Among the provisions enacted are many that affect labor and employment...more

Pierce Atwood LLP

Under The Dome: Inside The Maine State House

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Governor LePage Delivers State of the State Address - Governor LePage delivered his final State of the State address to the Legislature on Tuesday, February 13. The speech, which lasted nearly an hour and a half, focused...more

Ballard Spahr LLP

Controversial NY lender and student loan servicer licensing proposals removed from budget bill

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A New York lender licensing proposal that threatened to create new regulatory burdens for financial service providers and to potentially adversely affect credit availability to New York residents and businesses, has been...more

Blake, Cassels & Graydon LLP

2016 Ontario Budget Provisions Affecting Registered Pension Plans and the ORPP

On February 25, 2016, the Ontario government tabled its 2016 budget (Budget), which included a number of provisions affecting registered pension plans and the Ontario Retirement Pension Plan (ORPP). On that same day, the...more

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