On October 27, 2025, amendments to Delaware’s Medical Debt Protection Act took effect, establishing a total ban on the inclusion of medical debt in consumer credit reports. The amendments, enacted through Senate Substitute 1...more
On October 30, the California DFPI announced a consent order against a Nevada-based crypto kiosk operator for alleged violations of the Digital Financial Assets Law and the California Consumer Financial Protection Law. The...more
On October 29, the U.S. District Court for the Eastern District of Kentucky granted a preliminary injunction prohibiting the Consumer Financial Protection Bureau from enforcing its Personal Financial Data Rights Rule, also...more
On October 15, the Oklahoma State Banking Department issued a memo detailing new licensing and compliance obligations for digital kiosk operators. The memo details the requirements under Senate Bill 1083, enacted in May under...more
On November 3, the U.S. District Court for the Northern District of West Virginia granted class certification certified a statewide class of borrowers challenging a credit union’s alleged assessment of unauthorized...more
On October 24, 2025, the Massachusetts Division of Banks (DOB) finalized a suite of regulatory amendments implementing the Massachusetts Money Transmission Act. The final regulations, 209 Mass. Code Regs. §§ 44.00, 45.00,...more
On October 21, the NYDFS issued new cybersecurity guidance addressing the growing risks associated with regulated entities’ reliance on third-party service providers (TPSPs). The guidance clarifies compliance obligations...more
On October 17, 2025, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with a licensed consumer lender, alleging violations of the Fair Access to Credit Act, which amended the...more
On October 29, the CFPB rescinded two related rulemakings that would have created public registries for nonbank financial companies. The Bureau withdrew both the Registry of Nonbank Covered Persons Subject to Certain Agency...more
On October 16, Federal Reserve Governor Michael Barr delivered remarks highlighting the significant implementation gaps regulators must bridge under the GENIUS Act, the newly enacted federal framework for payment stablecoins....more
On October 28, the CFPB issued an interpretive rule under the Fair Credit Reporting Act (FCRA) declaring that federal law generally preempts state laws governing the content of consumer credit reports. The Bureau’s action,...more
On October 16, the OCC announced a formal agreement with a national bank in Florida for alleged unsafe or unsound practices related to board oversight, corporate governance, strategic and capital planning, and compliance with...more
10/27/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
BSA/AML ,
Corporate Governance ,
Due Diligence ,
Enforcement Actions ,
Financial Services Industry ,
OCC ,
Regulatory Oversight ,
Suspicious Activity Reports (SARs)
On October 21, 2025, the National Credit Union Administration (NCUA) announced a proposed rule to formally remove “reputation risk” from its supervisory framework under the Federal Credit Union Act. The proposal would amend...more
On October 7, the U.S. District Court for the Northern District of California denied a fintech company’s motion to compel arbitration in a putative class action. The plaintiffs, both servicemembers, allege that the company’s...more
On October 1, 2025, Nevada’s Senate Bill 437 took effect, modernizing Nevada’s Installment Loan and Finance Act to reflect the growth of online consumer lending and “buy now, pay later” (BNPL) products. The new law authorizes...more
10/17/2025
/ Buy Now Pay Later (BNPL) ,
Consumer Lenders ,
Consumer Protection Laws ,
Dispute Resolution ,
Internet Lenders ,
Jurisdiction ,
Licensing Rules ,
Loans ,
New Legislation ,
Regulatory Reform ,
State and Local Government
On October 14, the Maryland Office of Financial Regulation (OFR) issued regulatory guidance explaining three new state laws governing the collection and reporting of medical debt. The guidance clarifies how House Bills 428,...more
On October 3, California Governor Gavin Newsom signed Senate Bill 446, which strengthens California’s existing data-breach disclosure requirements. The law requires businesses and individuals that conduct business in the...more
On September 26, 2025, financial regulators in Hawaii, Idaho, Oregon, and Texas entered into a multistate Settlement Agreement and Consent Order with a mortgage company to resolve allegations of unlicensed activity,...more
On October 6, the DFPI issued a Desist and Refrain Order against a digital-asset ATM operator for alleged violations of the California Digital Financial Assets Law (DFAL) and the California Consumer Financial Protection Law...more
On September 24, the Connecticut Department of Banking entered a consent order with a lender that offered advances based on anticipated personal-injury recoveries. The Department alleged that the company’s products...more
On October 2, The CFPB finalized a rule extending the compliance deadlines for its 2023 Small Business Lending Data Collection Rule under the Equal Credit Opportunity Act (ECOA) and Regulation B. The final rule confirms the...more
On September 26, Arizona Attorney General Kris Mayes announced that the new Cryptocurrency Kiosk License Fraud Prevention Law took effect, establishing new safeguards for consumers using cryptocurrency ATMs. The law, enacted...more
10/10/2025
/ Anti-Money Laundering ,
Arizona ,
Consumer Protection Laws ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Fraud ,
Money Transmitter ,
New Legislation ,
Regulatory Requirements ,
State Attorneys General
On September 30, the FTC and the DOJ announced a settlement resolving allegations that a Massachusetts-based disability-advocacy company and its subsidiary violated the Telemarketing Sales Rule and FTC Act. The FTC alleged...more
On October 7, the OCC and FDIC jointly proposed two rules to refocus bank supervision on material financial risks and eliminate “reputation risk” from their oversiOn October 7, the OCC and FDIC jointly proposed two rules to...more
On October 8, the payment processor and North Dakota’s only state-owned bank announced the “Roughrider Coin,” the state’s first stablecoin. The initiative will make Roughrider Coin available to North Dakota banks and credit...more