News & Analysis as of

FinTech State and Local Government

Orrick, Herrington & Sutcliffe LLP

Arizona enacts law regulating crypto asset kiosk operators

On May 12, the Arizona Legislature enacted HB 2387 which creates new fraud prevention requirements for cryptocurrency kiosk operators doing business in the state. The law requires cryptocurrency kiosk operators to, among...more

Brownstein Hyatt Farber Schreck

Colorado Enacts the Model Money Transmission Act

On April 18, 2025, Colorado enacted the Model Money Transmission Modernization Act (MTMA) (HB 25-1201), which repeals and replaces the state’s previous Money Transmitters Act. The law updates standards for the licensing,...more

Ankura

An Update on the CSBS Money Transmission Modernization Act (MTMA)

Ankura on

The financial landscape is rapidly evolving, with digital payment solutions becoming increasingly integral to both consumers and businesses. Amidst this shift, the Money Transmission Modernization Act (MTMA) emerged as a...more

Goodwin

Indiana Enacts Law Regulating Earned Wage Access Services

Goodwin on

Indiana has enacted a law that establishes a financial-services oversight regime for earned wage access services, also known as on-demand pay services, which allow workers to access earned but unpaid income before payday....more

Holland & Knight LLP

New Jersey Federal Court Sides with Kalshi Over Prediction Market Contracts

Holland & Knight LLP on

Prediction market platform Kalshi has secured a preliminary injunction against the New Jersey Division of Gaming Enforcement (the Division), preventing the state from enforcing a cease-and-desist order that aimed to halt...more

Sheppard Mullin Richter & Hampton LLP

Colorado Overhauls Money Transmission Law to Align with Multistate Licensing Standards 

On April 16, the Colorado General Assembly enacted House Bill 25-1201, replacing the state’s prior money transmitter law with the Money Transmission Modernization Act (the “Act”). Modeled on the multistate framework developed...more

Cozen O'Connor

Cozen Cities - April 30, 2025

Cozen O'Connor on

NEW YORK—Mayor Adams, CTO Announce City’s First Crypto Summit- New York Mayor Eric Adams (D) and Chief Technology Officer (CTO) Matthew Fraser will host New York City’s first Crypto Summit next month, bringing together...more

Orrick, Herrington & Sutcliffe LLP

Maryland enacts law regulating virtual currency kiosk operators

On April 22, the governor of Maryland approved SB 305 (the “Act”) which enacts new regulations for the virtual currency kiosk industry in Maryland. The Act requires virtual currency kiosk operators to register their kiosks...more

Jenner & Block

US Fintech Landscape for 2025

Jenner & Block on

With the change of presidential administrations in January, there has been a significant shift in the landscape for financial technology companies in the United States for 2025 and beyond. First, the new administration...more

Sheppard Mullin Richter & Hampton LLP

FDIC Withdraws Support for Colorado’s Opt-Out Law Before Tenth Circuit

On February 26, the FDIC withdrew its amicus brief in the 10th Circuit Court of Appeals challenging Colorado’s 2023 opt-out law which aimed to restricting higher-cost online lending. The FDIC’s decision follows a shift in the...more

Sheppard Mullin Richter & Hampton LLP

Class Action Certified Against Fintech Lender for Home Improvement Loans

In an order issued in January and made public on February 24, a judge in the United States District Court for the Northern District of California granted class certification to consumers alleging a fintech lender’s loan...more

Jenner & Block

Client Alert: The Future of Payments: Key Trends and Regulatory Challenges

Jenner & Block on

As the fintech and payments industries evolve in 2025, businesses, financial institutions, and regulators must adapt to rapid technological advancements and shifting regulations. The rise of real-time payments, embedded...more

Paul Hastings LLP

State-Level Developments: The Regulatory Landscape for Digital Assets

Paul Hastings LLP on

As we begin the 119th Congress, the nation is also preparing for the new administration to take office in just a few weeks. While federal action on digital assets remains a key focus, this week’s Crypto Policy Tracker shifts...more

Orrick, Herrington & Sutcliffe LLP

Texas issues a cease and desist order against a securities firm

On April 22, the Securities Commission of the State of Texas issued an Emergency Cease and Desist Order pursuant to the Texas Securities Act against respondents for allegedly offering investments in a digital gold vault that...more

Sheppard Mullin Richter & Hampton LLP

Bank Partnership Moves to Dismiss Class Action Asserting Violations of Georgia Rate Cap Law

On January 29, a Missouri-based bank and its Kansas-based fintech loan servicer filed a joint motion to dismiss a purported class action filed against them alleging violations of the Georgia Installment Loan Act (GILA) and...more

Sheppard Mullin Richter & Hampton LLP

Washington D.C. Introduced Rate Exportation Opt-Out and “Anti-Evasion” Bill

On November 30, Washington D.C. introduced District of Columbia Council Bill B 25-0609, which would opt the state out of Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) with...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 8, November 2023

FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches - “Amendment will require non-bank financial institutions to report when they discover that information affecting...more

Sheppard Mullin Richter & Hampton LLP

FinTech Prevails in Texas “True Lender” Challenge

On January 11, 2023, a Texas federal court dismissed a class action lawsuit against a leading financial technology company alleging it violated Texas usury laws by charging interest on loans it made through a partnership with...more

Sheppard Mullin Richter & Hampton LLP

Connecticut Stops FinTech from Unlicensed Lending Activities

On May 4, the Connecticut Department of Banking issued a temporary cease and desist order directing a peer-to-peer lending platform that connected borrowers with third-party lenders to cease its lending-related activities on...more

Sheppard Mullin Richter & Hampton LLP

Fintech Flips Script, Sues California Regulator Over 36% Rate Cap Law

On March 7, a Chicago-based FinTech company  filed a Complaint for Declaratory and Injunctive Relief in Los Angeles County Superior Court against the Commissioner of the California Department of Financial Protection and...more

Sheppard Mullin Richter & Hampton LLP

OCC Prevails in Challenge to “Valid When Made” Rule

On February 8, the U.S. District Court for the Northern District of California ruled against three states – California, Illinois, and New York – challenging the OCC’s rule on the “valid when made” doctrine. In 2020, the OCC...more

Sheppard Mullin Richter & Hampton LLP

Wyoming and Maine Issue New Licensing Requirements Potentially Impacting Passive Loan Investors

Wyoming and Maine recently amended their laws related to licensure requirements for consumer lending: - In July, Wyoming adopted House Bill 0008 (HB 0008), which amends provisions of the Wyoming Uniform Consumer Credit...more

Bradley Arant Boult Cummings LLP

A Fintech Leader’s Thoughts on the North Carolina Regulatory Sandbox Act

As part of Bradley’s continuing coverage of the North Carolina Sandbox Act, we wanted to know what community members and NC fintech aficionados thought about this proposed legislation. We posed six questions to Tariq Bokhari,...more

Bradley Arant Boult Cummings LLP

Technology Boom in NC? What You Should Know About the Proposed Regulatory Sandbox in the Tarheel State

Technology is evolving and advancing at a dizzying pace across the globe. Emerging technologies are reimagining everything from how we interact with each other to how we interact with businesses and institutions. Given the...more

Perkins Coie

Fintech Week in Review - February 2021 #2

Perkins Coie on

California DFPI Enters MOUs with Multiple Earned Wage Access Companies- California’s Department of Financial Protection and Innovation (DFPI) has continued to expand its jurisdiction over financial service providers under...more

46 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide