News & Analysis as of

Overdraft Fees Buy Now Pay Later (BNPL)

Sheppard Mullin Richter & Hampton LLP

New York Enacts BNPL and Overdraft Fee Restrictions

On May 9, the NYDFS announced that Governor Kathy Hochul signed New York’s FY2026 Budget into law, enacting two major consumer financial protection measures. The budget establishes a licensing and supervision framework for...more

Orrick, Herrington & Sutcliffe LLP

New York governor announces financial services updates for state

On May 9, New York Governor Kathy Hochul announced several updates related to financial services for the State of New York. Hochul announced new legislation as part of the FY26 enacted budget to regulate “Buy Now, Pay Later”...more

Husch Blackwell LLP

The State of the CFPB During a Fraught Transition Period: Part II

Husch Blackwell LLP on

It has been a little over two months since President Donald Trump returned to office, and since then, the Consumer Financial Protection Bureau (CFPB) has been in flux—to put it mildly. As of this writing, it is unclear...more

Sheppard Mullin Richter & Hampton LLP

CFPB Publishes Supervisory Highlights Focused on Deposits, Small-Dollar Lending, BNPL, and Paycheck Advance Products

During the week of January 6, the CFPB released a “second” Winter 2024 Supervisory Highlights, focused on the agency’s most recent findings in deposits, small dollar lending, buy now, pay later (BNPL), paycheck advance...more

Ballard Spahr LLP

Chopra Delivers Testimony to Congress on Semi-Annual Report

Ballard Spahr LLP on

On June 4, 2024, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2023 and ending September 30, 2023. On June 12, 2024, CFPB Director Chopra appeared before the Senate Banking...more

Akerman LLP

Explainer Things: Season 2 Episode 1

Akerman LLP on

Hard to believe 2024 marks 25 years since the Y2K panic. If Y2K means little to you, you're either too young or, like many of us at Explainer Things, you've blocked out the memories of end-of-times fearmongering and...more

Kaufman & Canoles

CFPB Proposes New Rule on Overdraft Practices

Kaufman & Canoles on

On January 18, 2024, the CFPB proposed an extensive (211-page) rule on overdraft practices applicable to Financial Institutions (FIs) of $10 billion or more in assets (so called “very large FIs”). The proposed rule would not...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 13, 2023)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

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