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State and Local Government Regulatory Agenda Financial Regulatory Reform

Kohrman Jackson & Krantz LLP

Recent Developments & Challenges to the Corporate Transparency Act

As we continue to monitor the future of the Federal Corporate Transparency Act (the CTA), which requires certain businesses to file a report disclosing their beneficial owners to the U.S. government, new developments in both...more

Perkins Coie

N.Y. Governor Proposes Measures To Ensure Fairness in “Buy Now Pay Later” Services

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On January 2, New York Governor Kathy Hochul announced a proposal to establish regulations for the “Buy Now Pay Later” (BNPL) loan industry. Gov. Hochul announced that she will propose legislation to require BNPL providers...more

Ballard Spahr LLP

New York Governor’s Proposed TED Bill Includes Sweeping BNPL Legislation

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After promising earlier this year to “establish nation-leading regulations for the Buy Now Pay Later loan industry,” New York Governor Kathy Hochul took a significant first step in that direction by including Buy Now Pay...more

Ballard Spahr LLP

Washington state “predatory loan” bills propose expanded coverage, “anti-evasion” language, licensing revisions, and other...

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House Bill 1874 (H.B. 1874), denominated the “predatory loan prevention act”, was pre-filed for introduction in the Washington state legislature December 5, 2023, and referred to the House Committee on Consumer Protection and...more

Troutman Pepper

Florida Senator Introduces Bill Regulating Bank Model Lending and Loan Programs Based on Voluntary Tips

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On October 9, a Florida state senator introduced SB 146, which would add a new section to the Florida Consumer Finance Act (CFA), attempting to curb evasion of the CFA. SB 146 would treat all payments incident to the loan as...more

Jenner & Block

Client Alert: California Enters the Arena of Virtual Currency Regulation

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After prolonged deliberation, California has finally decided to enter the virtual currency regulatory arena by adopting two virtual currency regulatory bills into law. The California Digital Financial Assets Law (“DFAL”),...more

Ballard Spahr LLP

Illinois Publishes Proposed Student Loan Servicing Rules

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The Illinois Department of Financial and Professional Regulation (IDFPR) published a notice of proposed rules implementing the Student Loan Servicing Act in the July 10, 2020 issue of the Illinois Register. Written comments...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

Ballard Spahr LLP

New York Issues Final Mortgage Servicing Regulations

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On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. ...more

Ballard Spahr LLP

CA and NY governors propose expansion of state consumer financial protection regimes

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The governors of California and New York have both proposed to expand the authority of their respective state’s consumer financial services regulator.  Both governors have framed their proposals as a response to what they...more

Ballard Spahr LLP

NYDFS Proposes New Regulation to Ease Restrictions on Sharing CSI

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Last week, the New York Department of Financial Services (“NYDFS”) announced a proposed new regulation that provides greater flexibility for entities licensed, chartered, authorized, registered, or supervised by the NYDFS to...more

Ballard Spahr LLP

Washington Proposes Amendments to Student Loan Servicing Rules

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The Washington State Department of Financial Institution (DFI) has published proposed revisions to its student loan servicer regulations. This proposal would amend rules that went into effect earlier this year pursuant to...more

Ballard Spahr LLP

CFPB to look to state AGs for more leadership in enforcement arena

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In remarks yesterday at the winter meeting of the National Association of Attorneys General in Washington, D.C., Mick Mulvaney indicated that the CFPB will be looking to state attorneys general for “much more collaboration...more

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