News & Analysis as of

State Legislatures Banking Sector

Sheppard Mullin Richter & Hampton LLP

California Enacts Law Prohibiting State Banks and Credit Unions from Charging NSF Fees

On September 24, the Governor of California signed AB 2017 (the “Act”) into law. The Act prohibits state-chartered banks and credit unions from charging consumers non-sufficient fund fees (“NSF fees”) when they initiate...more

Allen Matkins

California Court Upholds Daily Transaction Limits On Bitcoin ATMs

Allen Matkins on

A year ago, Governor Gavin Newsom signed two bills,  Assembly Bill 39 and Senate Bill 401, that created the California Digital Financial Assets Law.  SB 401 added Section 3902 to the Financial Code to prohibit an operator of...more

Allen Matkins

California Bill Would Deem Some Lenders As Licensed

Allen Matkins on

California generally requires that persons engaged in the business of making loans be licensed.  If not licensed under some other statute (such as the banking, credit union or residential mortgage lending laws), a lender will...more

Sheppard Mullin Richter & Hampton LLP

Federal Reserve Issues Guidance on Supervision of “Novel Activities” by Banks, Impacts Bank-Fintech Partnerships

The Federal Reserve Board recently issued two Supervision and Regulation Letters that provide guidance on the agency’s supervision of novel activities and the process such as fintech partnerships, crypto-related activities,...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q1 2023

In this latest issue of the firm’s Focus on Fintech newsletter, our attorneys discuss the dissolution of Silicon Valley Bank and Signature Bank and the increased scrutiny on banking activity, as well as a number of updates...more

Orrick, Herrington & Sutcliffe LLP

Virginia establishes program to implement CDFI fund

On March 26, the Virginia governor signed HB 1411, which codifies the Virginia Community Development Financial Institutions Fund and creates the Virginia Community Development Financial Institutions Program to carry out the...more

Bradley Arant Boult Cummings LLP

CannaBanking in Alabama: Will Financial Institutions See Green?

Medical cannabis is on the way in Alabama. What does that mean for Alabama banks? The implications of this development are enormous for the financial services industry in Alabama, as each institution will soon have to...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report — Legislative Day 32

The loss of an hour of sleep this weekend was apparent among lawmakers and lobbyists in the State Capitol today as the legislature slowly cranked back up for Legislative Day 32. Each chamber took up heavy calendars consisting...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2020 West Virginia Legislature Updates, Issue 4

The 2020 Regular Session of the West Virginia Legislature just reached the 30th day, or its half way point. As of today, the House has introduced 1289 bills, while the Senate introduced 725. We will continue reporting on...more

Spilman Thomas & Battle, PLLC

WV Legislature Amends Consumer Protection Statute to Regulate and Impose Restrictions on Litigation Financiers

During its 2019 regular session, the West Virginia Legislature once again reviewed the West Virginia Consumer Credit and Protection Act and determined additional changes were necessary. The Act, one of the primary statutes...more

Hudson Cook, LLP

New York Student Loan Servicers Law: A Deeper Dive

Hudson Cook, LLP on

The May 2019 issue of Insights included discussion of a growing trend to regulate student loan servicers. Currently, there are a handful of states that impose requirements specifically on such parties. However, the ranks of...more

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