News & Analysis as of

State Legislatures Financial Institutions

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

Adler Pollock & Sheehan P.C.

2024 Rhode Island Legislative Session Report

The Rhode Island General Assembly adjourned sine die on Friday, bringing the 2024 legislative session to a close. Below is an overview of noteworthy legislation passed during the session....more

Sheppard Mullin Richter & Hampton LLP

Kansas Enacts Earned Wages Access Law

On April 19, less than a month after Wisconsin’s enacted legislation, Kansas has followed suited by enacting comprehensive earned wages access legislation. Kansas’ law is set to take effect immediately upon publication....more

Sheppard Mullin Richter & Hampton LLP

Kansas Introduces New Commercial Financing Disclosure Law

On April 17, the Kansas Legislature signed SB 345, to become the most recent state to enact disclosure requirements for small business lenders. The law’s requirements apply to “providers” which are defined as persons who...more

Payactiv

Democrat Governor Tony Evers Signs Third Earned Wage Access Bill

Payactiv on

On March 21, Wisconsin Democrat Governor Tony Evers signed into law the country’s third earned wage access (EWA) bill, which recognizes EWA as a new and innovative financial service by creating a distinct license and...more

Shutts & Bowen LLP

HB-3: An Overview of ESG Factors Relating to Public Funds Investment and Financial Industry Impacts

Shutts & Bowen LLP on

On May 2, 2023, Florida Governor Ron DeSantis signed into law HB 3, also known as “An Act Relating to Government and Corporate Activism (the “Act”). The Act amends Florida Statute provisions relating to (i) deposits and...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

2022 Midterms and the Future of the Safe Banking Act

As the midterm elections come to an end, we revisit the future of the SAFE Banking Act and the hurdles we expect to see in the coming Congressional term. If passed, the SAFE Banking Act would remove uncertainties surrounding...more

Perkins Coie

Where Is the SAFE Banking Act?

Perkins Coie on

As Congress continues to debate the SAFE Banking Act, cannabis business and financial institutions should pay close attention to the bill’s potential to transform the accessibility of banking and payment processing solutions...more

Katten Muchin Rosenman LLP

Utah Becomes Third State to Enact Smaller Commercial Transaction Disclosure Law

On March 24, Utah Governor Spencer Cox signed into law SB 183, a bill that contains certain commercial transaction disclosure requirements applicable to prescribed providers of many forms of "smaller" business credit. Utah...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

Manatt, Phelps & Phillips, LLP

New York Legislature Passes Bill Requiring Commercial Finance Disclosures

New York may soon be joining California in requiring consumer-like disclosures on commercial financing transactions. On July 23, 2020, the New York State legislature passed SB 5470 (S.5470/A.10118-A), which closely follows...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

Ward and Smith, P.A.

Retaining North Carolina's Booming Virtual Currency Industry

Ward and Smith, P.A. on

North Carolina rightfully regards itself as a leader in innovation and as a hub for technology—it hosts Research Triangle Park and world-renowned universities, and according to the NCTech’s 2018 State of Technology Industry...more

Mintz - Education and Nonprofits Viewpoints

Senate Likely to Address Higher Education Bills Next Week

Next week, the Massachusetts Senate is likely to address legislation that will have an impact on higher education institutions in Massachusetts, their students and financial institutions extending loans to such students. ...more

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