Connecticut has enacted a law (the amendment) amending the state’s existing small loan act (the act). In this alert, we focus on the amendment’s application of the act to “earned but unpaid wage or salary income advances”...more
7/10/2025
/ Amended Legislation ,
Borrowers ,
Consumer Lenders ,
Consumer Protection Laws ,
Disclosure Requirements ,
Earned Wage Access ,
Financial Services Industry ,
FinTech ,
Lenders ,
New Legislation ,
Regulatory Requirements ,
Unpaid Wages ,
Wage Advances
On January 1, 2025, Massachusetts Gov. Maura Healey approved House Bill No. 4840, which repeals and replaces Massachusetts’ money transmission law with a revised law (MTL Law), which is based in part on the model Money...more
1/17/2025
/ Amended Legislation ,
Banking Sector ,
Compliance ,
CSBS ,
Financial Services Industry ,
Licensing Rules ,
Money Transmission Act ,
Payment Systems ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements