In Short -
The Situation: Since being confirmed as Director of the Consumer Financial Protection Bureau ("CFPB") last year, Rohit Chopra has urged state attorneys general to work with his agency to enforce federal...more
On October 18, 2021, New York Attorney General Letitia James directed two virtual currency lending platforms to immediately cease their unregistered and allegedly unlawful activities in New York and sent letters to three...more
10/29/2021
/ Cryptocurrency ,
Decentralized Finance (DeFi) ,
Enforcement Actions ,
Financial Markets ,
Financial Services Industry ,
Lenders ,
New York ,
Regulatory Violations ,
Securities Transactions ,
Stablecoins ,
State Attorneys General ,
Virtual Currency
The Massachusetts Student Loan Borrower Bill of Rights The SL Bill of Rights came into effect on July 1, 2021, and the DOB issued its implementing regulations on the same day. Building upon and codifying earlier proposed...more
The Situation: The New York Department of Financial Services ("NYDFS") has established a Statewide Office of Financial Inclusion and Empowerment, providing yet another example of state and federal regulators prioritizing fair...more
State attorneys general have become significant players in the financial world, using a number of special investigative and enforcement tools to investigate and prosecute alleged wrongdoing by financial market participants....more
The Situation: On January 1, 2021, the California Consumer Financial Protection Law ("CCFPL") will go into effect, and the Department of Financial Protection and Innovation ("DFPI") will become the financial sector's new...more
On June 11, 2020, California budget negotiators tabled California Governor Gavin Newsom's proposal to create a state version of the federal Consumer Financial Protection Bureau ("mini-CFPB"). As discussed in a previous Jones...more
The New York Department of Financial Services makes good on a promise to fill the void left by the Consumer Financial Protection Bureau.
On April 29, 2019, the New York Department of Financial Services ("DFS") announced...more