An initiative designed to add significant regulatory obligations to the home improvement and solar financing industries is progressing through the California legislature. Senate Bill 784 (SB 784) passed the California Senate...more
7/31/2025
/ Borrowers ,
California ,
Construction Industry ,
Construction Project ,
Consumer Financial Products ,
Disclosure Requirements ,
Financial Services Industry ,
Lenders ,
Loans ,
PACE ,
Property Improvements ,
Regulatory Requirements ,
Renewable Energy ,
Solar Energy
In this crossover episode of The Consumer Finance Podcast and Payments Pros, Chris Willis, Jason Cover, and Taylor Gess expand on the Point-of-Sale Finance Series to focus on leases and rent-to-own (RTO) models. This...more
In this special joint episode of The Consumer Finance Podcast and Payments Pros, Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory Practice, is joined by Keith Barnett and Jason Cover...more
In this special joint episode of The Consumer Finance Podcast and Payments Pros, Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory Practice, is joined by Keith Barnett and Jason Cover...more
On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant...more
6/25/2025
/ Borrowers ,
Consumer Financial Products ,
Disclosure Requirements ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loans ,
Merchant Cash Advance (MCA) ,
New Legislation ,
Regulatory Requirements ,
Texas
In this episode of Payments Pros, Carlin McCrory introduces Jason Cover as a new co-host. Jason, a partner in Troutman Pepper Locke's Consumer Financial Services practice, brings extensive knowledge in consumer lending and...more
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule to rescind its previous regulation requiring nonbank entities to report certain agency and court orders to a Bureau registry....more
5/14/2025
/ Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
Non-Bank Lenders ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Requirements ,
Rescission ,
Rulemaking Process
Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction...more
4/14/2025
/ Banks ,
Broker-Dealer ,
Disclosure Requirements ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financing ,
Lenders ,
Loans ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Texas ,
Usury
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/17/2025
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Regulatory Agenda ,
Regulatory Requirements ,
TCPA ,
UDAAP ,
Uniform Commercial Code (UCC)
Earlier this week, we discussed the Federal Trade Commission’s (FTC) final amendments to the Negative Option Rule, now retitled the Rule Concerning Recurring Subscriptions and Other Negative Option Programs. These amendments,...more
In March 2023, we discussed the Federal Trade Commission’s (FTC) Notice of Proposed Rulemaking (NPRM) aimed at making it easier for consumers to cancel recurring subscriptions and memberships. The proposed rule was part of...more
Health care providers often find themselves in the position of collecting direct payments for medical services through patient payment plans. While providers must adhere to a myriad of health care laws when doing so, they...more
10/4/2024
/ Creditors ,
Financial Services Industry ,
Health Care Providers ,
Health Insurance ,
Healthcare ,
Medical Debt ,
Patients ,
Payment Plans ,
Regulation Z ,
Regulatory Requirements ,
Truth in Lending Act (TILA)
On July 7, Missouri Governor Mike Parson signed SB 103 into law, which prohibits any person from offering earned wage access (EWA) services without registering with the Division of Finance and paying an annual $1,000 fee. The...more
7/13/2023
/ Consumer Financial Products ,
Credit Reports ,
Credit Scores ,
Earned Wage Access ,
Electronic Fund Transfer Act ,
Financial Services Industry ,
New Legislation ,
Payday Lending Rule ,
Popular ,
Regulatory Requirements ,
Wage and Hour ,
Wages
On June 15, Nevada Governor Joe Lombardo signed SB 290 into law, which imposes licensing, reporting, examination, and other substantive requirements on providers of earned wage access (EWA) products. Specifically, the...more