On August 18, Illinois Governor JB Pritzker announced the signing of two measures establishing comprehensive digital asset safeguards. The Digital Assets and Consumer Protection Act (SB 1797) and the Digital Asset Kiosk Act...more
On August 19, the Wyoming Stable Token Commission announced the launch of the Frontier Stable Token (FRNT), making Wyoming the first public entity in the United States to issue a state-backed, blockchain-based stablecoin. The...more
On August 7, Illinois enacted Senate Bill 2457, amending the Collection Agency Act and removing its January 1, 2026 repeal date under the Regulatory Sunset Act. The law retains the licensing framework for collection agencies...more
On August 12, a coalition of banking trade associations sent a joint letter to Congress warning that the recently enacted GENIUS Act contains a loophole that could allow the indirect payment of interest or yield on payment...more
8/15/2025
/ Banking Sector ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Legislative Agendas ,
New Legislation ,
Payment Systems ,
Regulatory Oversight ,
Regulatory Reform ,
Stablecoins ,
Technology ,
The GENIUS Act
On August 2, the U.S. Senate passed the Homebuyers Privacy Protection Act (H.R. 2808) by unanimous consent, which amends the Fair Credit Reporting Act (FCRA) to restrict consumer reporting agencies from sharing “trigger...more
Two states have recently finalized significant updates to their money transmission laws, signaling continued nationwide alignment with the Conference of State Bank Supervisors’ Model Money Transmission Modernization Act...more
On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more
On June 30, California Governor Newsom has signed AB 130, a budget trailer bill related to housing. This legislation includes new requirements for mortgage servicers of subordinate mortgages, defined in the bill, and took...more
On June 30, 2025, Connecticut Governor Ned Lamont signed Public Act No. 25-66, enacting broad revisions to Connecticut’s money transmission statutes. The new law, effective October 1, 2025, updates definitions, expands...more
On June 26, Rhode Island Governor Dan McKee signed companion bills S 0169 and S 0172 into law, twin measures that amend the state’s Deceptive Trade Practices Act and Interest and Usury statute to impose some of the nation’s...more
On July 4, the “One Big Beautiful Bill Act,” was signed into law, which includes a provision to reduce the cap on the CFPB’s annual funding. The bill lowers the cap from 12% to 6.5% of the Federal Reserve’s total operating...more
On June 27, Pennsylvania enacted Senate Bill 202, which significantly expands the Commonwealth’s Money Transmitter Act (MTA) to include virtual currency transmission. Under the amended law, transmitting virtual currency is...more
7/7/2025
/ Anti-Money Laundering ,
Cryptocurrency ,
Digital Assets ,
FinTech ,
Legislative Agendas ,
Licensing Rules ,
New Legislation ,
Pennsylvania ,
Regulatory Oversight ,
Regulatory Requirements ,
State and Local Government
On June 23, Oregon enacted SB 605, barring medical-debt information from appearing in consumer credit reports. The measure, which amends the Oregon Unlawful Trade Practices Act, takes effect January 1, 2026....more
7/7/2025
/ Consumer Protection Laws ,
Credit Reports ,
Debt Collection ,
Healthcare ,
Hospitals ,
Legislative Agendas ,
Medical Debt ,
New Legislation ,
Oregon ,
Regulatory Agenda ,
Regulatory Reform ,
State and Local Government
On June 20, Texas Governor Greg Abbot signed into law HB 700, adding Chapter 398 to the Texas Finance Code. Effective September 1, the statute establishes a regulatory framework for commercial sales-based financing and...more
On June 22, 2025, Texas Governor Greg Abbott signed into law House Bill 149, enacting the Texas Responsible Artificial Intelligence Governance Act (TRAIGA). The law establishes one of the nation’s most comprehensive...more
7/7/2025
/ Artificial Intelligence ,
Consumer Protection Laws ,
Disclosure Requirements ,
Enforcement ,
Government Agencies ,
Legislative Agendas ,
New Legislation ,
Penalties ,
Regulatory Requirements ,
State and Local Government ,
Technology Sector ,
Texas
On June 9, Maine Governor Janet Mills signed into law LD558, which prohibits the reporting of medical debt to consumer reporting agencies. The law bars medical creditors, debt collectors, and debt buyers from furnishing...more
Louisiana and Connecticut recently passed legislation establishing regulatory frameworks for earned wage access (EWA) providers.
Connecticut’s SB 5140 passed the legislature on June 4 and awaits Governor Ned Lamont’s...more
6/13/2025
/ Consumer Lenders ,
Consumer Protection Laws ,
Disclosure Requirements ,
Earned Wage Access ,
Fees ,
Financial Services Industry ,
Loans ,
New Legislation ,
Regulatory Requirements ,
State and Local Government ,
State Legislatures
On May 28, Nevada Governor Joe Lombardo approved SB 437, creating a new framework for internet-based consumer lenders that lend to Nevada residents. The law defines an “Internet consumer lender” as any entity that exclusively...more
Amendments to California’s Automatic Renewal Law (ARL) will take effect on July 1, 2025. Enacted in September 2024 through Assembly Bill No. 2863, the amendments expand disclosure, consent, and cancellation obligations for...more
On June 2, the California State Assembly unanimously passed Assembly Bill 1180, which now moves to the California Senate for consideration. The bill would require the Department of Financial Protection and Innovation (DFPI)...more
On May 16, Vermont Governor Phil Scott signed into law S. 27, a medical debt relief measure that prohibits the inclusion of medical debt on consumer credit reports and establishes a state-funded initiative to abolish...more
5/30/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Reports ,
Debt Collection ,
Disclosure Requirements ,
Financial Institutions ,
Healthcare ,
Healthcare Facilities ,
Medical Debt ,
New Legislation ,
Nonprofits ,
Regulatory Reform ,
State and Local Government
On May 28, Maryland Governor Wes Moore signed House Bill 1294 into law, establishing a comprehensive regulatory framework for Earned Wage Access (EWA) providers operating in the state. Effective October 1, the new law...more
On May 9, the NYDFS announced that Governor Kathy Hochul signed New York’s FY2026 Budget into law, enacting two major consumer financial protection measures. The budget establishes a licensing and supervision framework for...more
5/23/2025
/ Banking Sector ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Fees ,
Financial Regulatory Reform ,
Lenders ,
New Legislation ,
New York ,
Overdraft Fees ,
Popular ,
Regulatory Oversight
On May 20, the U.S. Senate voted 66-32 to move forward with the Guardrails and Enforcement for Neutral Issuers of United States Stablecoins (GENIUS) Act (the “Act”), pushing the stablecoin bill past a major procedural hurdle....more
5/23/2025
/ Banking Sector ,
Cryptocurrency ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Government Agencies ,
Legislative Agendas ,
New Legislation ,
Proposed Legislation ,
Regulatory Requirements ,
Stablecoins
On May 6, Indiana Governor Mike Braun signed House Enrolled Act No. 1125 into law, making Indiana the latest state to enact a statutory framework for regulating earned wage access (EWA) products. The Indiana Earned Wage...more