News & Analysis as of

Consumer Financial Products Registration Requirement Financial Services Industry

Hudson Cook, LLP

Texas Governor Signs H.B. 700; New York Legislature Passes FAIR Business Practices Act

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On June 20, 2025, Texas Governor Greg Abbott signed House Bill 700, which regulates sales-based financing transactions and requires providers and brokers of sales-based financing transactions to register with the Texas Office...more

Ballard Spahr LLP

Is the ‘Clarified’ AAA Clause Registration Rule Clear Enough?

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Effective May 1, 2025, the American Arbitration Association (“AAA”) amended its Consumer Arbitration Rules, including Rule 12 dealing with the registration of consumer arbitration clauses. The AAA stated that its goal was to...more

Goodwin

Utah Becomes Seventh State to Enact Law Regulating Earned Wage Access Services

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Utah has become the seventh state (and the second in 2025) to enact a law that establishes a financial services oversight regime for earned wage access services, also known as on-demand pay services, which allow workers to...more

Shipkevich PLLC

CA DFPI Registration Requirements Under CCFPL for Debt Settlement Companies and Service Providers

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On October 11, 2024, the California Office of Administrative Law approved and filed with the California Secretary of State proposed regulations by the California Department of Protection and Innovation (“DFPI”) to establish...more

Ballard Spahr LLP

House Republican introduces resolution to nullify CFPB non-bank registry rule

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Rep. Andy Ogles, R-Tenn., on August 30, 2024 introduced in the House of Representatives a resolution under the Congressional Review Act (CRA) that would nullify the CFPB’s final nonbank registry rule....more

Ballard Spahr LLP

CFPB Forms Repeat Offender Unit

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As we recently reported, the CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule on June 3, 2024. The CFPB touts the registry as something that will...more

Ballard Spahr LLP

CFPB Addresses Repeat Offender Unit

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As we recently reported, the CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule on June 3, 2024. The CFPB touts the registry as something that will...more

Venable LLP

CFPB to Launch Registry of Nonbank Enforcement Actions

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In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to violate consumer...more

Shipkevich PLLC

CFPB to Begin Tracking Offenders through National Registry

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The CFPB has issued a final rule to provide transparency and track certain covered nonbank offenders. On June 3, 2024, the CFPB introduced a significant regulatory measure known as the Registry of Nonbank Covered Persons...more

Troutman Pepper Locke

CFPB Issues Final Rule on Nonbank Registration of Enforcement Orders

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On June 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule requiring covered nonbanks to register enforcement orders, and it is a doozy. Not only will covered nonbanks be required to register...more

Goodwin

South Carolina Becomes Fifth State to Enact Law Regulating Earned Wage Access Services

Goodwin on

South Carolina has become the fifth state (and the third in 2024) to enact a law that establishes a financial services oversight regime for earned wage access services, also known as on-demand pay services, which allow...more

Hinshaw & Culbertson - Consumer Crossroads

Utah Governor Cox Signs Bill to Repeal Collection Agency Registration Requirements

Effective May 3, 2023, Utah House Bill 20 (Collection Agency Amendments) will repeal a majority of Utah's collection agency statutes located in Title 12 of the Utah Code. Signed by Utah Governor Spencer Cox on March 13, 2023,...more

Hogan Lovells

Hong Kong – No hiding: mandatory registration of personal information for pre-paid SIM cards

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On 1 June 2021, the Hong Kong Government announced that it will enact the Telecommunications (Registration of SIM Cards) Regulation (Regulation) to implement the Real-name Registration Programme for subscriber identity module...more

Morrison & Foerster LLP

CFPB California Style: The California Consumer Financial Protection Law Brings More Providers Of Consumer Financial Products And...

On August 31, 2020, the California legislature passed the California Consumer Financial Protection Law (CCFPL). The law reflects Governor Newsom’s vision of a much more powerful banking agency with new registration authority,...more

Ballard Spahr LLP

New Jersey Mortgage Servicer License Applies to Holders of Mortgage Servicing Rights

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The New Jersey Department of Banking and Insurance recently issued a bulletin to provide guidance relating to the licensing and registration of mortgage servicers under the New Jersey Mortgage Servicers Licensing Act. The...more

Hogan Lovells

When is registration as a credit provider under the National Credit Act required?

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The fallout between an elderly couple and their business partner, and the consequent lengthy legal battle, led to an interesting situation for anyone borrowing or lending money in South Africa....more

Troutman Pepper Locke

Treasury Report Addresses Regulatory Approaches Affecting Investment Companies and Their Advisers

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As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - CFPB Issues FInal Arbitration Rule - Who Is Covered and How Does It Affect Your Business? The CFPB, after entertaining numerous comments, issued its final arbitration rule on Monday,...more

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