News & Analysis as of

Consumer Financial Protection Act (CFPA) New York Consumer Financial Products

Orrick, Herrington & Sutcliffe LLP

Complaint challenges New York attorney general’s classification of earned wage access as a loan

On April 7, an earned wage access (EWA) provider filed a complaint seeking declaratory relief against the New York Office of the Attorney General (OAG) in U.S. SDNY. The plaintiff requested relief from the OAG’s enforcement...more

Husch Blackwell LLP

A Closer Look at New York's Proposed Abusiveness Prohibition

Husch Blackwell LLP on

In January, New York Governor Kathy Hochul introduced a budget bill that proposed the headline-grabbing Buy Now Pay Later licensing regime. Less attention has been given to another proposed provision: adding a prohibition on...more

Troutman Pepper Locke

New York Federal Court Sides with CFPB, Denies Debt Holders’ Motions to Dismiss Case Alleging Violations of the FDCPA and CFPA

Troutman Pepper Locke on

On August 22, a district court judge in the Western District of New York denied the defendants’ motions to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) alleging violations of the Fair Debt...more

Ballard Spahr LLP

New York federal court stays lawsuit filed jointly by CFPB and New York Attorney General pending SCOTUS decision in CFSA

Ballard Spahr LLP on

In January 2023, the CFPB filed a lawsuit in a New York federal district court jointly with the New York Attorney General (NYAG) against an auto finance company alleging violations of the Consumer Financial Protection Act...more

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