News & Analysis as of

Consumer Financial Protection Bureau (CFPB) New York Financial Institutions

Ballard Spahr LLP

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

Ballard Spahr LLP on

Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Husch Blackwell LLP

Five Things to Know About the New York Buy-Now-Pay-Later Act

Husch Blackwell LLP on

As part of an omnibus 2026 budget bill, New York passed a new law that will broadly govern point-of-sale (POS) installment financing offered to New York residents. The Buy-Now-Pay-Later (BNPL) Act was signed into law in early...more

Orrick, Herrington & Sutcliffe LLP

New York attorney general obtains $250K in CFPB’s dropped case

On June 16, the New York attorney general settled a civil action against a remittance provider in a case dropped by the CFPB earlier this year, which as previously covered by InfoBytes, left the State of New York as the sole...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws from remittance provider case, New York State remains as sole plaintiff

On April 7, U.S. SDNY received a consent motion from the CFPB to withdraw as a plaintiff in a case against a money remittance provider company. The CFPB, which initially joined the New York attorney general in the lawsuit,...more

Troutman Pepper Locke

New York Issues Proposed Regulations About Overdraft Fees

Troutman Pepper Locke on

Given the future uncertainty of the Consumer Financial Protection Bureau’s (CFPB) efforts to regulate bank overdraft fees, New York’s Department of Financial Services (DFS) has stepped in to fill a perceived gap. The DFS...more

Sheppard Mullin Richter & Hampton LLP

New York Proposes Limits on Overdraft and NSF Fees

On January 23, 2025 the New York Department of Financial Services (NYDFS) announced proposed regulations to curb overdraft fees and insufficient funds fees charged by banks in New York. The proposed rules aim to protect...more

Adams & Reese

Financial Institutions Face New Risks in Allowing Consumers to Execute Wire Transfers Online

Adams & Reese on

A recent court order issued in New York should concern any financial institutions that allow consumers to initiate wire transfers online. Financial institutions that allow consumers to execute wire transfers online should...more

Husch Blackwell LLP

New CFPB and NY AG Lawsuit Could Harm Consumer Credit Markets

Husch Blackwell LLP on

Perhaps not as prominent in the national news as another relatively high-profile balloon, in its latest effort to legislate and regulate by enforcement, the Consumer Financial Protection Bureau (CFPB), together with New...more

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