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Consumer Protection Laws Proposed Legislation Financial Regulatory Reform

Troutman Pepper Locke

NYC Comptroller Requested Stronger Protections for New Yorkers Amidst Attenuated CFPB Authority

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New York City Comptroller Brad Lander released a report titled “Standing Up for New York Consumers – How New York State and New York City can Strengthen Consumer Financial Protection in the Trump Era,” which called for the...more

Sheppard Mullin Richter & Hampton LLP

NYC Comptroller Report Calls for Overhaul of State Consumer Financial Protections

On June 9, 2025, New York City Comptroller Brad Lander released a report urging City and State leaders to modernize consumer financial protections. The report outlines a series of legislative and regulatory recommendations...more

Goodwin

Senate Banking Committee Proposes Bill That Would Eliminate CFPB Federal Reserve Funding

Goodwin on

In June 2025, the Senate Banking Committee introduced a version of the “One Big, Beautiful Bill” that would eliminate the CFPB’s Federal Reserve funding. The CFPB can currently receive funds of up to 12% of the Federal...more

Orrick, Herrington & Sutcliffe LLP

Bill introduced in U.S. House would create a five-person commission to lead the CFPB

Recently, Rep. Bill Huizenga (R-MI), Vice Chair of the House Committee on Financial Services, introduced H.R. 3445, a proposal to amend the CFPA and restructure the CFPB into an independent agency governed by a bipartisan...more

Holland & Knight LLP

U.S. House of Representatives Approves 70 Percent Cut to CFPB Funding

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The U.S. House of Representatives has passed an extensive budget reconciliation bill that would reduce the CFPB budget by 70 percent. In a 215-214 vote along party lines, the budget cut first approved by the House Committee...more

A&O Shearman

UK Government advances BNPL Regulation

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HM Treasury (HMT) has published a response to its 2024 consultation on regulating Buy-Now, Pay-Later (BNPL) products and laid the draft secondary legislation (Financial Services and Markets Act 2000 (Regulated Activities etc)...more

A&O Shearman

Goodbye old friend? HM Treasury consultation on Consumer Credit Act 1974 reform

A&O Shearman on

It’s here at last—well, the next set of steps towards a brave new dawn for consumer credit, at least. No sooner have we taken down the bunting and put the final champagne glasses in the dishwasher, having celebrated the 40th...more

Latham & Watkins LLP

UK Government Publishes Initial Proposals on CCA Reform

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Government consults on the first stage of reforming the UK consumer credit regime, covering information requirements, sanctions, and criminal offences....more

Hogan Lovells

UK consumer credit reform and buy-now pay-later regulation – May 2025 developments

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On 19 May 2025, HM Treasury released a suite of publications as part of its ongoing efforts to modernise the UK’s consumer credit framework. These include the Consumer Credit Act Reform – Phase 1: May 2025 Consultation, the...more

Paul Hastings LLP

Support for Stablecoin Legislation and Leadership Confirmations

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While the House and Senate were out of session for the last two weeks, federal financial regulators and legislators took a wide range of actions impacting the future of digital asset policy. Senate Banking Chair Tim Scott...more

Troutman Pepper Locke

New York's Bold Move to Create a Mini CFPB — The Consumer Finance Podcast

Troutman Pepper Locke on

In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Jesse Silverman and James Kim to discuss recent developments in New York's legislative efforts to strengthen its consumer financial...more

Ballard Spahr LLP

As Trump Administration rolls back CFPB’s work, New York wants to fill the void

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As the Trump Administration attempts to drastically cut CFPB funding and staffing, New York regulators and legislators are attempting to fill what could be a void in consumer protection efforts....more

Ballard Spahr LLP

Predatory Loan Prevention Bill Introduced in Florida to Codify “True Lender” Analysis

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Florida SB 146, a bill that would add a “Predatory loan prevention” section to the Florida Consumer Finance Act has been introduced in the Florida Senate, seeking to curb bank-model lending programs and codify a “true lender”...more

Ballard Spahr LLP

Chairwoman Waters introduces bill to reverse Mulvaney actions

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House Financial Services Committee Chairwoman Maxine Waters has introduced the “Consumers First Act” (to be designated H.R. 1500), a modified version of a bill she introduced in the last session of Congress when Mr. Mulvaney...more

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