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Financial Services Industry › Penalties › New Legislation

Holland & Knight LLP

Know Now or Pay Later: Navigating New York's Buy-Now-Pay-Later Act

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Once hailed as the sleek, interest-free alternative to credit cards, buy-now-pay-later (BNPL) loans have become a defining feature of modern consumer finance. Consumers like them because with just a few clicks, they can...more

Herbert Smith Freehills Kramer

UK’s controversial foreign influence registration scheme looms – Banks and other businesses prepare The new regime aimed at...

Herbert Smith Freehills Kramer on

Almost two years since the National Security Act 2023 became law, on 1 July 2025 both tiers of the UK Government’s new Foreign Influence Registration Scheme (FIRS), will finally ‘go live’. Despite our own partially successful...more

Hinch Newman LLP

FAIR Business Practices Act Passed by New York Legislature that Bolsters GBL Section 349

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As recently blogged about here, in March 2025, Office of the Attorney General for the State of New York introduced the Fostering Affordability and Integrity Through Reasonable (“FAIR”) Business Practices Act in the State...more

Buchalter

New Colorado Money Transmission Act Parallels Key Provisions of CSBS Money Transmission Modernization Act

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Colorado has adopted a new Money Transmission Modernization Act (“Act”), replacing the old Colorado Money Transmitters Act...more

Troutman Pepper Locke

Illinois Passes Bill Prohibiting Collection of Coerced Debt

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On May 22, Illinois House Bill 3352 passed the Illinois legislature and now awaits Governor JB Pritzker’s signature. This bill amends the Illinois Collection Agency Act to provide an individual a way to avoid liability for a...more

Orrick, Herrington & Sutcliffe LLP

Maryland enacts law regulating virtual currency kiosk operators

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On April 22, the governor of Maryland approved SB 305 (the “Act”) which enacts new regulations for the virtual currency kiosk industry in Maryland. The Act requires virtual currency kiosk operators to register their kiosks...more

Allen Matkins

California May Soon Require Companies To Submit Elder Abuse Prevention Plans

Allen Matkins on

California legislators are introducing the first bills in the current biennium.  One of these bills, AB 83 (Pacheco), would add an entirely new division to the California Financial Code.  This new division would consist of a...more

American Conference Institute (ACI)

U.S. Implications of the EU AI Act

American Conference Institute (ACI) on

The European Union (EU) is leading the global charge with AI regulations. U.S. companies are not beyond their regulatory reach, however, and should be preparing their AI risk mitigation efforts accordingly....more

Buchalter

Florida Enacts Commercial Financing Disclosure Law, Mandatory Compliance Date January 1, 2024

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Florida has enacted its own Commercial Financing Disclosure Law (“CFDL”) that is similar to California and New York’s disclosure laws. The Florida CFDL applies to covered “Commercial Financing Transactions” consummated on or...more

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