News & Analysis as of

FinTech Disclosure Requirements New Legislation

Sheppard Mullin Richter & Hampton LLP

Stablecoin Regulation Takes Effect Under Newly Enacted GENIUS Act

On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more

Goodwin

Connecticut Enacts Law Regulating Earned Wage Access Services

Goodwin on

Connecticut has enacted a law (the amendment) amending the state’s existing small loan act (the act). In this alert, we focus on the amendment’s application of the act to “earned but unpaid wage or salary income advances”...more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast

Troutman Pepper Locke on

In this special crossover edition of Payments Pros and The Consumer Finance Podcast, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — Payments Pros – The Payments Law Podcast

Troutman Pepper Locke on

In this special crossover edition of the Payments Pros and Consumer Finance podcasts, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....more

Orrick, Herrington & Sutcliffe LLP

Rhode Island enacts new virtual currency kiosk provisions

On June 23, the governor of Rhode Island signed into law HB 5121 which grants Rhode Island new currency transmission laws to regulate and establish new licensing, disclosure and anti-fraud requirements for virtual currency...more

Troutman Pepper Locke

Texas Enacts New Commercial Sales-Based Financing Bill Severely Restricting Automatic Debits

Troutman Pepper Locke on

On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant...more

Venable LLP

Why Fintechs Can't Always Skip the State Licensing Maze for Earned Wage Access

Venable LLP on

Earned Wage Access (EWA) lets employees access wages they've already earned, but haven't yet been paid, typically through an app or digital service. For workers, this can mean avoiding payday loans or overdraft fees....more

Mayer Brown

New York Enacts First-of-Its-Kind Law to License Buy-Now-Pay-Later Lenders

Mayer Brown on

The regulatory environment for “Buy Now, Pay Later” (or “BNPL”) loans is entering a new era. On May 9, 2025, New York enacted legislation that will require providers of BNPL loans to be licensed by the state and adhere to...more

Goodwin

Maryland Enacts Law Regulating Earned Wage Access Services

Goodwin on

Maryland has enacted 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 access earned but unpaid income before payday....more

Payactiv

Maryland Enacts Landmark Earned Wage Access Legislation

Payactiv on

On May 27, 2025, Maryland enacted first-of-its-kind earned wage access (EWA) legislation to ensure Maryland workers are able to retain continued access to this valuable employee benefit. This landmark legislation follows...more

Ballard Spahr LLP

New York Gov. Hochul signs legislation that includes BNPL Licensing Requirements and other Consumer Protection Provisions

Ballard Spahr LLP on

New York Gov. Kathy Hochul has signed legislation that, among other things, imposes new licensing requirements on Buy Now, Pay Later services....more

Orrick, Herrington & Sutcliffe LLP

Arizona enacts law regulating crypto asset kiosk operators

On May 12, the Arizona Legislature enacted HB 2387 which creates new fraud prevention requirements for cryptocurrency kiosk operators doing business in the state. The law requires cryptocurrency kiosk operators to, among...more

Goodwin

Indiana Enacts Law Regulating Earned Wage Access Services

Goodwin on

Indiana has enacted 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 access earned but unpaid income before payday....more

Mayer Brown

Arkansas and Utah Enact Laws to Regulate Earned Wage Access Providers

Mayer Brown on

Just days apart, Arkansas and Utah enacted laws to regulate providers of earned wage access (“EWA”) services, joining the handful of states that have enacted legislation to regulate these products since 2022. Arkansas House...more

Sheppard Mullin Richter & Hampton LLP

Utah and Arkansas Enact Earned Wage Access Regulations

Utah and Arkansas have enacted new legislation governing earned wage access (EWA) services, establishing state-level registration obligations and consumer protection standards. Both laws clarify that EWA services are not...more

McGuireWoods LLP

Utah to Join Other States Enacting Legislation to Regulate Earned Wage Access

McGuireWoods LLP on

Upon signature by Gov. Spencer Cox, Utah will join five other states in enacting a law that specifically regulates earned wage access (EWA) providers as nonlenders....more

Ankura

The Way Out is Through: A Guide for Navigating U.S. Consumer Privacy Laws

Ankura on

It can be daunting for Fintechs, money services businesses (MSBs), and other non-bank entities operating in the consumer financial products and services space to navigate privacy legislation and determine which provisions of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Colorado’s Landmark AI Act: What Companies Need To Know

Colorado has become the first state to enact a comprehensive law relating to the development and deployment of certain artificial intelligence (AI) systems. The Colorado Artificial Intelligence Act (CAIA), which will go into...more

Perkins Coie

Fintech Week in Review - January 2021 #3

Perkins Coie on

Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

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