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New Legislation Disclosure Requirements Financial Institutions

Pillsbury - Global Trade & Sanctions Law

UK Expands Whistleblower Protections to Bolster Sanctions Enforcement

On June 26, 2025, the UK government brought into force the Public Interest Disclosure (Prescribed Persons) (Amendment) Order 2025 (the “2025 Amendment”), marking a notable development in the UK government’s sanctions...more

Latham & Watkins LLP

Hong Kong’s Stablecoin Regime Comes Into View

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Taking effect in August 2025, the new legislation will bring issuers of fiat-referenced stablecoins into the regulatory perimeter. By Simon Hawkins, Adrian Fong, and Sam Maxson On 21 May 2025, the Legislative Council of Hong...more

Woods Rogers

Legislation Impacting Financial Services Industry Going Into Effect July 1, 2025

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The 2025 Virginia General Assembly session concluded in May. During this term, legislators passed a variety of bills that will impact financial services. The more significant legislation is summarized below...more

Husch Blackwell LLP

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

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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

Maine enacts statute providing guidance for suspected elder abuse

On June 9, the governor of Maine approved SP 586, which contains provisions related to how financial institutions can address suspected elder abuse. The legislation permits financial institutions and credit unions to disclose...more

Mayer Brown

North Dakota Broadens Licensing Law to Include Alternative Financing

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North Dakota recently enacted legislation that amends the state’s main non-mortgage lender licensing law, the North Dakota Money Brokers Act (the “Act”), to define a “loan” to include any “alternative financing product” that...more

Sheppard Mullin Richter & Hampton LLP

Vermont Enacts Law Prohibiting Medical Debt Reporting and Funding Debt Relief Initiative

On May 16, Vermont Governor Phil Scott signed into law S. 27, a medical debt relief measure that prohibits the inclusion of medical debt on consumer credit reports and establishes a state-funded initiative to abolish...more

Sheppard Mullin Richter & Hampton LLP

Indiana Enacts Earned Wage Access Law 

On May 6, Indiana Governor Mike Braun signed House Enrolled Act No. 1125 into law, making Indiana the latest state to enact a statutory framework for regulating earned wage access (EWA) products. The Indiana Earned Wage...more

Orrick, Herrington & Sutcliffe LLP

Idaho enacts the Transparency in Financial Services Act

On March 24, Idaho enacted SB 1027, referred to as the “Transparency in Financial Services Act,” which prohibits financial institutions from discriminating based on social credit scores. The Act prohibits large banks and...more

Skadden, Arps, Slate, Meagher & Flom LLP

California Seeks Public Input on Climate Reporting Requirements

On December 16, 2024, the California Air Resources Board (CARB) issued a request to solicit feedback regarding Senate Bill 253, Climate Corporate Data Accountability Act (SB 253) and Senate Bill 261, Greenhouse Gases:...more

Ankura

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

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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

Venable LLP

New Commercial Financing Requirements Become Effective in Connecticut and Kansas

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Over the past several years, many states have considered and enacted requirements requiring commercial financing providers to give disclosures when extending commercial financing....more

Sheppard Mullin Richter & Hampton LLP

Kansas Enacts Earned Wages Access Law

On April 19, less than a month after Wisconsin’s enacted legislation, Kansas has followed suited by enacting comprehensive earned wages access legislation. Kansas’ law is set to take effect immediately upon publication....more

Troutman Pepper Locke

Kansas Becomes Fourth State to Enact Earned Wage Access Legislation

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On April 19, Kansas Governor Laura Kelly signed House Bill (HB) 2560 to regulate earned wage access (EWA) products and services. HB 2560 enacts the Earned Wage Access Services Act that requires EWA providers to be licensed by...more

Sheppard Mullin Richter & Hampton LLP

Kansas Introduces New Commercial Financing Disclosure Law

On April 17, the Kansas Legislature signed SB 345, to become the most recent state to enact disclosure requirements for small business lenders. The law’s requirements apply to “providers” which are defined as persons who...more

Mayer Brown

Connecticut and Florida Join the Fray, Enact Commercial Finance Disclosure Laws

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Following closely on the heels of a Georgia law enacted in May, Connecticut and Florida have become the latest states to enact laws requiring providers of small business financing to provide disclosures to recipients—and in...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

Troutman Pepper Locke

Connecticut Becomes Latest State to Enact a Commercial Financing Disclosure and Registration Law

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On June 28, Connecticut Governor Ned Lamont signed into law Senate Bill 1032 entitled An Act Requiring Certain Financing Disclosures, which requires certain providers of commercial financing to make various disclosures and...more

Troutman Pepper Locke

Florida Enacts Commercial Financing Disclosure Law

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On June 26, Florida Governor Ron DeSantis signed the Florida Commercial Financing Disclosure Law (FCFDL). As discussed here, the FCFDL mandates that covered commercial financing companies provide consumer-like disclosures for...more

Latham & Watkins LLP

Florida Law to Restrict the Use of Certain ESG Factors by Asset Managers and Financial Institutions

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The legislation mirrors anti-“industry boycott” legislation introduced or passed in other US states and provides more explicit rubrics of prohibited factors. On May 5, 2023, Florida Governor Ron DeSantis signed into law...more

Pillsbury Winthrop Shaw Pittman LLP

New York Finalizes Disclosure Requirements for Commercial Financing Transactions

New York has joined California and several other states in finalizing regulations requiring consumer-style disclosures for broad categories of commercial financing transactions....more

Moore & Van Allen PLLC

Advisory: Canada Designates Proud Boys a Terrorist Entity

Canada has designated the Proud Boys as a terrorist entity, meaning that banks and other financial services providers will no longer be allowed to deal with or facilitate transactions concerning property controlled by the...more

ArentFox Schiff

Piercing the Corporate Shell: New Legislation Will Force Anonymous Shell Companies to Disclose Their True Owners

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Three months after a leak and investigation into over $2 trillion in suspect transactions at the world’s largest banks and financial institutions, known as the “FinCEN Files,” Congress passed legislation that would require...more

Ballard Spahr LLP

West Virginia enacts significant amendments to debt collection law

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Significant changes to West Virginia’s debt collection law will take effect on July 4, 2017.  Senate Bill 536, approved by the state’s governor on April 21, 2017, includes the following amendments...more

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