News & Analysis as of

NYDFS Buy Now Pay Later (BNPL)

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 governor announces financial services updates for state

On May 9, New York Governor Kathy Hochul announced several updates related to financial services for the State of New York. Hochul announced new legislation as part of the FY26 enacted budget to regulate “Buy Now, Pay Later”...more

Orrick, Herrington & Sutcliffe LLP

New York Governor Hochul proposes new financial protections

On January 14, Governor Kathy Hochul announced new proposals to protect New York consumers as part of her 2025 State of the State. Her proposals included legislation to: (i) combat algorithmic price discrimination by...more

Sheppard Mullin Richter & Hampton LLP

New York Governor Consumer Protection Agenda Targets Unfair and Deceptive Practices and BNPL Providers

On January 2, 2024, New York Governor Kathy Hochul announced “a sweeping consumer protection and affordability agenda,” what she termed as the “most significant expansion of consumer laws since 1980.” As part of that agenda,...more

Ballard Spahr LLP

New York Governor’s Proposed TED Bill Includes Sweeping BNPL Legislation

Ballard Spahr LLP on

After promising earlier this year to “establish nation-leading regulations for the Buy Now Pay Later loan industry,” New York Governor Kathy Hochul took a significant first step in that direction by including Buy Now Pay...more

WilmerHale

New York Governor Hochul Seeks to Strengthen and Expand State Consumer Protection Laws

WilmerHale on

In her State of the State address earlier this month, New York Governor Kathy Hochul proposed a significant expansion of New York’s consumer protection laws....more

Goodwin

Federal Reserve and OCC Release 2023 Bank Stress Test Scenarios

Goodwin on

On February 9, the Federal Reserve released its hypothetical scenarios for its 2023 bank stress tests, and on February 10, the OCC also released hypothetical economic and financial market scenarios to be used by covered...more

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