News & Analysis as of

NYDFS Consumer Financial Protection Bureau (CFPB) Consumer Protection Laws

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

NYDFS appoints Gabriel O’Malley to lead consumer protection division

Recently, it was reported NYDFS recently appointed Gabriel O’Malley as the head of its Consumer Protection and Financial Enforcement Division (CPFED), effective on March 13, according to a recent social media post. O’Malley...more

Goodwin

New York Seeks to Expand Consumer Protections by Proposing New Legislation and by Increasing Recruitment at its Department of...

Goodwin on

As we recently reported, there have been rollbacks of consumer protections on the federal level, including the curtailing of enforcement activity at the CFPB. ...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Holland & Knight LLP

Overdraft Free? New York's Pre-Proposed Outreach on Bank Fees

Holland & Knight LLP on

Insufficient funds transactions occur when consumers issue a payment order (a check, some other written order or an electronic debit) against funds in their bank account, and the account lacks sufficient funds to cover the...more

Ballard Spahr LLP

NY State Department of Financial Services issues proposed overdraft rule

Ballard Spahr LLP on

The New York State Department of Financial Services has released a proposed rule that would regulate overdraft, non-sufficient funds (NSF), and return deposit item fees charged by banks, trust companies, savings banks,...more

ArentFox Schiff

California’s ‘Mini-CFPB’—Gov. Newsom’s Budget Proposal Forecasts Significant Expansion of Consumer Financial Services Oversight...

ArentFox Schiff on

California is poised to join the growing cadre of states enhancing their consumer financial protection functions in response to perceived decreasing federal oversight and enforcement under the Trump administration. Following...more

Goodwin

California and New York Propose to Expand Consumer Protections

Goodwin on

At the start of the new year, both California’s Governor Newson and New York’s Governor Cuomo proposed expansions to their respective state’s regulatory oversight of consumer financial services. Of particular note,...more

White & Case LLP

Consumer financial services: The road ahead: Marketplace lending

White & Case LLP on

The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau....more

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