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Proposed Legislation FinTech Licensing Rules

Walkers

The BMA invites feedback on proposed Payment Services Provider regulatory framework

Walkers on

The Bermuda Monetary Authority ("BMA") proposes a new Payments Services Act ("PSA") to replace the Money Service Business Act 2016 to establish a clear, risk-based framework for Payment Service Providers ("PSPs") operating in...more

Ballard Spahr LLP

“True Lender Act” Bill Proposed in Maryland

Ballard Spahr LLP on

Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps on loans to Maryland...more

Ballard Spahr LLP

NY Licensing Proposal Threatens New Burdens on Financial Services Providers, Reduced Credit Availability

Ballard Spahr LLP on

Proposed legislation to implement New York Governor Andrew Cuomo's 2018 Fiscal Year Executive Budget would amend the New York Licensed Lender Law to significantly extend its licensing requirements. The proposal threatens to...more

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