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Regulatory Oversight › New York › Buy Now Pay Later (BNPL)

Proskauer - Minding Your Business

Buy Now, Pay Later: Regulatory Retreat in Washington, State Regulation on the Rise

Proskauer - Minding Your Business on

Each year, upwards of 100,000 music fans pay up to $599 for the ticket price of weekend-long admission to the Coachella Music and Arts festival outside of Palm Springs, California. In 2025, however, nearly 60% of Coachella’s...more

Troutman Pepper Locke

Understanding New York’s New Buy-Now-Pay-Later Law

Troutman Pepper Locke on

New York has included a “Buy-Now-Pay-Later Act” as part of its broader budget legislation for the 2025-2026 fiscal year. Encapsulated in Article 14-B, the Act aims to regulate the burgeoning market of buy-now-pay-later (BNPL)...more

Sheppard Mullin Richter & Hampton LLP

New York Enacts BNPL and Overdraft Fee Restrictions

Sheppard Mullin Richter & Hampton LLP on

On May 9, the NYDFS announced that Governor Kathy Hochul signed New York’s FY2026 Budget into law, enacting two major consumer financial protection measures. The budget establishes a licensing and supervision framework for...more

Orrick, Herrington & Sutcliffe LLP

New York governor announces financial services updates for state

Orrick, Herrington & Sutcliffe LLP on

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

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