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State and Local Government Debt Financial Services Industry

Troutman Pepper Locke

Illinois Passes Bill Prohibiting Collection of Coerced Debt

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On May 22, Illinois House Bill 3352 passed the Illinois legislature and now awaits Governor JB Pritzker’s signature. This bill amends the Illinois Collection Agency Act to provide an individual a way to avoid liability for a...more

Troutman Pepper Locke

Arizona, Kentucky, and Hawaii Become Latest States to Introduce Legislation to Regulate Earned Wage Access Products

Troutman Pepper Locke on

Recently, Arizona, Kentucky, and Hawaii have jumped on the bandwagon to regulate earned wage access (EWA) products and services. Arizona’s proposed bill makes clear that EWA services are not considered to be loans or money...more

Ballard Spahr LLP

CO and NY enact laws to prevent reporting of medical debt to credit bureaus

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Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged, in the past two years, Equifax,...more

Ballard Spahr LLP

Debt Management Company to Pay $110k in Refunds to Customers under Agreement with Colorado Attorney General’s Office

Ballard Spahr LLP on

Colorado Attorney General Phil Weiser announced a recent agreement between Florida-based debt management company Touchstone Partners, Inc. and the Colorado Department of Law in resolution of Touchstone’s violations of the...more

Cadwalader, Wickersham & Taft LLP

Puerto Rico’s Plan of Adjustment ‘Goes Effective’

On March 15, 2022, the Financial Oversight and Management Board for Puerto Rico announced that the Plan of Adjustment for the Commonwealth of Puerto Rico became effective, more than four years after Puerto Rico commenced...more

Cadwalader, Wickersham & Taft LLP

2019 Year in Review: Securitization Litigation and Regulation

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect.  A...more

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