News & Analysis as of

State and Local Government Proposed Legislation Financial Services Industry

Fox Rothschild LLP

Thirty-two Attorneys General Press Congress to Finally Pass the SAFER Banking Act to Protect Cannabis Businesses and Communities

Fox Rothschild LLP on

The cannabis industry continues to face a fundamental challenge: access to the regulated banking system. Despite legalization (adult use and/or medical) in dozens of states, cannabis remains federally illegal, leaving...more

Troutman Pepper Locke

NYC Comptroller Requested Stronger Protections for New Yorkers Amidst Attenuated CFPB Authority

Troutman Pepper Locke on

New York City Comptroller Brad Lander released a report titled “Standing Up for New York Consumers – How New York State and New York City can Strengthen Consumer Financial Protection in the Trump Era,” which called for the...more

Ballard Spahr LLP

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

Ballard Spahr LLP on

Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Orrick, Herrington & Sutcliffe LLP

Illinois amendment to delay the effective date of its Interchange Fee Prohibition Act passes both chambers

On May 31, the Illinois General Assembly passed legislation to defer the effective date of the Interchange Fee Prohibition Act by one year until July 1, 2026. As previously covered by InfoBytes, Illinois originally enacted...more

Steptoe & Johnson PLLC

Pennsylvania Joining the United States in Proposing a Bitcoin Strategic Reserve: Implications for the Energy Industry

Steptoe & Johnson PLLC on

On November 19, Pennsylvania Representative Mike Cabell (R-117) introduced legislation to form the Pennsylvania Bitcoin Strategic Reserve, aiming to diversify the state’s financial holdings by allocating up to 10% of its...more

Womble Bond Dickinson

The Complexities and Costs of Eliminating Interchange Fees on Sales Tax Portions

Womble Bond Dickinson on

Illinois has become the first state to adopt legislation banning interchange fees on the tax amount and gratuity (tip) amount of a credit or debit payment transaction. The Illinois Interchange Fee Prohibition Act (IFPA)i,...more

Womble Bond Dickinson

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

Womble Bond Dickinson on

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

Troutman Pepper Locke

Proposed Legislation in Louisiana Aims to Regulate Commercial Financing Transactions

Troutman Pepper Locke on

On March 1, Senate Bill (SB) 335 was introduced, which, if passed, would impose certain requirements on “commercial financing transactions.” Recently, multiple states have enacted disclosure regulations for commercial...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

Ballard Spahr LLP

Washington state “predatory loan” bills propose expanded coverage, “anti-evasion” language, licensing revisions, and other...

Ballard Spahr LLP on

House Bill 1874 (H.B. 1874), denominated the “predatory loan prevention act”, was pre-filed for introduction in the Washington state legislature December 5, 2023, and referred to the House Committee on Consumer Protection and...more

Orrick, Herrington & Sutcliffe LLP

New York Governor highlights NYDFS in 2024 State of the State proposal

On January 2, New York Governor Kathy Hochul revealed a proposed plan focused on consumer protection and affordability as the initial part of the Governor’s 2024 State of the State address. The plan includes changes to New...more

Troutman Pepper Locke

Florida Senator Introduces Bill Regulating Bank Model Lending and Loan Programs Based on Voluntary Tips

Troutman Pepper Locke on

On October 9, a Florida state senator introduced SB 146, which would add a new section to the Florida Consumer Finance Act (CFA), attempting to curb evasion of the CFA. SB 146 would treat all payments incident to the loan as...more

Robinson+Cole Data Privacy + Security Insider

State Legislatures Eye AI Regulation

A growing number of states have enacted laws this year to study artificial intelligence (AI), ahead of possible legislative action to address expected threats to jobs, civil liberties, and property rights with the emerging...more

Seyfarth Shaw LLP

The Week in Weed: July 2023 # 2

Seyfarth Shaw LLP on

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we check in on Pennsylvania, Ohio and Virginia – each state is in a different place and heading in a...more

Morgan Lewis

New York Attorney General Proposes Comprehensive and Restrictive Digital Assets Bill

Morgan Lewis on

New York Attorney General Letitia James introduced on May 5, 2023 a proposed bill that, if enacted, would significantly tighten regulation over digital asset market participants and exchanges. While the New York State...more

Sheppard Mullin Richter & Hampton LLP

New York Publishes Proposed Rules on Commercial Financing Disclosures

On September 14, the New York Department of Financial Services (NYDFS) published a notice of proposed rules under New York’s Commercial Financing Disclosure Law (CFDL)...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Issues Proposed Rules to Implement New Commercial Financing Disclosure Law

On October 20, the New York Department of Financial Services (NYDFS) issued proposed rules under New York’s Commercial Financing Disclosure Law (CFDL) (See S5470-B, as amended by S898). Under the CFDL, commercial financing...more

Bradley Arant Boult Cummings LLP

A Fintech Leader’s Thoughts on the North Carolina Regulatory Sandbox Act

As part of Bradley’s continuing coverage of the North Carolina Sandbox Act, we wanted to know what community members and NC fintech aficionados thought about this proposed legislation. We posed six questions to Tariq Bokhari,...more

Bradley Arant Boult Cummings LLP

Technology Boom in NC? What You Should Know About the Proposed Regulatory Sandbox in the Tarheel State

Technology is evolving and advancing at a dizzying pace across the globe. Emerging technologies are reimagining everything from how we interact with each other to how we interact with businesses and institutions. Given the...more

Seyfarth Shaw LLP

The Week in Weed: May 2020 #5

Seyfarth Shaw LLP on

The news is mostly happening in the states this week. Oklahoma is having some medical marijuana issues. Massachusetts recreational shops reopened. Virginia decriminalized marijuana. Ohio may not put cannabis on the ballot...more

Eversheds Sutherland (US) LLP

New York Governor Cuomo’s proposed budget bill bolsters DFS Superintendent’s fining authority

On January 21, New York Governor Andrew Cuomo released his Fiscal Year 2021 executive budget proposal for the State of New York. The budget includes proposed legislative that would increase the authority of the Superintendent...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2020 West Virginia Legislature Updates, Issue 4

The 2020 Regular Session of the West Virginia Legislature just reached the 30th day, or its half way point. As of today, the House has introduced 1289 bills, while the Senate introduced 725. We will continue reporting on...more

Seyfarth Shaw LLP

The Week in Weed: January 2020 #4

Seyfarth Shaw LLP on

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. The big news in cannabis this week comes from New Mexico.  Legislation introduced last Thursday would legalize...more

Seyfarth Shaw LLP

The Week in Weed: December 2019

Seyfarth Shaw LLP on

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. New Jersey is talking about decriminalizing marijuana. Regular readers will doubtless recall that legalization...more

Ballard Spahr LLP

Movement on 2 California Bills Implicating the California Financing Law

Ballard Spahr LLP on

There was movement recently on two California bills that we have been tracking closely and could substantially alter the lending and brokering landscape under the California Financing Law (CFL). ...more

37 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide