On June 1, the Illinois General Assembly passed a bill that, if enacted, will delay the effective date of the Interchange Fee Prohibition Act by one year, from July 1, 2025, to July 1, 2026.Continue Reading Illinois Delays Interchange Fee Ban by One Year
On May 28, Nevada Governor Joe Lombardo approved SB 437, creating a new framework for internet-based consumer lenders that lend to Nevada residents. The law defines an “Internet consumer lender” as any entity that exclusively offers or facilitates consumer loans online and becomes effective on October 1, 2025.Continue Reading Nevada Enacts Law Allowing Remote Licensing for Internet Consumer Lenders
Louisiana and Connecticut recently passed legislation establishing regulatory frameworks for earned wage access (EWA) providers.Continue Reading Louisiana and Connecticut Advance Earned Wage Access Laws
On June 2, the California State Assembly unanimously passed Assembly Bill 1180, which now moves to the California Senate for consideration. The bill would require the Department of Financial Protection and Innovation (DFPI) to adopt regulations permitting payments required under the California Digital Financial Assets Law (DFAL) to be made using digital assets. If enacted, the law would take effect on July 1, 2026.Continue Reading California Assembly Advances Bill to Permit Crypto Payments under DFAL
Amendments to California’s Automatic Renewal Law (ARL) will take effect on July 1, 2025. Enacted in September 2024 through Assembly Bill No. 2863, the amendments expand disclosure, consent, and cancellation obligations for businesses offering subscription or continuous service plans to California consumers.Continue Reading California’s “Auto Renewal Law” Takes Effect on July 1
On May 28, Maryland Governor Wes Moore signed House Bill 1294 into law, establishing a comprehensive regulatory framework for Earned Wage Access (EWA) providers operating in the state. Effective October 1, the new law provides for licensing of both employer-integrated and consumer-directed EWA providers under the Maryland Consumer Loan Law, while also introducing a host of new consumer protection requirements.Continue Reading Maryland Enacts Earned Wage Access Law
On May 1, Pennsylvania Governor Josh Shapiro announced a new centralized consumer protection hotline, website, and email address, providing residents with streamlined access to state agencies for reporting scams, financial misconduct, and insurance-related disputes. The rollout is part of a broader push by Pennsylvania to expand state-level enforcement amid a shift in federal priorities.Continue Reading Pennsylvania Launches Centralized Consumer Complaint System, Expands State Enforcement Under Dodd-Frank
On May 16, Vermont Governor Phil Scott signed into law S. 27, a medical debt relief measure that prohibits the inclusion of medical debt on consumer credit reports and establishes a state-funded initiative to abolish qualifying medical debt held by Vermont residents.Continue Reading Vermont Enacts Law Prohibiting Medical Debt Reporting and Funding Debt Relief Initiative
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 Buy Now Pay Later (BNPL) lenders operating in New York and supports NYDFS’s January 2025 proposal to cap overdraft fees and prohibit certain high-cost practices (previously discussed here). Key provisions of the budget include:Continue Reading New York Enacts BNPL and Overdraft Fee Restrictions
On May 15, the CFPB rescinded its May 2022 interpretive rule that had expanded state enforcement authority under Section 1042 of the Consumer Financial Protection Act (CFPA). The Bureau now maintains that the previous guidance misread the statute and improperly extended state authority beyond what Congress intended.Continue Reading CFPB Narrows State Enforcement Powers by Rescinding 2022 Interpretative Rule
On May 6, Indiana Governor Mike Braun signed House Enrolled Act No. 1125 into law, making Indiana the latest state to enact a statutory framework for regulating earned wage access (EWA) products. The Indiana Earned Wage Access Act, which takes effect January 1, 2026, requires most EWA providers to obtain a license from the Indiana Department of Financial Institutions and comply with operational, disclosure, and consumer protection requirements. Continue Reading Indiana Enacts Earned Wage Access Law