On December 22, 2021, New York State Senate Bill 2767A was signed into law. The Bill establishes the Private Student Loan Refinancing Task Force (the “Task Force”), which was charged with “study[ing] and analyz[ing] ways lending institutions that offer non-federal student loans to students of New York institutions of higher education can be incentivized and

Pointing to a growth in consumer complaints related to crypto-assets, on November 10th, 2022, the Consumer Financial Protection Bureau (the “CFPB”) released a Complaint Bulletin, which analyzed in excess of 8,300 consumer complaints that the CFPB had received related to crypto-assets.  The CFPB reviewed complaints submitted to it during the period of

On September 29, 2022, the Attorneys General of Arkansas, Iowa, Kansas, Missouri, Nebraska, and South Carolina filed a complaint in the U.S. District Court for the Eastern District of Missouri against President Biden, Secretary of Education Miguel Cardona, and the U.S. Department of Education (4:22-cv-01040) seeking to halt implementation of the Biden Administration’s

On September 9, 2022, the California Department of Financial Protection & Innovation (the “DFPI”) released a Notice of Proposed Rulemaking Action that proposes to adopt regulations implementing the Student Loan Servicing Act (section 28100, et seq.) and the Student Loans: Borrower Rights Law (Civil Code section 1788.100, et seq.).  The comment period for

On August 31, 2022, the California Senate voted to approve House Assembly Bill 156, and sent the bill to Governor Newsom for consideration and potential signature.  If it becomes law, the bill would amend the existing California Debt Collection Act (the “DCLA”) in three ways.

First, the bill would amend provisions of Cal. Fin.

On August 8, 2022, the District of Columbia Department of Insurance, Securities and Banking (the Department”) issued a Bulletin on money transmission (the “Bulletin”).  The Department issued the Bulletin to ensure that parties “engaging in or planning to engage in money transmission with Bitcoin or other virtual currency used as a medium of exchange, method