CFPB, Federal Agencies, State Agencies, and Attorneys General
The new California Business and Consumer Services Agency (BCSA), launched on July 1, 2026, will focus on improper practices that drive costs up for state residents, agency Secretary Rohit Chopra said, in a recent blog post.
“A key priority for the agency is to crack down on harmful and corrupt practices that wrongfully raise costs for families and honest businesses,” Chopra wrote.… Continue Reading
Massachusetts Governor Maura Healey has proposed regulations that would stop certain companies in the state from reporting medical debt to consumer credit agencies.
The proposal would prohibit licensed medical care providers and debt collectors working for them from reporting medical debt to credit bureaus, intending to help patients avoid long-term financial harm after an unexpected illness or medical emergency. … Continue Reading
The New Jersey Attorney General and Division of Consumer Affairs recently issued a comprehensive Enforcement Statement signaling an aggressive enforcement posture toward so-called “junk fees” under the New Jersey Consumer Fraud Act (CFA). The Enforcement Statement was issued in conjunction with Governor Mikie Sherrill’s Executive Order No. 19, which directs state agencies to review and recommend measures to eliminate or reduce junk fees across a broad range of industries.… Continue Reading
Citing federal cutbacks in consumer protection and an increase in consumer complaints, the Illinois Department of Financial and Professional Regulation (IDFPR) has launched a new online submission option intended to modernize and simplify the manner in which Illinois consumers file complaints.
The new portal will accept complaints that will be directed to the Division of Banking (DOB) as well as complaints that will be directed to the Division of Financial Institutions (DFI).… Continue Reading
Countering an Executive Order issued by President Trump and the adoption by the CFPB of its final rule revising Regulation B, the New York Department of Financial Services recently issued an Industry Letter warning the financial institutions that it regulates that they must consider disparate impact when lending.
“Regulated Entities are reminded that under Section 296-a, covered credit decisions that result in a disparate impact may constitute an unlawful discriminatory practice,” the agency wrote in a letter to financial institutions.… Continue Reading
California Governor Gavin Newsom has appointed former CFPB Director Rohit Chopra to be the inaugural Secretary of a new cabinet-level agency that he created last year — the Business and Consumer Services Agency (“BCSA”). Although the appointment must be confirmed by the California Senate, the move is already generating significant attention within the financial services industry because it may signal California’s intent to assume a substantially larger role in consumer financial regulation and enforcement at a time when many expect reduced federal regulatory activity.… Continue Reading
The Washington Supreme Court issued an opinion on April 30, 2026, that deprives Washington state lenders of the right to nonjudicially foreclose residential-secured loans unless those loans are evidenced by a negotiable instrument—i.e., a promissory note with only basic payment terms that comports with RCW 62A.3-104.
The court further held that HELOCs and other types of multiple advance (e.g.,… Continue Reading
An earned wage access (EWA) law has gone into effect in Louisiana. The legislation, passed earlier this year, became law without the signature of Gov. Jeff Landry.
The legislation’s sponsor, state Rep. Vinney St. Blanc told the Louisiana Radio Network that if you’re a health care provider or a nurse and your child breaks his arm, “I have something.… Continue Reading
Massachusetts Attorney General Andrea Joy Campbell has reached a $2.5 million settlement with Earnest Operations LLC, a Delaware-based student loan company.
The settlement resolves allegations that the company’s lending practices violated consumer protection and fair lending laws, in part through the use of artificial intelligence (AI) models that could allegedly result in disparate harm to Black, Hispanic, and non-citizen applicants and borrowers in violation of Massachusetts law.… Continue Reading
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 state.
“The Trump Administration’s dismantling of the Consumer Financial Protection Bureau (CFPB)—including the elimination of 90 percent of its staff—will leave millions of Americans more vulnerable to unfair, deceptive, and abusive business practices from lenders and financial institutions of all types,” the comptroller’s office said in releasing a new report.… Continue Reading
