Two bills relevant to consumer finance have been passed by the New York Assembly and Senate and are awaiting Governor Cuomo’s signature.

The first bill, S3704, would amend New York’s plain language requirement to extend its application to consumer contracts involving up to $250,000.  The requirement currently does not apply to consumer contracts involving

As readers of our blog know, our consumer financial services group has been at the forefront of legal developments involving new technologies.  To align with the work that we’ve been doing in the financial technology space and to even better serve our clients in meeting the legal challenges in this rapidly developing landscape, Ballard Spahr

Effective July 28, debt collectors licensed in Washington will be subject to new requirements when collecting medical debt.

Substitute House Bill 1531, signed into law by Washington Governor Jay Inslee on April 30, amended the state’s debt collection law that requires debt collectors to be licensed by adding certain substantive requirements along with a

Only a few months have passed since the U.S. Department of Housing and Urban Development filed a charge of discrimination against Facebook, alleging that the ad-targeting techniques used to determine which users would see advertising related to housing and housing-related service (like mortgage loans) were based on protected characteristics and “close proxies” for those

AB 539 was cleared by the California Senate’s Banking Committee on June 26.  The bill would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new rules governing loan duration, and prohibiting prepayment penalties.  For example, while the CFL does not set a maximum interest rate on

Utah is now taking applications for its new regulatory sandbox program.  In this podcast, we interview Rep. Marc Roberts, the sponsor of the bill that created the program, and Bryan Cowley, the Utah regulator who will oversee the program’s administration.  Topics discussed include the bill’s history and objectives, implementation plans, reciprocity with other sandbox programs,

A new (and perhaps final) chapter was added to the tale of ITT Educational Services, Inc. last week with the CFPB’s announcement that it had settled the lawsuit it filed against Student CU Connect CUSO, LLC (CU Connect), a special purpose entity company set up to fund, purchase, manage, and hold private student loans (CU