Hawaii recently enacted significant changes to its small-dollar lending law that repeals existing Hawaii law on deferred deposits and creates a new regime for installment loans.  Although H.B. 1192 took effect on July 1, the repeal of the existing law on deferred deposits is effective January 1, 2022 as is the new licensing requirement for

The Division of Banks of the Massachusetts Office of Consumer Affairs and Business Regulation has issued a supervisory alert to warn financial institutions of the potential legal and regulatory risks arising from NSF fees charged on the representment of unpaid transactions.

The alert addresses the common scenario in which a financial institution charges an NSF

Maryland has enacted legislation that revises the rules of determining creditworthiness.  On May 30, 2021, Maryland Governor Lawrence J. Hogan (R) signed HB1213 into law, which adds to Maryland Code Ann. Financial Institutions (FI) § 1-212.

Effective October 1, 2021, certain financial institutions (banking institutions, credit unions, savings and loan associations, community development financial institutions,

During D.C.’s declared State of Public Health Emergency, several financial protections have been put in place, including some that severely limit, among other things, collection activities relating to consumer contracts, repossession, and legal actions on accounts.  On September 1, Mayor Muriel Bowser signed the most recent pair of emergency and temporary legislation to land on

Maine has amended its Consumer Credit Code to target loans made using a bank partnership model.  The amendments include an anti-evasion provision under which a purported agent or service provider is deemed a “lender” subject to Title 9-A, Article 2 of Maine Revised Statutes.  Article 2 contains a licensing requirement and rate and fee limits

A new Nevada law that becomes effective on October 1, 2021 requires translated documents to be provided to consumers by businesses that advertise and negotiate transactions covered by the law in a language other than English (or allow their agents or employees to advertise and negotiate in a language other than English).  A knowing violation

On June 29, Florida Governor DeSantis signed into law CS/SB 1120 which amends Florida law to impose new limits on the use of “automatic dialers.”  The law is effective today, July 1.

The new law prohibits the use of an “automated system” to make “telephonic sales call” without the prior express written consent of the

State legislatures in New Mexico and Nevada enacted laws this session targeting medical debt collections. Both laws have been signed by the states’ Governors and take effect July 1, 2021.

New Mexico Patients Debt Collection Practices Act 

The New Mexico Patients Debt Collection Practices Act places a number of requirements on health care facilities and

In March 2021, Illinois Governor Pritzker signed into law SB 1792, which contains the Predatory Loan Prevention Act (the “Act”).  The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department  of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”

The Act extends the 36%