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The Nevada Legislature recently passed Assembly Bill 332 (“AB 332”), which amends Nev. Rev. Stat. Title 55 relating to Banks and Related Organizations to add a new chapter regulating Private Education Lenders and Student Loan Servicers.  The provisions of SB 322 will become effective on January 1, 2024. 

AB 332 exempts the following entities from its requirements:

  • Banks;
  • Savings and loan associations;
  • Savings banks;
  • Thrift companies;
  • Credit unions;
  • The Nevada System of Higher Education;
  • The Western Interstate Commission for Higher Education; and
  • Any wholly owned subsidiaries of the above.
… Continue Reading

The Nevada Legislature recently passed Senate Bill 276 (“SB 276”), which permits employees of Collection Agencies to work from remote locations and exempts certain entities from qualifying as a “Collection Agency.”  The provisions of SB 276 relevant to Collection Agencies will become effective on October 1, 2023.

SB 276 amends Nev.… Continue Reading

Nevada’s Governor recently approved amendments to Nevada laws that concern the ability of employees of Installment Loan Company licensees to work from remote locations and the collection of medical debt.  The amendments become effective on October 1, 2023.

Senate Bill 355 (“SB 355”) permits employees of Installment Loan Company licensees to work from remote locations. … Continue Reading

On June 13, Nevada’s governor signed into law Senate Bill 290 creating the nation’s first statutory framework for earned wage access (EWA) providers operating in the state.  The law appoints the state’s Commissioner of Financial Institutions to oversee the industry.

Earned wage access products allow consumers to access their earned wages before their scheduled pay date. … Continue Reading

The U.S. Court of Appeals for the Ninth Circuit, in a 2-1 decision, recently affirmed the district court’s decision denying the plaintiffs’ motion for a temporary restraining order and preliminary injunction to block enforcement of Nevada Senate Bill 248 (S.B. 248).  S.B. 248, which took effect on July 1, 2021, was enacted in response to the COVID-19 pandemic and requires debt collectors to provide written notification to debtors 60 days “before taking any action to collect a medical debt.”… Continue Reading

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). … Continue Reading

A bill (AB 298) currently awaiting the signature of the Nevada Governor would impose new limits on the terms of consumer vehicle leases and require new disclosures.

Currently, Nevada law on vehicle leasing (NRS Chapter 100) only applies to vehicle leases for business or commercial purposes.  The bill would amend Chapter 100 to cover a “consumer vehicle lease” which would be defined as “a contract in the form of a bailment or lease of a single vehicle by a person for a period of more than 4 months, primarily for personal, family or household purposes, whether or not the lessee has the option to purchase or otherwise become the owner of the vehicle at the expiration of the lease.”… Continue Reading

A federal District Court judge in Nevada has dismissed a case filed by several trade associations against the Commissioner of the Financial Institutions Division (“FID”) of the Nevada Department of Business and Industry and the Nevada Attorney General. The case was brought in response to a 2019 amendment (SB 311) that changed Nevada law to allow an applicant for credit who has no credit history, but who is or was married, to request that the creditor deem the applicant’s credit history to be identical to that of the applicant’s spouse during the marriage.… Continue Reading

We recently provided an update in a case we’ve been following involving a lawsuit challenging a Nevada statute, SB 311, that allows an applicant for credit with no credit history to request that a creditor treat an applicant’s credit history as identical to that of the applicant’s spouse during the marriage.… Continue Reading