United States: Consumer Credit

New York's Department of Financial Services has proposed comprehensive regulations establishing a licensing and regulatory framework for buy now, pay later lending in the state. The proposed rules impose extensive requirements covering underwriting, disclosures, fees, disputes, data use, and customer service, while creating a state-by-state compliance patchwork as federal oversight recedes. BNPL providers may need to significantly modify their operations, including underwriting processes, payment flows, and

Banking Agencies Issue Interagency Guidance On Lending To Non-Work Authorized Borrowers

The Tenth Circuit's en banc review of National Association of Industrial Bankers v. Weiser examines whether Colorado can use federal law to prevent out-of-state banks from exporting interest rates to Colorado borrowers. The Bell Policy Center's amicus brief argues that bank-fintech partnerships have undermined Colorado's consumer protection efforts and that expensive true lender litigation is inadequate to address high-cost lending. At stake is the interpretation of Section 525 of DIDMCA and whether state l

Philadelphia County Court of Common Pleas has launched a Consumer Credit Card Diversion Pilot Program requiring debt collection plaintiffs to certify key information and participate in early conciliation conferences before mandatory arbitration. The program aims to reduce resolution times from over a year to just a few months by addressing the backlog caused by batch-filed credit card debt collection actions that have overwhelmed the court's civil arbitration docket. Similar programs in Lancaster, Butler, a

The Consumer Financial Protection Bureau has released its Semiannual Regulatory Agenda covering the period from January 2026 through November 2026. Published through the Office of Information and Regulatory Affairs...

The Consumer Financial Protection Bureau has issued a request for information examining the TRID rule's timing requirements, tolerance thresholds, and disclosure procedures for mortgage lending. The RFI explores potential regulatory adjustments to reduce operational burdens on creditors while maintaining consumer protections, including questions about materiality-based standards, rescission rights for refinance transactions, and streamlined disclosure requirements for reverse mortgages.

As of April 18, 2026, New York State employers may no longer use consumer credit history when making hiring or employment decisions. By amending the State’s Fair Credit Reporting Act...

A comprehensive examination of coerced debt—a growing issue where survivors of domestic violence, elder abuse, and human trafficking are manipulated into incurring debt without meaningful consent.

Oregon joins the growing list of states attempting to opt out of federal interest rate exportation laws, while the UK's Financial Conduct Authority proposes significant changes to mortgage regulations aimed at helping first-time buyers and underserved consumers. Trade associations have filed suit challenging Oregon's new consumer finance law, arguing it improperly restricts interstate banking activities and commerce.