United States: Consumer Credit

Washington, D.C. has enacted comprehensive legislation that fundamentally changes how medical debt is handled, prohibiting healthcare providers and debt collectors from reporting medical debt to credit reporting agencies while imposing strict limitations on collection practices. The law establishes significant protections including wage garnishment restrictions, interest rate caps, and mandatory financial assistance screening, though it faces concerns about potential impacts on the healthcare system's susta

New York City's Department of Consumer and Worker Protection has issued comprehensive guidance on its SHIELD Rule through a detailed FAQ, clarifying how the sweeping debt collection regulations will operate when they take effect January 1, 2027. The guidance addresses critical operational questions about contact limits, dispute procedures, verification requirements, and special protections for medical debt that go substantially beyond federal requirements. Companies collecting debts from New York City consu

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