On July 29, 2022, the New York Department of Financial Services published pre-proposal draft amendments to its Cybersecurity Regulations, 23 NYCRR 500.00, et seq. , that if adopted will require covered entities to implement numerous policy and operational changes.
Posts published in “State & Local Regulation”
On May 10, Gov. Ned Lamont signed into law Substitute Senate Bill 6 (Public Act 22-15), Connecticut’s version of comprehensive consumer data privacy legislation. This makes Connecticut the fifth state to enact such legislation, following California, Virginia, Colorado, and Utah. The Act will go into effect July 1, 2023.
Medical debt continues to capture the attention of state and federal government, with lawmakers and regulators continuing to target how medical debt is collected and how it is reflected on a consumer credit report.
There remain over 30 comprehensive consumer data privacy bills pending in the states, but some are falling off the chart as the legislative sessions come to an end. While the number of active bills is decreasing, there is one new state data privacy law, and others that continue to show movement.
On March 24, Utah Gov. Spence Cox signed into law SB 227, the Utah Consumer Privacy Act. This makes Utah the fourth state, behind California, Virginia, and Colorado, to enact comprehensive consumer data privacy legislation.
In just a few weeks several provisions of the New York Consumer Credit Fairness Act (NYCCFA) will take effect.
There are currently over 40 comprehensive consumer data privacy bills pending in the states as we enter the third month (for most states) of the legislative sessions.
Despite the national and global events that took center stage in 2021, the upward trend in data privacy legislation at the state level continued and with the addition of the amendments to the Safeguards Rule, 2022 brings new compliance challenges for many businesses and financial institutions.
When 2020 ended, many of us were unsure what 2021 would look like from a bankruptcy perspective. Would consumer filings increase? Could we see bankruptcy reform and particularly in the area of discharge of student loans?
Welcome to our annual year-end review of consumer credit law. Beginning today and over the next several days, we feature a series of articles exploring the events that shaped the consumer financial services industry in 2021.
On Oct. 8, S.737A was signed into New York law, “requiring debt collectors to inform debtors that written communications are available in large print format.” The legislation becomes effective Nov. 7, 2021.
The District of Columbia recently passed legislation to substantially revise its debt collection law on an emergency basis. The amended law became effective Sept. 23, 2021. DC’s debt collection law was first enacted in 1971 and the amendments not only make it more burdensome for debt collectors but also for most financial services companies and other businesses operating in the District who were not previously within the scope of the law.