Press "Enter" to skip to content

Posts tagged as “state regulation”

NJ Appellate Division Holds Debt Purchaser Not Liable Under NJ Consumer Fraud Act for Failing to Obtain State License

A recent decision from the New Jersey Appellate Division comes as welcome relief for purchasers of defaulted debt. The decision, Woo-Padva v. Midland Funding LLC, concerns the New Jersey Consumer Finance Licensing Act (CFLA), and whether a debt buyer who failed to have such a license could be liable under the state’s consumer protection law.

Kansas Financial Institutions Information Security Act Approved by Governor

Kansas Gov. Laura Kelly has approved enactment of Senate Bill 44 which requires certain financial institutions to establish information security standards consistent with the federal Gramm-Leach-Bliley Act’s Safeguards Rule, 16 C.F.R. § 314.1, et seq.  The Kansas Financial Institutions Information Security Act becomes effective July 1, 2023.