Governor Kathy Hochul today announced that the Department of Financial Services has published proposed rules to protect New Yorkers using Buy Now, Pay Later financing options. The regulations put into practice the law signed by Governor Hochul as a part of her FY26 Budget, establishing a licensing and supervision framework for Buy Now, Pay Later loan providers, and protecting consumers through required disclosures, dispute resolution standards, limits on fees, and data privacy protections.
The Federal Deposit Insurance Corporation (FDIC) today released the results of its latest Quarterly Banking Profile, a comprehensive summary of financial results based on reports from 4,336 insured commercial banks and savings institutions.
On February 3, the U.S. Court of Appeals for the 7th Circuit vacated a lower court’s dismissal of a federal consumer protection lawsuit and remanded the case for further proceedings. The plaintiff had filed FDCPA and TILA claims against a credit union and its insurer, alleging that after an Indiana state court entered a garnishment order to collect an unpaid balance exceeding $40,000, the defendants engaged in unauthorized post-judgment debt collection, false reporting, and failed to provide accurate disclosures.
On March 6, 2026, a U.S. district court will consider whether to approve a settlement agreement resolving parallel lawsuits by the Texas attorney general (AG) and the federal government against Houston-area developer Colony Ridge Development, LLC and related companies. The complaints in both suits — which were filed during the Biden administration — claim that Colony Ridge discriminatorily targeted Hispanic consumers with predatory financing to purchase land for residences in areas that were in fact uninhabitable.
Since its inception in 2011, the CFPB has cost consumers between $237 billion and $369 billion, the Trump Administration’s Council of Economic Advisers (CEA) said, in a report.
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