On June 20, 2025, the U.S. Supreme Court issued its ruling in McLaughlin Chiropractic Associates, Inc. v. McKesson Corp., holding that the federal Hobbs Act does not bind district courts in civil enforcement proceedings to a federal agency’s interpretation of a statute. The Court held that district courts must independently determine the law’s meaning under ordinary principles of statutory interpretation while affording appropriate respect to the agency’s interpretation.
Buy Now, Pay Later (BNPL) has become a major force in consumer finance over the past few years, but how this type of borrowing affects long-term financial health has remained something of a mystery—until now.
This fall, FICO is set to unveil the first credit scores from a major scoring provider that incorporate BNPL data. The new models—FICO Score 10 BNPL and FICO Score 10 T BNPL—are designed to give lenders deeper insights into consumers’ BNPL repayment habits, helping to paint a fuller picture of creditworthiness.
On June 18, 2025 the Consumer Financial Protection Bureau (CFPB) issued an interim final rule that amends Regulation B to extend the compliance deadline dates set forth in the small business lending data collection rule required under Section 1071 of the Dodd-Frank Act (the 1071 Rule).
On June 17, the U.S. Senate voted 68-30 to pass S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the Act). This represents a landmark effort by the U.S. Congress to establish a comprehensive federal framework for the regulation of payment stablecoins. Passed with bipartisan support in the Senate, the Act aims to provide regulatory clarity, enhance consumer protection, and safeguard national security in the rapidly growing stablecoin sector.
The House has passed legislation that would ban “trigger leads,” except in limited circumstances.
The “Homebuyers Privacy Protection Act of 2025,” H.R. 2808, passed the House by voice vote. The Senate has passed, S. 1467, a slightly different version of the bill by unanimous consent. The two bodies must now reconcile differences between their bills. The House-passed version calls for a Government Accountability Office study on the value of trigger leads by text message.
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