On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather than dismissing it. This move comes amidst concerns over significant consumer harm stemming from Synapse’s alleged unfair practices in managing funds across its network of partner financial institutions. The shortfall between the money consumers had in their accounts at the time their accounts were frozen and the money that has been returned by the partner financial institutions may be as high as $95 million.
Montana’s privacy law has received a refresh and updates will go into effect October 1, 2025 – exactly one year since the law took effect. The law was modified with SB 297, and changes include coverage, approach with minors, and more:
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).
.jpg)
.jpg)