Governor Kathy Hochul today signed new legislation as part of the FY26 Enacted Budget that will protect consumers across New York and fight back against scams or exploitative practices. From simplifying the process of canceling recurring online subscriptions to cracking down on overdraft fees that target low-income consumers, these new laws will help New Yorkers fight back against unfair corporate practices.
Today the Federal Trade Commission voted to defer the compliance deadline for the amended Negative Option Rule by 60 days. The Commission issued a statement on the new deadline.
The Commission vote to postpone the compliance deadline was 3-0.
The Consumer Financial Protection Bureau (CFPB) is shifting its focus when it comes to oversight and enforcement in the growing Buy Now, Pay Later (BNPL) market.
In a recent announcement, the bureau stated that it will no longer prioritize enforcement actions based on its previous interpretation that classified BNPL lenders under credit card regulations. This change signals a potential rollback of a rule issued last year that required BNPL providers to offer consumers the same legal protections as traditional credit cards—such as the ability to dispute charges and receive refunds for returned items.
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) announced a significant shift in its enforcement priorities, choosing not to prioritize actions related to Buy Now, Pay Later (BNPL) loans under the Truth in Lending (Regulation Z). This decision aligns with the CFPB’s broader strategic adjustments outlined last month, and discussed here, which emphasize focusing resources on more pressing consumer threats, particularly those affecting servicemen, veterans, and small businesses.
More than 40,000 people will receive a refund as a result of the Federal Trade Commission’s settlement with Cerebral, Inc, an online mental health service provider that allegedly billed consumers despite their requests to cancel their subscriptions.
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