New York Proposes Comprehensive Regulations for Buy Now, Pay Later Providers
The New York State Department of Financial Services (DFS) has proposed a new regulatory framework that would bring Buy Now, Pay Later (BNPL) providers under formal state oversight, marking one of the most comprehensive efforts to regulate the rapidly growing industry. Published on July 15, 2026, the proposed rule would implement state legislation requiring most BNPL providers operating in New York to obtain a state license and comply with consumer protection standards similar to those that
Hawaii Establishes Medical Debt Acquisition and Forgiveness Program
Hawaii Gov. Josh Green has signed Senate Bill 3025 into law, officially creating the Medical Debt Acquisition and Forgiveness Program. Administered by the Office of Wellness and Resilience within the Department of Human Services, the initiative establishes a process for eliminating qualifying medical debt for eligible Hawaii residents. Under the program, the state’s contracted nonprofit partner, Undue Medical Debt, purchases portfolios of medical debt directly from health care providers and collection agencies. Eligible individuals
House Financial Services Committee Advances Credit Reporting and Financial Services Bills
The House Financial Services Committee has advanced 10 bills to the full House of Representatives following a June markup hearing. Several of the measures focus on the Fair Credit Reporting Act (FCRA), credit reporting practices, and access to credit. Committee members debated the legislation largely along party lines, with discussions focusing on balancing consumer protections, regulatory oversight, and access to financial services. During the markup, Committee Chairman French Hill, R-Ark., stated that the legislation is intended
Washington, D.C. Medical Debt Legislation Advances Despite Mayor’s Concerns
Washington, D.C., Mayor Muriel Bowser has raised concerns about the City Council’s recently passed medical debt legislation, which would significantly change how medical debt is managed, reported and collected throughout the district. The D.C. City Council unanimously passed the Medical Debt Mitigation Amendment Act of 2025 (Bill 26-438) in June and sent the legislation to the mayor for approval. While Bowser expressed support for provisions intended to strengthen protections for patients, she returned
Rohit Chopra Sworn In to Lead California’s Business and Consumer Services Agency
Rohit Chopra has officially been sworn in as secretary of California’s newly established Business and Consumer Services Agency (BCSA), following his appointment by Governor Gavin Newsom in May. The BCSA includes the California Department of Financial Protection and Innovation (DFPI), which oversees licensed debt collectors in the state, along with several other regulatory agencies. In addition to the DFPI, the agency oversees the Department of Alcoholic Beverage Control, Alcoholic Beverage Control Appeals
Massachusetts Proposes Ban on Medical Debt Credit Reporting
The Massachusetts Department of Public Health (DPH) has proposed new regulations that would prohibit health care providers and third-party debt collectors from reporting medical debt to consumer credit reporting agencies. The proposal follows Gov. Maura Healey’s announcement during her 2026 State of the State Address, where a ban on medical debt credit reporting was identified as one of the administration’s key health care initiatives. The proposed regulations apply to two