Illinois Expands Regulatory Reach with Sweeping BNPL Licensing Law
Competition Policy Institute
Illinois has enacted one of the nation’s broadest state regulatory frameworks for BNPL providers, adopting a law that extends well beyond traditional lenders to capture a wide range of companies participating in the BNPL ecosystem.
Gov. J.B. Pritzker on June 25 signed the Buy-Now-Pay-Later Loan Consumer Protection Act, creating a comprehensive licensing, supervisory and enforcement regime for BNPL providers operating in the state. The law takes effect Jan. 1, 2028, unless state regulators establish a later implementation date through rulemaking…
Read MoreNew York State Department of Financial Services Builds on Nation-Leading Stablecoin Framework in New Proposed Regulation
New York State Department of Financial Services
Following the Federal GENIUS Act, DFS Harmonizes its Long-Standing Guidance on Issuance of U.S. Dollar-Backed Stablecoins with New Federal Requirements
New York State DFS Acting Superintendent Kaitlin Asrow today announced a proposed regulation to build on New York’s first-in-the-nation stablecoin framework in accordance with federal regulations under the GENIUS Act. Following the Department’s groundbreaking June 2022 guidance, this regulation contains additional provisions to ensure alignment…
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New Hampshire Executive Council Narrowly Rejects Landmark Bitcoin Bond Deal
Kevin Landrigan, Published in Yahoo Finance
Citing concerns over potential harm to the state’s financial reputation, the Executive Council narrowly rejected making New Hampshire the first state to approve a revenue bond for an institutional investment firm to buy $100 million of Bitcoin.
The vote was 3-2 with Councilors David Wheeler, R-Milford, Karen Liot Hill, D-Lebanon, and Janet Stevens, R-Rye, in opposition; Councilors John Stephen, D-Manchester, and Joe Kenney, R-Wakefield, had supported it…
Read MorePODCAST: Jeremy Empol Takes the Reins at California's Credit Unions & Nevada's Credit Unions
Natasha Chilingerian, Credit Union Times
There’s a new league CEO in town …
Jeremy Empol, who took the helm at California’s Credit Unions and Nevada’s Credit Unions in March, replacing Scott Simpson, who now serves as president/CEO for America’s Credit Unions. Empol is stoked about having returned to “the League,” as he still affectionately calls it, where he served as SVP of Federal Government Affairs for 16 years before departing for a briefer stint at the Federal Home Loan Bank of San Francisco…
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