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State News

The annual dollar amount adjustments under the Indiana Consumer Credit Code (IUCCC) have been published and the new amounts will go into effect January 1, 2023.

The state of Virginia has amended several of its real estate provisions, including those relating to mortgage brokers, the misuse of the power of attorney, and residential property disclosures pursuant to House Bill 1153 effective July 1, 2022.

The New York Department of Financial Services has issued Guidance with the purpose of alerting Institutions that the Department will evaluate whether Institutions are engaged in deceptive or unfair practices with respect to overdraft and NSF fees in future Consumer Compliance and Fair Lending examinations.

Rhode Island has amended law provisions on notarial acts to allow for remote notarizations with House Bill 7363.

On July 8, 2022, Gov. Roy Cooper signed House Bill 776, which revived the emergency remote notarization statute (N.C. Gen. Stat. 10B-25) through June 30, 2023, and concurrently enacted an entirely new and permanent remote notarization law (N.C. Gen. Stat. 10B-134 et seq.).

This bill, recommended by the General Statutes Commission, would allow judicial sales and execution sales to be postponed up to 90 days, aligning the postponement authority for judicial and execution sales with that of sales under a contractual power of sale clause.

The Kansas Secretary of State adopted temporary rules relating to electronic notarization. These provisions are effective immediately.

The Finance Commission of Texas and the Texas Credit Union Commission ("commissions") adopts amendments to §153.1 (relating to Definitions) in 7 TAC, Chapter 153, concerning Home Equity Lending.

Dollar amounts indexed in the Regulated Loan Act, Minnesota Statutes, Chapter 56, and the Minnesota Consumer Credit Code, Minnesota Statutes, Section 47.59, will increase effective July 1, 2022.

The Final Rule implementing South Carolina's Electronic Notary Public Act were published in the South Carolina Register on June 24, 2022, effective immediately.

The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule affirming states’ abilities to protect their residents with limited preemption by implementing their own fair credit reporting laws that are stricter than the federal Fair Credit Reporting Act (FCRA).

Ballard Sparh LLP Consumer Finance Monitor - Michael R. Guerrero & Peng Shao

The California Department of Financial Protection and Innovation (DFPI) has proposed regulations pertaining to consumer complaints and inquiries under the California Consumer Financial Protection Law (CCFP).