In this third installment of the special series on servicemember protections, Chris Willis is joined by colleagues Taylor Gess and Jeremy Sairsingh to explore the non-pricing protections under the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA).
On June 25, Illinois Governor JB Pritzker signed into law the Buy-Now-Pay-Later Loan Consumer Protection Act, establishing a licensing and regulatory framework for buy-now-pay-later (BNPL) lenders operating in Illinois. The Act, which the legislature passed unanimously, took effect immediately upon becoming law, though compliance is not required until January 1, 2028.
In this second installment of the special series on servicemember protections, Chris Willis is joined again by colleagues Taylor Gess and Jeremy Sairsingh to explore how the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA) impose pricing restrictions that are far more complex than a standard state usury cap, and why that complexity must be accounted for at the product design stage.
In this kickoff episode of a special series on servicemember protections for The Consumer Finance Podcast, Chris Willis is joined by colleagues Taylor Gess and Jeremy Sairsingh to unpack the fundamentals of the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA) — two laws that remain top enforcement priorities for federal regulators. They explain how these laws are rooted in military readiness and national security, and why that history matters for how regulators, courts, and the Department of Justice view compliance in the consumer credit space today.
On May 6, several Senate Democrats sent letters to three nationwide consumer reporting agencies (CRAs) requesting detailed information about how Buy Now, Pay Later (BNPL) loans are being handled in consumer reporting. The letters, led by Senator Elizabeth Warren (D‑MA), follow a prior set of information requests made in November 2025 to BNPL providers about whether and how they furnish BNPL data to CRAs.
On February 23, the New York Department of Financial Services (DFS) issued a proposed new Part 423 to Title 3 of the NYCRR to implement New York Banking Law Article 14‑B for Buy-Now-Pay-Later (BNPL) lenders. The proposal would move BNPL firmly into New York’s credit system, imposing licensing, supervision, disclosure, data privacy, and underwriting requirements on both interest‑free and interest‑bearing BNPL products offered to New York consumers. If adopted, the rule would take effect 180 days after the notice of adoption is published in the State Register, with a short transitional period for existing BNPL providers. DFS is accepting pre-proposal comments through March 5, 2026, after which the proposed rule will be published in the New York state register for a formal 60-day comment period.
In this special joint episode of The Consumer Finance Podcast and Payments Pros, guest host Taylor Gess talks to Troutman Pepper Locke colleagues Stefanie Jackman, Caleb Rosenberg, and Jeremy Sairsingh about student lending and income share agreements (ISAs). They highlight the “One Big Beautiful Bill” and its sweeping overhaul of federal student loan repayment options and borrowing caps, break down differences between ISAs and traditional loans, and explain why state lawmakers and regulators are increasingly focused on these products. The episode also includes practical takeaways on licensing, servicing, and the potential future of credit reporting for private student loans and ISAs, offering industry participants a roadmap for navigating both federal and state-level changes.
In this crossover episode of Payments Pros and The Consumer Finance Podcast, guest host Taylor Gess is joined by Jason Cover and Jeremy Sairsingh to discuss buy now, pay later (BNPL) products as they continue to dive into the Point-of-Sale Finance Series. They highlight the complexities of BNPL offerings and the transformation of these payment models with varying fee structures and repayment terms. As these BNPL products mature, they challenge traditional definitions and regulatory frameworks, prompting a closer look at how consumers and providers are adapting to this financing option and its effects. With continuous industry innovations, regulators are working to keep pace, raising questions about the future direction of BNPL regulation and its impact.
In this insightful crossover episode of The Consumer Finance Podcast and Payments Pros, host Jason Cover is joined by Mark Furletti and Jeremy Sairsingh to delve into the intricate world of credit card rewards programs. Discover the various types of rewards, from points-based systems to cashback and travel miles, and learn how these programs are funded. The episode also explores regulatory perspectives, including recent CFPB guidance and state-specific laws affecting rewards programs.
In this crossover episode of The Consumer Finance Podcast and Payments Pros, Jason Cover is joined by Mark Furletti, Taylor Gess, and Jeremy Sairsingh to discuss the intricate world of credit cards. Whether plastic, metal, or digital, credit cards have significantly evolved over time, along with their regulations. This episode examines the historical roots, modern functionalities, and the regulatory landscape that governs credit cards. Discover how innovations like buy now, pay later models are reshaping consumer credit, and gain insights into the future of credit card regulation.