On July 6, the Consumer Financial Protection Bureau (CFPB or Bureau) released its 2026 regulatory agenda, outlining its planned rulemaking initiatives across the pre-rule, proposed rule, and final rule stages. The agenda reflects the Bureau’s continued shift under the current administration toward deregulation, regulatory streamlining, and reconsideration of rules issued under prior leadership.
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.
On July 1, the Federal Trade Commission (FTC) published a proposed policy statement addressing whether AI companies that steer their systems’ outputs toward undisclosed ideological objectives, rather than toward the objectives that consumers request or reasonably expect, may be engaging in deceptive acts or practices in violation of § 5 of the FTC Act. The public comment period closes July 31, 2026.
On June 25, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking that would significantly update and clarify its regulations governing the disclosure of confidential information, including confidential supervisory information. This is the first substantial revision to these rules in approximately 30 years. The proposal would amend 12 CFR Part 309 and add a new Part 306, with changes designed to reduce administrative burden, expand the ability of insured depository institutions (IDIs) to share confidential supervisory information without prior FDIC approval, and modernize and clarify the FDIC’s information disclosure framework. Comments on the proposed rule are due 60 days after publication in the Federal Register.
Louisiana and Massachusetts have each recently issued guidance addressing motor vehicle dealer advertising practices, particularly around the disclosure of fees in advertised vehicle prices. Both actions follow the Federal Trade Commission’s March 13, 2026 “Notorious 97” warning letters to auto dealership groups nationwide (discussed here) and reflect ongoing efforts at the state and federal level to ensure that advertised prices accurately reflect the total cost consumers will be required to pay.
The New York City Department of Consumer and Worker Protection (DCWP) recently published new compliance resources for its amended debt collection regulations, known as the SHIELD Rule, which are scheduled to take effect on September 1, 2026.
On June 16, Vermont Governor Phil Scott signed H.648, a wide‑ranging financial services bill that, among other changes, brings sales‑based financing and certain factoring arrangements squarely within the state’s regulated financial services framework. The sales‑based financing provisions were added late in the process, borrowing heavily from the most controversial elements of Texas’s 2025 HB 700 (discussed here) and other state commercial financing disclosure laws, and layering Vermont‑specific requirements on top of existing licensed lender rules. The commercial financing portions of the law are to take effect July 1, 2027.
On June 17, the Consumer Financial Protection Bureau (CFPB or Bureau) officially rescinded its December 2020 advisory opinion on special purpose credit programs (SPCPs) under Regulation B, which implements the Equal Credit Opportunity Act (ECOA). The rescission aligns with the Bureau’s recent views on SPCPs, including those expressed in the Bureau’s April 2026 final rule amending the SPCP provisions of Regulation B (the Final Rule) (discussed here).
As we have previously reported, the litigation over the attempted shutdown of the Consumer Financial Protection Bureau (CFPB or Bureau) has continued to move quickly through the courts. By way of background, the D.C. district court had granted a preliminary injunction requiring the CFPB to reverse its shutdown efforts, reinstate its workforce, and continue performing its statutory duties, finding that Acting Director Russell Vought’s actions were inconsistent with the Bureau’s statutory obligations under Title X of the Dodd-Frank Act. In our August 2025 post, we covered the D.C. Circuit panel’s decision vacating that preliminary injunction, holding that most of the National Treasury Employees Union’s (NTEU) claims belonged in the Civil Service Reform Act regime and that the remaining claims did not target reviewable final agency action. In our December 2025 post, we reported on the full court’s decision to grant rehearing en banc, vacate the panel’s judgment, and set an expedited briefing schedule. With the panel decision vacated, the en banc court took up the case with the partial stay continuing to govern the parties’ conduct in the interim.
On June 2, Louisiana Governor Jeff Landry signed SB 254 into law as Act 751, prohibiting retail businesses from imposing surcharges on customers who pay with a debit card. The law takes effect August 1, 2026.