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Connecticut moves to regulate EWA

Payments Dive

The state is instituting new lending regulations that are likely to apply to some earned wage access providers starting next month.

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Connecticut poised To become fifth state to enact privacy law

CFPB Monitor

Connecticut is the next in a growing list of states to pass comprehensive data privacy legislation. Last Friday, the Connecticut legislature passed, by large margins, Senate Bill 6 — which we are referring to as the Connecticut Data Privacy Act (CTDPA). The law now awaits the Governor’s signature. Conclusion.

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Connecticut AG Launches Antitrust Probe Into Amazon’s eBook Business

PYMNTS

Connecticut Attorney General William Tong is launching an antitrust probe into how Amazon runs its eBook business, the Wall Street Journal (WSJ) reported on Thursday (Jan. Connecticut’s inquiry is just the latest antitrust probe by several state and federal authorities into how Amazon conducts its business.

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Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license

CFPB Monitor

The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. Some Connecticut borrowers were assessed a late fee equal to 15% of the principal loan amount, which was generally split equally between the lender and SoLo.

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Connecticut enacts significant changes to Small Loan Act

CFPB Monitor

Under the current law, the APR is calculated under the provisions of the federal Truth-in-Lending Act and associated regulations. . The primary changes are as follows: New APR calculation (Section 1, subdivision (2), Revising 36a-555(2)). Continue Reading

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Connecticut Department of Banking Issues Order Establishing Remote Office Locations on a Permanent Basis

CFPB Monitor

The order applies to individuals working on behalf of persons licensed in Connecticut as: Consumer collection agencies; Debt adjusters; Debt negotiators; Mortgage brokers, mortgage correspondent lenders or mortgage lenders; Mortgage servicers; Sales finance companies; Small loan companies; and.

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New York Raises Check Cashing Fees

Perficient

of New York State’s Superintendent’s Regulations which provides for an annual fee adjustment, based upon the increase in the consumer price index (CPI) of the New York – Northern New Jersey – Long Island, NY – NJ-CT-PA area for all urban consumers. According to New Jersey Check Cashing Regulation 3:24-4.1, 90, whichever is greater.

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