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Industry News:

·    Another Surprise in the One Big Beautiful Bill: Excise Tax on Remittances

·    CFPB files for summary judgment in open banking case

·    Powell taps DOJ inspector general as new watchdog for Fed, CFPB

·    CFPB Funding Sits in Crosshairs of Senate Committee’s Additions to ‘Big Beautiful Bill’

·    Warren will try to restore CFPB funding in GOP bill

·    New Fed Vice-Chair Bowman Sharpens Focus on ‘Core Financial Risks’

·    As feds resume student loan collections, states try to catch borrowers before they sink

·    Revolving Credit Jumped in April as Consumers Loaded Up on Card Debt

Legislative News:

·    California Senate chooses new leader, Sen. Monique Limón, first Latina to hold the role

·    State lawmakers, watchdog call for removal of A.I. moratorium and provision to weaken courts in “big beautiful bill”

·    California care buyers face a 488% higher fee under a bill the Senate just passed

·    Legislature repeals MinnesotaCare for undocumented adults

·    [Iowa] Governor signs Medicaid work requirements, Opioid Settlement Fund bills into law

·    Deal to pay for Chiefs, Royals stadiums fractures Missouri Freedom Caucus

·    Michigan hopes to limit foreign land ownership. In UP, it’s already too late

·    [Maryland] Despite efforts by lawmakers, energy bills are going up again. Here’s why.

·    NC House votes to appoint pension managers, allow state investment in crypto

·    Federal judge blocks Florida from enforcing social media ban for kids while lawsuit continues

·    Idaho Plans to Privatize Management of Medicaid

Election News:

·    Maine lawmakers push to expand ranked choice voting to governor’s race

·    Wyoming Legislature to consider abolishing property taxes through constitutional amendment

·    Virginia Democrats beat early primary voting record

·    Katherine Robertson to run for Alabama attorney general

·    Prohibiting Private Funding of Elections

·    Bipartisan deals on voting and election changes are rare. It just happened in one swing state

·    Federal vs. state power at issue in a hearing over Trump’s election overhaul executive order

Minnesota – H.F. 4 – Commerce finance and policy bill 

·    Author: Rep. Kaohly Her (D) 

·    Last timeline action: Passed third reading (06/09/2025) 

·    Bill text 

·    Bill website 

·    Bill summary: Sets the Department of Commerce and Office of Cannabis Management budgets for 2026-2027, appropriates funds for key consumer and financial programs, updates numerous statutes on financial institutions and insurance, creates a property insurance task force, imposes a one-time health carrier assessment for reinsurance, and enacts broad consumer protection and regulatory reforms; effective August 1, 2025. 

Minnesota – S.F. 4 – Omnibus Commerce and Consumer Protections policy and appropriations 

·    Author: Sen. Matt Klein (D) 

·    Last timeline action: First reading (06/09/2025) 

·    Bill text 

·    Bill website 

·    Bill summary: Sets the Department of Commerce and Office of Cannabis Management budgets for 2026-2027, appropriates funds for key consumer and financial programs, updates numerous statutes on financial institutions and insurance, creates a property insurance task force, imposes a one-time health carrier assessment for reinsurance, and enacts broad consumer protection and regulatory reforms; effective August 1, 2025. 

Hearings: 

Rhode Island – H.B. 5042 – An Act Relating To Financial Institutions -- Licensed Activities (Repeals The Provisions Of The General Laws Allowing Deferred Deposit Providers, Also Known As "Payday Lenders.") 

·    Hearing: June 10 at Rise of House in House Committee on Corporations 

·    Bill text 

·    Bill website 

17 States in Session:

·    Arizona, California, Delaware, Florida, Louisiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Vermont, and Wisconsin

2 States in Special Session:

·    Maine and Mississippi

Upcoming 2025 Session Adjournments:

·    June 12 - Louisiana

·    June 13 - New York

·    June 18 - Maine

·    June 30 - Delaware, New Hampshire, Oregon, and Rhode Island

·    July 31 - North Carolina

31 Past 2025 Session Adjournments:

·    Alabama, Alaska, Arkansas, Colorado, Connecticut, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming

Past 2025 Introduction Deadlines:

·    Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Montana, New Mexico, North Dakota, South Dakota, Texas, Vermont, West Virginia, and Wyoming

Past 2025 Crossover Deadlines:

·    Alaska, Colorado, Hawaii, Illinois, Maryland, Mississippi, Montana, North Dakota, South Dakota, Texas, Utah, West Virginia, and Wyoming