The 2004 state legislative year is filled with issues of concern for the financial services industry. Privacy and identity theft issues, following on the heels of the passage of the federal Fair and Accurate Transaction Act, will once again be heard in the halls of the state capitols.

Additional issues include:

• Mortgage lending bills and amendments to previously-enacted mortgage lending statutes
• Mandatory arbitration
• Lienholder notification issues in auto financing auto dealer licensing/auction issues, Spanish and other language disclosures
• Anti-globalization / restrictions on international servicing centers
• Mortgage broker licensing
• Credit card interest calculation and disclosure requirements
• Telemarketing changes (affecting coverage and established business relationship definitions/requirements)
• Financial literacy in the classroom
• Retail installment/charges and rate limits

New regulations are under consideration in many states that passed or amended legislation last year. Many state legislatures are not in session this year, or have short sessions, and are conducting interim committee hearings on industry issues that will result in legislation in 2005.