
Facts & Statistics
STATE STATISTICS | |
Population 2023 | 7,001,339 |
Population 2022 |
6,981,974 |
Population 2021 | 6,989,690 |
Population 2020 |
6,893,574 |
Population 2019 | 6,894,883 |
Population 2018 |
6,902,149 |
Population 2017 | 6,863,246 |
Population 2016 | 6,826,022 |
Below Poverty 2022 | 10.4 |
Below Poverty 2021 | 10.4 |
Below Poverty 2020 | 9.8 |
Below Poverty 2019 | 9.4 |
Below Poverty 2018 | 8.7 |
Below Poverty 2017 | 10.5 |
Below Poverty 2016 | 10.4 |
Employment – Population Ratio 2022 |
65.8 |
Employment – Population Ratio 2021 | 65.2 |
Employment – Population Ratio 2020 | 65.9 |
Employment – Population Ratio 2019 | 65.8 |
Employment – Population Ratio 2018 |
65.3 |
Employment – Population Ratio 2017 | 63.7 |
Employment – Population Ratio 2016 | 62.6 |
Unemployed 2022 | 4.8 |
Unemployed 2021 | 7.1 |
Unemployed 2020 | 7.4 |
Unemployed 2019 | 3 |
Unemployed 2018 | 3.3 |
Unemployed 2017 | 3.8 |
Unemployed 2016 | 3.9 |
Foreclosure Rate 2024 | 1 in 2,268 |
Foreclosure Rate 2021 | 1 in 1,535 |
Foreclosure Rate 2018 | 1 of 2,396 |
Median Household Income 2021 | 86,556 |
Median Individual Income 2022 | 75,077 |
High School Graduation Rate 2022 | 90.1 |
High School Graduation Rate 2021 | 89.8 |
High School Graduation Rate 2020 | 89 |
High School Graduation Rate 2019 | 88 |
High School Graduation Rate 2018 | 87.8 |
Median Mortgage Payment 2021 | 2,323 |
GDP 2023 | 615.15 Billion |
GDP 2022 | 604.34 Billion |
GDP 2021 | 591.91 Billion |
GDP 2020 | 556.12 Billion |
GDP 2019 | 566.71 Billion |
GDP 2018 | 549.26 Billion |
STATE FACTS |
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In 1780, Massachusetts was the first state to write and adopt a constitution, which served as a model for the U.S. Constitution. |
Boston built the first subway system in the United States in 1897. |
Boston Common became the first public park in America in 1634 . |
Government
ELECTED OFFICIALS | |
Governor |
Maura Healey (D) |
Lieutenant Governor | Kim Driscoll (D) |
Attorney General | Andrea Campbell (D) |
Secretary of the Commonwealth | Bill Galvin (D) |
State Senate Control | D – 36; R – 4 |
State House Control | D – 132; R – 25; I – 1 |
Legislative Process
LEGISLATIVE DATES AND DEADLINES | |
Convenes | January 1, 2025 |
Sine Die Adjournment | November 19, 2025 |
Committee Action Deadlines | N/A |
Crossover Deadline | None |
Carryover from Previous Session | No |
Governor’s Signing Deadline (in session) | 10 days |
Governor’s Signing Deadline (after adjournment) | 10 days |
Veto Override | 2/3 majority |
Legislation Effective Date | 90 days after enactment |
Notable Laws & Legislation
SAFE Act
- MA HB 4178 (now Mass. Gen. Laws. Part III, Title IV, c. 255F)
- HUD review of Massachusetts’s SAFE Act
Security Breach Notification Law
Retail Installment Sales Contract Law
Negative Equity Licensing Bills
AFSA Comment Letters
- Massachusetts Junk Fee Regulations (December 20, 2023)
- Massachusetts HB 2 – Real Time Sales Tax Remittance Joint Comment Letter (March 2, 2020)
- Massachusetts SB 554 – Licensing (September 11, 2019)
- Massachusetts HB 220 – Negative Equity (May 10, 2019)
- Massachusetts H 4806 – Security Breaches (July 30, 2018)
- Massachusetts Division of Banks small loan license for negative equity (May 15, 2018)
- Massachusetts proposed amendments to the Rules of Civil Procedure regarding credit card debts (February 28, 2017)
- Massachusetts debt collection statutory and regulatory framework (October 21, 2016)
- Massachusetts Division of Banks Regulation Review (August 21, 2015)
- Massachusetts S.2141 Automated License Plate Reader Systems (May 21, 2014)
AFSA Testimonies
- Massachusetts S 45 Testimony – Privacy and GLBA Exemption (April 9, 2025)
Enforcement
No Recent AG Enforcement
Consumer Complaints
Regulatory Actions
Featured Regulations
- Massachusetts AG – Junk Fee Regulations (Effective September 2, 2025)
Regulatory Guidelines
- No Regulatory Guidelines
Guidance
Industry Letters
- MA DOB Reply Letter to AFSA re: Small Loan Licenses (May 2018)
- AFSA Letter to MA DOB re: Small Loan Licenses (May 2018)
- MA – Unlicensed Motor Vehicle Sales Finance Companies
- MA DOB – Licensing Requirements for Motor Vehicle Leasing Companies
- MA Industry Letter Cyber-security Assessment Tool (September 2015)
Opinions
- MA DOB Opinion 17-003 re: Small Loan Licenses (January 2018)
- MA DOB Opinion 13-022 re: Small Loan Licenses (January 2014)
- MA DOB Opinion 13-018w Attorney Collection Licensing (April 2016)
- MA COB Bulletin 03-133 GAP
- MA DOB Opinion 01-097 Interest Rates Applicable to Installment Loans
- MA DOB Opinion 03-127 Doc Prep Fees (August 2004)
- MA DOB Opinion 99-111 Extended Warranties Indirect Financing
- MA_Opinion 13-022 Sm ln Negative Equity Redacted
Advocacy, Initiatives & Reports
Advocacy
- 33 States Amicus Brief re: Telephone Consumer Protection Act (March 2020)
- 23 State & DC Letter to FDIC re: “Rent-A-Bank” Predatory Lending (February 2020)
- 25 State & DC Letter to Education Department re: Student Loan Debt Relief (February 2020)
- 23 State & DC Amicus Brief re: Constitutionality of CFPB (January 2020)
- 21 State & DC Letter to OCC re: “Rent-A-Bank” Predatory Lending (January 2020)
- 19 State & DC Letter to Congress re: Education Department Borrower Defense Rule (January 2020)
- 20 State & DC Amicus Brief re: Public Student Loan Forgiveness (November 2019)
- 22 State Letter to Education Department re: Student Loan Forgiveness (November 2019)
- 21 State & DC Letter to HUD re: Housing Discrimination (October 2019)
- 29 State & DC Letter to Education Department re: Student Loan Fraud (October 2019)
- 12 State & DC Letter to CFPB re: Home Mortgage Disclosure Act (October 2019)*
- 20 State & DC Letter to Congress re: Cannabis Banking (September 2019)
- 27 State & DC Letter to CFPB re: Debt Collection Rule (September 2019)
- 31 States & DC Amicus Brief re: Student Loans (August 2019)
- 50 States & DC Letter to FCC re: Robocalls (August 2019)
- 24 States & DC Letter to CFPB re: Overdraft Rule (July 2019)
- 40 States & DC Letter to FTC re: Data Privacy (June 2019)
- 50 States & DC Letter to Education Department re: Student Loans for Disabled Veterans (May 2019)
- 24 States & DC Letter to CFPB re: Payday Rule (May 2019)
- 33 States & DC Letter to Congress re: Marijuana Banking (May 2019)
- 41 States & DC Letter to FCC re: Robocalls (May 2019)
- 20 States & DC letter to Education Department re: Student Loan Disclosure to Law Enforcement (April 2019)
- 24 State & DC Letter to CFPB re: Payday Lending Rule (March 2019)
- 50 States & DC Letter to U.S. Senate Committee on Commerce, Science & Transportation re: Robocalls (March 2019)
- 30 States & DC Letter to FTC re: Identity Theft Rule (February 2019)
- 22 State AGs Letter to CFPB re: Regulatory Sandbox (February 2019)
- 14 State AGs Letter to FDIC re: Small-Dollar Lending (January 2019)
- 15 State AGs Amicus Brief re: Tribal Immunity for Payday Lending (December 2018)
- 14 State AGs Letter to Office of the Comptroller of the Currency re: Community Reinvestment Act (November 2018)
- 21 State AGs Letter to Department of Education re: closed-school loan discharge regulations (October 2018)
- 33 State AGs Letter to CFPB re: Military Lending Act (October 2018)
- 17 State AGs Letter to HUD re: Affirmatively Furthering Fair Housing rule (October 2018)
- 8 State AGs Amicus Brief re: Student Loan Debt Relief (October 2018)
- 12 State AGs Letter to CFPB re: proposed revisions to disclosure sandbox program (October 2018)
- 35 State AGs Letter to Federal Communications Commission (FCC) re: Robocalls (October 2018)
- 16 State AGs Amicus Brief re: States’ Oversight on Student Loan Servicers (September 2018)
- 14 State AGs Letter urging CFPB to continue enforcing the Equal Credit Opportunity Act’s disparate impact liability provision (September 2018)
- 17 State AGs Letter urging HUD not to undermine the Agency’s Fair Housing Act (FHA) disparate impact regulations (August 2018)
- 20 State AGs Letter urging Secretary of Education to share student loan information with law enforcement (July 2018)
- 20 State AGs Letter to Congress opposing valid-when-made legislation
- 14 State AGs Letter urging CFPB to retain public database of consumer complaints (June 2018)
- 20 State AGs Letter to Congress regarding proposed FDCPA admendment (April 2018)
- 32 AGs Letter urging Congress to preserve state’s authority to enforce data breach & security laws (March 2018)
- 30 AGs Letter to Congress urging it to reject legislation that would block state oversight of student loan servicing industry (March 2018)
- 20 State AGs Letter to Education Secretary re student borrower defense proposal (March 2018)
- 16 State & DC AGs brief calling on Trump Admin. to respect CFPB independence (February 2018)
- 18 State AGs urge Congress to incorporate cannabis industry into banking system (January 2018)
- 16 State AGs Letter to President re CFPB (December 2017)
- Lawsuit opposing temporary CFPB director (December 2017)
- MA Assistant AG Testimony before the U.S. House Financial Services Committee re Major Data Breach (October 2017)
- 36 State AGs Letter – Credit Freeze Fees (October 2017)
- 8 State AGs Letter Supporting CFPB Proposed Small-Dollar Rule (October 2016)
- 18 States Letter to CFPB – Proposed Arbitration Rule (August 2016)
- 9 State AGs & DC Joint Letter to Financial Corporation CEOs – Chip and PIN Technology (November 2015)
- MA AG Testimony in Support of the Family Financial Protection Act (October 2015)
- MA AG Letter to Congress on Data Security and Breach Notification Act of 2015 (March 2015)
- 31 State AGs Letter to CFPB – Debt Collection Rules (March 2014)*
Initiatives
Reports
Trade Associations
There are currently no partner industry associations in Massachusetts