In 2023, the digital asset industry demonstrated remarkable resilience amidst significant challenges, including the dissolution of several digital asset financial services companies, numerous bank failures, and a $4.7 billion...more
4/23/2024
/ Banks ,
Blockchain ,
Consumer Financial Products ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
OCC ,
Policy Statement ,
Smart Contracts ,
U.S. Treasury
On April 12, New York Attorney General (AG) Letitia James announced that her office has reached a settlement with Northwell Health, New York’s largest health care network, related to allegations of misleading billing...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
4/17/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Digital Assets ,
FDCPA ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
IRS ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
Recently, a matter involving the North Carolina Attorney General (AG) Josh Stein made headlines when it was announced that Affiliated Monitors Inc. would take over monitorship of HCA Healthcare. This relates to HCA’s...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
4/10/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Customer Identification Program (CIP) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgages ,
Proposed Rules ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
On December 22, 2023, the National Defense Authorization Act for Fiscal Year 2024, Pub. L. No. 118-31, 137 Stat. 136 (2023) (NDAA 2024) went into effect. Among other things, NDAA 2024 includes a provision phasing out...more
4/10/2024
/ Federal Contractors ,
HUBZone ,
NDAA ,
Prime Contractor ,
Regulatory Requirements ,
SBA ,
SDVOSB ,
Self-Certification ,
Set-Aside Contracts ,
Small Business ,
Veterans
Texas Attorney General (AG) Ken Paxton has announced an investigation into Boeing supplier, Spirit Aerosystems, for alleged manufacturing defects, which are believed to have caused various “concerning incidents, some of which...more
North Carolina Attorney General Josh Stein led a bipartisan coalition of eight state AGs, including Arkansas, Indiana, Michigan, Missouri, North Dakota, Ohio, and Texas, in requesting the District Court in the Southern...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
4/3/2024
/ Bank Merger Act ,
CFTC ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Debt Collection ,
Department of Justice (DOJ) ,
FDIC ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Late Fees ,
OCC ,
Regulatory Agenda
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
3/27/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptoassets ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Student Loans ,
Unfair or Deceptive Trade Practices
California Attorney General (AG) Rob Bonta and the California Air Resources Board (the Board) have reached a $46 million agreement with engine manufacturer Cummins Inc. to settle alleged violations of California’s engine...more
3/26/2024
/ Air Pollution ,
Automotive Industry ,
California ,
California Air Resources Board ,
Carbon Emissions ,
Certification Requirements ,
Civil Monetary Penalty ,
Clean Air Act ,
Enforcement Actions ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Environmental Violations ,
Motor Vehicles ,
Settlement ,
State and Local Government ,
State Attorneys General
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
3/20/2024
/ Artificial Intelligence ,
California Privacy Protection Agency (CPPA) ,
Community Reinvestment Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collectors ,
Department of Financial Protection and Innovation (DFPI) ,
FDCPA ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulatory Agenda ,
Risk Management ,
Securities and Exchange Commission (SEC)
New York Attorney General (AG) Letitia James is suing JBS USA Food Company and JBS USA Food Company Holdings under New York’s consumer protection laws for allegedly attempting to boost consumer sales by making sustainability...more
3/19/2024
/ Climate Change ,
False Advertising ,
Greenhouse Gas Emissions ,
Greenwashing ,
Meat Processing Plants ,
NAD ,
Net Zero ,
New York ,
Regulatory Oversight ,
State and Local Government ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
New Jersey Attorney General (AG) Matthew J. Platkin and the Division of Consumer Affairs (Division) took action against the popular dating app company, Bumble, Inc., for alleged violations of the state’s consumer protection...more
New York Attorney General (AG) Letitia James filed a lawsuit on March 5 against Yellowstone Capital, its founder David Glass, and a network of 30 other affiliated companies and individuals. James alleges that Yellowstone...more
3/15/2024
/ Consumer Financial Products ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Fraud ,
Financial Services Industry ,
Loans ,
Merchant Cash Advance (MCA) ,
New York ,
Predatory Lending ,
Restitution ,
Settlement ,
Small Business Loans ,
State and Local Government ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
As we look ahead to 2024, significant changes are underway in state attorney general (AG) elections, with 10 AGs facing reelection due to incumbents pursuing other offices or opting out. Open seats in North Carolina, Oregon,...more
The U.S. General Service Administration (GSA) proposed an amendment to the General Services Acquisition Regulation (GSAR) aimed at reducing single-use plastic packaging. Specifically, the proposed amendment allows suppliers...more
3/13/2024
/ Climate Action Plan ,
General Services Administration (GSA) ,
Goods or Services ,
GSAR ,
Incentives ,
Manufacturers ,
Plastic Bag Bans ,
Proposed Amendments ,
Proposed Rules ,
Regulatory Oversight ,
State Attorneys General ,
Suppliers ,
Sustainable Business Practices
On February 29, the state of Montana, supported by seven other states, filed an amicus brief arguing that the Securities and Exchange Commission (SEC) lacks authority to regulate crypto assets. The attorneys general (AG)...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
3/5/2024
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Executive Orders ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
NYDFS ,
OCC
In a recent speech at Oxford University, U.S. Deputy Attorney General (AG) Lisa Monaco announced that the U.S. Department of Justice (DOJ) will now seek stiffer penalties for crimes involving, and aided by, artificial...more
California Attorney General (AG) Rob Bonta and Assembly Speaker Pro Tempore Jim Wood have introduced new legislation addressing private equity health care deals. The bill, A.B. 3129, would grant the AG oversight over private...more
2/28/2024
/ Acquisition Agreements ,
Anticompetitive Behavior ,
Antitrust Provisions ,
California ,
Healthcare ,
Healthcare Facilities ,
Hedge Funds ,
New Legislation ,
Private Equity ,
Regulatory Oversight ,
Regulatory Reform ,
State Attorneys General
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
2/27/2024
/ Bank Secrecy Act ,
Banks ,
Bitcoin ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Digital Assets ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Non-Fungible Tokens (NFTs) ,
Overdraft Fees ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
State Attorneys General
In February 2018, Ohio become the first state to sue DuPont alleging that the company had released perfluorooctanoic acid (PFOA) into the environment. Since then, multiple state attorneys general (AG) have continued to weigh...more
2/27/2024
/ 3M Company ,
Contamination ,
Drinking Water ,
DuPont ,
Environmental Liability ,
Environmental Policies ,
Environmental Protection Agency (EPA) ,
Hazardous Waste ,
PFAS ,
Proposed Rules ,
Public Health ,
State Attorneys General ,
Toxic Chemicals
On February 14, Massachusetts Attorney General (AG) Andrea Joy Campbell filed a civil lawsuit against Holtec Decommissioning International LLC and its affiliate Holtec Pilgrim LLC (Holtec), alleging the improper handling of...more