Artificial intelligence has the potential to transform our economy, culture, politics, and civic lives. While the promise of intelligent, independent artificial intelligence systems has not yet materialized at scale,...more
On September 13, Tennessee Attorney General (AG) Jonathan Skrmetti sent a letter to members of the Net Zero Financial Service Providers Alliance (NZFSPA) warning that their commitment to support “global net zero greenhouse...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more
9/19/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Financial Protection Bureau v Community Financial Services Association of America Ltd ,
Consumer Lenders ,
Dodd-Frank ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Non-Fungible Tokens (NFTs) ,
Section 1071 ,
Securities and Exchange Commission (SEC) ,
Small Business
On September 8, the Federal Trade Commission’s (FTC) Chief Administrative Law Judge D. Michael Chappell issued an initial decision ruling that Intuit Inc. (Intuit) “engaged in deceptive advertising in violation of Section 5...more
9/18/2023
/ False Advertising ,
Federal Trade Commission (FTC) ,
FTC Act ,
Goods or Services ,
Intuit ,
Marketing ,
Regulatory Oversight ,
Section 5 ,
Statutory Violations ,
Tax Returns ,
TurboTax
On September 5, the attorney generals (AGs) of 54 U.S. states and territories called on Congress to address bad actors who generate child sexual abuse material (CSAM) using artificial technology (AI). Framing the issue as a...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more
9/12/2023
/ Bank Secrecy Act ,
BSA/AML ,
CFTC ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
OCC ,
Securities and Exchange Commission (SEC)
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
9/6/2023
/ Bitcoin ,
Blockchain ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Dodd-Frank ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Putative Class Actions ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
On August 11, Illinois Governor J.B. Pritzker signed House Bill 2222 (Public Act 103-0526) into law — bolstering Illinois’ antitrust prevention efforts by expanding the oversight purview of its Attorney General’s (AG) office...more
On July 25, Missouri, Arkansas, and Iowa (the states), along with intervenors American Water Works Association and National Rural Water Association (the water associations), petitioned the Eighth Circuit to review the U.S....more
On August 21, the U.S. Supreme Court denied a request by West Virginia Attorney General (AG) Patrick Morrisey and 26 other state AGs to participate in oral arguments in Consumer Financial Protection Bureau (CFPB) et al. v....more
8/30/2023
/ Amicus Briefs ,
CFPB v Community Financial Services Association of America ,
Constitutional Challenges ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Federal Funding ,
Federal Reserve ,
Financial Services Industry ,
Oral Argument ,
Payday Lending Rule ,
Regulatory Authority ,
Regulatory Oversight ,
SCOTUS ,
State Attorneys General
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
8/29/2023
/ Biden Administration ,
Borrowers ,
Central Bank Digital Currency (CBDCs) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
GAO ,
Non-Fungible Tokens (NFTs) ,
Securities and Exchange Commission (SEC)
In this episode of The Crypto Exchange, our host Ethan Ostroff joins his colleagues Chris Willis and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our team offers insights to the...more
On August 18, 2023, a New York Supreme Court judge has enjoined New York cannabis regulators from further processing, approving, or investigating any new or pending applications for a state conditional adult-use retail...more
8/24/2023
/ Agribusiness ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Dispensaries ,
Dormant Commerce Clause ,
Licensing Rules ,
Marijuana ,
Marijuana Related Businesses ,
Motion To Enjoin ,
New York ,
NY Supreme Court ,
Regulatory Oversight ,
Separation of Powers ,
State and Local Government ,
Veterans
Massachusetts Attorney General (AG) Andrea Joy Campbell announced the creation of a new Elder Justice Unit, which will use existing resources to protect and promote the safety and well-being of elders through enforcement...more
8/24/2023
/ Elder Abuse ,
Elder Care ,
Elder Issues ,
Exploitation ,
Fraud ,
Healthcare ,
Medicaid ,
Neglect ,
New Regulations ,
Regulatory Oversight ,
State Attorneys General ,
Vulnerable Victims
In this episode of The Consumer Finance Podcast, Troutman Pepper Partner Chris Willis is joined by colleagues Ethan Ostroff and Trey Smith to discuss the current landscape of cryptocurrency regulation and enforcement. Our...more
On August 16, a coalition of seven state attorneys general (AG) announced a settlement with participants alleged to be involved in a “massive” robocall operation. The stipulated order, which names Scott Shapiro, Michael T....more
Public water utilities and 3M have until August 28 to respond to the bipartisan coalition of 22 state attorneys general (AGs) that opposes their proposed $12.5 billion class action settlement over alleged per- and...more
8/23/2023
/ 3M Company ,
Class Action ,
Contamination ,
Environmental Policies ,
Motion To Intervene ,
Multidistrict Litigation ,
Omnibus Guidance ,
PFAS ,
Regulatory Oversight ,
State Attorneys General ,
Water Supplies
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
8/22/2023
/ Artificial Intelligence ,
CFTC ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Do Not Call List ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Futures Commission Merchants (FCMs) ,
National Futures Association ,
OCC
Connecticut Attorney General (AG) William Tong, along with Illinois, New Hampshire, and Tennessee AGs, jointly authored a letter to the Federal Trade Commission (FTC) urging improved collaboration with state AGs....more
In August, District of Columbia Attorney General (AG) Brian Schwalb issued a Supplemental Business Advisory (advisory) to provide guidance and examples to restaurants for complying with their legal obligation under the...more
On August 10, Michigan Attorney General (AG) Dana Nessel issued a press release to report the success of the new Unlicensed Builders Pretrial Diversion Program that was launched in February. AG Nessel launched the new program...more
On August 15, New York Attorney General (AG) Letitia James announced a settlement with Avis Budget Group Inc. (Avis Budget), for allegedly denying car rentals to customers who did not possess a credit card. Under the terms of...more
8/18/2023
/ Automobile Passengers ,
Automotive Industry ,
Car Rentals ,
Credit Cards ,
Employee Training ,
Enforcement Actions ,
Motor Vehicles ,
New York ,
Regulatory Oversight ,
Settlement ,
State Attorneys General
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more
8/15/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptoassets ,
Debt Collection ,
DIFC ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgages ,
New Regulations ,
OCC ,
Securities and Exchange Commission (SEC)
On August 7, California Attorney General Rob Bonta led a coalition of five state attorneys general (AGs) in filing an amicus letter concerning a proposed class action settlement between DuPont, Chemours, and Corteva, and...more
8/14/2023
/ Amicus Briefs ,
Class Action ,
Class Action Settlement ,
Contamination ,
Drinking Water ,
DuPont ,
Environmental Protection Act ,
Manufacturers ,
PFAS ,
Public Health ,
Regulatory Oversight ,
State Attorneys General
California Attorney General (AG) Rob Bonta is asking the Los Angeles County Superior Court to enter a civil forfeiture order allowing the state to collect unpaid taxes and fees from an unlicensed marijuana business by seizing...more