News & Analysis as of

State Attorneys General Financial Institutions

Cozen O'Connor

State AGs Are Stepping Up — Is Your Bank Ready for Multistate Scrutiny?

Cozen O'Connor on

The CFPB has scaled back some enforcement priorities, and the states have noticed. Certain states – including California, New York, Texas, and Connecticut – are particularly active, pursuing UDAP violations, privacy issues,...more

Cozen O'Connor

AGs Clash over EPA Rollbacks, Net-Zero Standards

Cozen O'Connor on

Illinois AG Kwame Raoul co-led a coalition of 17 Democratic AGs, the city of Chicago, New York City, and the California Air Resources Board, in filing comments opposing the EPA’s proposal to repeal the 2024 Mercury and Air...more

Troutman Pepper Locke

Bipartisan State AGs Urge Congress to Grant Access to Federally Regulated Banking and Financial Services to State-Regulated...

Troutman Pepper Locke on

In July 2025, a bipartisan coalition of 32 state and territorial attorneys general (AG) sent a letter to Congressional leaders urging the passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act. Their letter...more

Cozen O'Connor

Bipartisan Coalition of AGs Bank on SAFER Cannabis Reform

Cozen O'Connor on

A bipartisan coalition of state and territorial AGs sent a letter to Congress urging the passage of the SAFER Banking Act of 2025, which would create federal safe harbor protections for financial institutions that serve...more

Fox Rothschild LLP

Thirty-two Attorneys General Press Congress to Finally Pass the SAFER Banking Act to Protect Cannabis Businesses and Communities

Fox Rothschild LLP on

The cannabis industry continues to face a fundamental challenge: access to the regulated banking system. Despite legalization (adult use and/or medical) in dozens of states, cannabis remains federally illegal, leaving...more

Vedder Price

Florida AG Investigation Is Latest Reminder of Risk Tied to Green Initiatives

Vedder Price on

Florida’s Attorney General announced an investigation on July 28, 2025 into whether the CDP (formerly known as the Climate Disclosure Project) and the Science Based Targets Initiative (SBTi) have violated consumer protection...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 29, 2025)

Wiley Rein LLP on

FTC Obtains Temporary Restraining Order and Asset Freeze Against Seven Debt Relief Companies and Their Owners for Allegedly Deceptive Practices. On July 14, the FTC filed a complaint and motion for temporary restraining order...more

Sheppard Mullin Richter & Hampton LLP

CFPB Withdraws Rule to Eliminate State Enforcement Notification Requirements

On July 21, the CFPB withdrew its plan to repeal rules that provide procedures for state officials to notify the Bureau before initiating enforcement actions under the Consumer Financial Protection Act (CFPA). The CFPB cited...more

Cozen O'Connor

Missouri AG Investigates Proxy Advisors Over ESG and DEI Practices

Cozen O'Connor on

Missouri AG Andrew Bailey announced that his office is investigating and has filed parallel lawsuits against Glass, Lewis & Co. (“Glass Lewis”) and Institutional Shareholder Services (“ISS”), two major corporate proxy...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 15, 2025)

Wiley Rein LLP on

FTC Sends Warning Letters Regarding Potential Noncompliance With “Made in USA” Requirements. On July 8, the FTC sent letters to a flagpole retailer, footwear maker, football equipment company, and personal care products...more

BakerHostetler

Weekly Blockchain Blog - June 2025 #4

BakerHostetler on

US Bank Unveils ‘Deposit Token’; Exchange Launches Multiple Crypto Products - According to recent reports, the largest bank in the U.S. has unveiled plans to pilot a so-called “deposit token,” JPMD, on the Ethereum...more

Orrick, Herrington & Sutcliffe LLP

New York attorney general obtains $250K in CFPB’s dropped case

On June 16, the New York attorney general settled a civil action against a remittance provider in a case dropped by the CFPB earlier this year, which as previously covered by InfoBytes, left the State of New York as the sole...more

Orrick, Herrington & Sutcliffe LLP

Maine enacts statute providing guidance for suspected elder abuse

On June 9, the governor of Maine approved SP 586, which contains provisions related to how financial institutions can address suspected elder abuse. The legislation permits financial institutions and credit unions to disclose...more

Harris Beach Murtha PLLC

NY Attorney General Focuses on Corporate Conduct Over Past Six Months

Over the past six months, the New York Attorney General Letitia James has directed her efforts to certain issues, and there is an observable pattern that she is focusing on consumer protection, privacy rights and monopolistic...more

Hudson Cook, LLP

State Watch: Consumer Protection Enforcement Update - May the Force of Law Be with You

Hudson Cook, LLP on

Attorney General James sued a national bank and its holding company for the bank's alleged practices relating to its offering of online savings accounts. Specifically, the AG claims that the bank offered a "high interest"...more

Mintz

Democratic Senators Launch Investigation of Major Financial Institutions Based Upon Their Retreat From Climate Policies

Mintz on

Earlier this year, each of the major US banks announced their withdrawal from the Net Zero Banking Alliance.  This move, which was likely undertaken in response to the policy priorities of the Trump Administration, was...more

Cozen O'Connor

The State AG Report – 05.22.2025

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • FTC Preemptively Throws Flag on StubHub Ahead of Football...more

Cozen O'Connor

NY Brings Down Hammer on CapitalOne Over “High Interest” Savings Accounts

Cozen O'Connor on

New York AG Letitia James sued Capital One N.A. and Capital One Financial Corporation (collectively, “Capital One”) over alleged violations of state and federal consumer protection laws stemming from the marketing of their...more

McGuireWoods LLP

States May Not Obtain Civil Money Penalties Under the Consumer Financial Protection Act

McGuireWoods LLP on

There has been much speculation that States will fill the void created by the Trump Administration’s drastic scaling back of the Consumer Financial Protection Bureau. Congress authorized both state attorneys general and state...more

Cozen O'Connor

Bipartisan AG Coalition Targets WeChat’s Alleged Role in Fentanyl-Linked Money Laundering

Cozen O'Connor on

A bipartisan coalition of six AGs, led by North Carolina AG Jeff Jackson, has sent a demand letter to WeChat US, Inc., seeking answers about the app’s alleged role in facilitating transnational money laundering operations...more

Troutman Pepper Locke

State AGs Unite: New Privacy Task Force Signals Shift in Regulatory Power Dynamics — The Consumer Finance Podcast

Troutman Pepper Locke on

In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight, Chris Willis, Kim Phan, and Stephen Piepgrass provide insights on a new joint privacy task force among several state AGs, known as the...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 6, 2025)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and at the state level. CFPB activity continues to be...more

Orrick, Herrington & Sutcliffe LLP

District court grants bank’s motion for stay pending appeal to consider EFTA arguments

On April 22, the U.S. SDNY granted a bank’s motion for interlocutory appeal and stay pending appeal to the U.S. Court of Appeals for the Second Circuit in a case involving alleged violations of the EFTA. The case stemmed from...more

Morrison & Foerster LLP

CFPB Reverses Course, Withdrawing “Unprecedented” EFTA Interpretation

Following a brief pause under new leadership, the Consumer Financial Protection Bureau (CFPB) has resumed activities, albeit significantly in retreat from the positions taken by the prior administration. In a case involving...more

Venable LLP

CFPB Narrows Supervision and Enforcement, Leaving Broader Focus to States

Venable LLP on

The CFPB confirmed in a recent memo to staff that it is shifting its tone on supervision and enforcement—even as reports circulate about significant staffing cuts and potential structural changes at the agency. ...more

101 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide