• 06.06.19

    Supreme Court Sets Limits on CAFA Removal

    A third party brought into a lawsuit by a counterclaim filed by the original defendant is not entitled to remove the case to federal court under the Class Action Fairness Act (CAFA), the U.S. Supreme Court has ruled.

  • 05.28.19

    CCPA Update: Reform Measures on the Precipice?

    California’s sweeping consumer privacy and data security law, the California Consumer Privacy Act, is set to take effect in 2020 despite concerns that big problems with the new law remain unresolved.

  • 05.22.19

    Federal Reserve, FDIC Enforcement Efforts

    In recent enforcement actions, the Board of Governors of the Federal Reserve System announced an order with a Japanese bank over weaknesses with respect to its New York branch’s Bank Secrecy Act / anti-money laundering (BSA/AML) and U.S. sanctions compliance programs and internal controls.

  • 05.22.19

    New DFS Office To Tackle Consumer Protection

    There’s yet another state CFPB, and this one could be significant. Joining Pennsylvania’s earlier effort, the New York Department of Financial Services (DFS) has just created a new office, the Consumer Protection and Financial Enforcement Division.

  • 05.22.19

    NY Federal Court: OCC Fintech Charters in Jeopardy

    In a surprising decision, a New York federal district court not only refused to dismiss the New York Department of Financial Services’ (DFS) challenge to the Office of the Comptroller of the Currency’s (OCC) plans to issue special purpose national bank (SPNB) charters to fintech ...

  • 05.22.19

    State AGs, ABA Back Bill On Financial Services For Cannabis

    Support continues to build for the Secure and Fair Enforcement (SAFE) Banking Act, with a coalition of 38 state and territorial Attorneys General as well as the American Bankers Association (ABA) writing to lawmakers to urge passage of the bill.

  • 05.22.19

    FinCEN Provides Guidance On Cryptocurrency

    The Financial Crimes Enforcement Network (FinCEN) has released new guidance on cryptocurrency, an attempt to “provide regulatory certainty for businesses and individuals” engaged in the burgeoning field of financial activity.

  • 05.14.19

    On a Need-to-Know Basis With Congressional Investigations? Don’t Be.

    When Democrats retook the majority in the House of Representatives last fall, Washington and much of the country braced for clashes between the White House and Congress.

  • 05.10.19

    “California for All”—Newsom Budget Includes Bold Spending, Fiscal Guardrails

    Five months into his first term as California governor, and a week ahead of schedule, Governor Gavin Newsom rolled out his “May Revise” budget.

  • 05.08.19

    Passive-Aggressive: Federal Reserve Seeks Comment on Bank Control

    Seeking to increase the transparency of the rules for determining control of a banking organization, the Federal Reserve Board of Governors (Board) asked for public comment on a new proposal.