Newsletters

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.


05.22.19

Possibility of Vicarious Liability for Lenders in Ninth Circuit

In another case involving agency liability, the U.S. Court of Appeals for the Ninth Circuit ruled that while the owner of a student debt is not per se liable for violations committed by a loan servicer it engages, it may be liable if an agency relationship exists based on traditional agency ...


05.16.19

FTC Actions Emphasize Data Security

In the most recent Federal Trade Commission (FTC) actions alleging data security violations, the agency settled with an online rewards website and a dress-up games website over allegations that the sites failed to take reasonable steps to secure consumers’ data.


05.16.19

It’s a Deal: SAG-AFTRA Ratifies New Commercials Contract

The Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) members overwhelmingly voted to ratify the 2019 SAG-AFTRA Commercials Contract, which was finalized by SAG-AFTRA and the Joint Policy Committee (JPC) on April 2, 2019, following months of negotiations.


05.16.19

A Catfight Over Copyright

A photographer has filed suit against Clorox and its ad company for copyright infringement, arguing that the defendants made use of her photos far beyond what the parties agreed in the contract.


05.16.19

Update on State Privacy Laws

In the latest developments surrounding state-level privacy laws, legislators advanced amendments that could ease the burden of the California Consumer Privacy Act (CCPA), while the Washington Privacy Act (WPA) appears dead in the water—for now.