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Consumer Protection
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January 14, 2025
DOJ Accuses PE Giant KKR Of Dropping Merger Disclosures
The Justice Department filed an extraordinary lawsuit Tuesday accusing private equity giant KKR & Co. Inc. of repeatedly flouting its merger notification requirements, "altering" or "systematically omitting" documents on some deals and failing entirely to notify enforcers of at least two, including a $6.9 billion transaction, only for KKR to file its own suit in response.
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January 14, 2025
CFPB Says Capital One Stiffed Savings Customers Out Of $2B
The Consumer Financial Protection Bureau on Tuesday sued Capital One in Virginia federal court, alleging the bank avoided paying $2 billion in interest to customers by keeping them in a lower-yield savings account product.
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January 13, 2025
CFPB Eyes Rule To Rein In 'Forced' Financial Contract Terms
The Consumer Financial Protection Bureau on Monday floated a new rule that calls for banning financial companies from using contractual fine print to limit consumers' legal rights or restrict their free expression.
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January 13, 2025
Texas AG Sues Allstate In Latest Location Data Privacy Strike
Texas' attorney general is accusing Allstate and a subsidiary of violating the state's new comprehensive data privacy law by unlawfully collecting drivers' location data through tracking software embedded in their mobile apps and then using that information to set car insurance rates.
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January 13, 2025
Robinhood Users Oppose Arbitration Of 'Meme Stock' Claims
Stock trading platform Robinhood has failed to lay the groundwork for sending user disputes to arbitration, seven users of the platform claimed Monday in a bid to keep their claims in federal court over the company's 2021 suspension certain so-called meme stock trades.
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January 13, 2025
6th Circ. OKs Home Depot's $50M Data Breach Coverage Loss
The Sixth Circuit affirmed Monday a finding that an electronic-data exclusion provision in Home Depot Inc.'s commercial general liability excess policies with Steadfast Insurance Co. and Great American Assurance Co. unambiguously barred coverage for the retail giant's $50 million claim for defense and settlement costs over a 2014 data breach.
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January 13, 2025
4th Circ. Backs Arbitration In BoFA's PPP Loan Suits
The Fourth Circuit on Monday affirmed a decision ordering small businesses to arbitrate their proposed class action alleging Bank of America misled them on how to use the Paycheck Protection Program, noting the deposit agreements say an arbitrator will decide all disputes, including the scope of the arbitration provision.
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January 13, 2025
Texas Judge Urged To Halt CFPB Medical Debt Reporting Rule
Trade groups suing the Consumer Financial Protection Bureau over its new rule banning medical debt from credit reports have asked a Texas federal judge to put a court-ordered hold on the measure while they proceed with their challenge to its legality.
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January 13, 2025
Lincare Pays $1.15M To End Wash. Medicaid Fraud Probe
Lincare Inc. agreed to pay $1.15 million to resolve a Washington probe into allegations the medical equipment supplier overbilled Medicaid for rental payments for patients' oxygen equipment over a six-year period, the Washington State Office of the Attorney General announced Monday.
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January 13, 2025
COVID-19 Tracking App's Apple Antitrust Suit Snuffed Out
A D.C. federal judge won't permit a COVID-19 tracking app to tweak its proposed antitrust class action against Apple, finding that the amended complaint "stumbles at step one" and cannot adequately describe smartphone and app markets to justify allegations that the technology giant shut out competing tracker apps.
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January 13, 2025
California's AG Warns Businesses State Is Not AI 'Wild West'
California Attorney General Rob Bonta warned businesses on Monday that the state is not the "wild west" of artificial intelligence and has various laws on the books preventing the technology from being used to discriminate or violate people's rights.
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January 13, 2025
Fintech Partner Banks Face Suit Over Synapse Financial Collapse
Banks that partnered with financial technology companies face mounting proposed class action allegations over the "inexplicable" loss of $85 million on the heels of the bankruptcy of intermediary software company Synapse Financial Technologies Inc.
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January 13, 2025
Flint Legionella Victim's Estate Seeks OK On $1.5M Settlement
The mother of a woman who died of Legionnaires' disease after years of drinking the city of Flint's water is asking a Michigan federal court to approve a $1.5 million to settlement that would bring to an end her wrongful death claims.
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January 13, 2025
Judge In John Deere Antitrust Case Flags Potential Conflict
The Illinois federal judge overseeing a proposed right-to-repair class action against John Deere told the parties on Monday that he is facing a potential conflict of interest after finding the name of a "good friend" in documents connected to the case.
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January 13, 2025
Google Says Sanctions Bid In Texas Ad Tech Case Too Late
Google has urged a Texas federal court to reject a bid for sanctions in the ad tech monopolization case being brought by state enforcers over the company's prior policy for retaining internal chats, arguing that the bid comes too late.
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January 13, 2025
GPS Backup Would Serve Larger 'Ecosystem,' FCC Told
A public safety tech company is throwing its weight behind a plan to license a chunk of the lower 900 megahertz band to launch a network that would back up the Global Positioning System, calling on the Federal Communications Commission to "advance this critical initiative."
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January 13, 2025
NY's $15 Broadband Price Cap To Take Effect Wednesday
Internet service providers in New York won't be allowed to charge low-income households more than $15 for basic broadband service come Wednesday, after the U.S. Supreme Court declined to weigh in on a ruling upholding the Empire State's right to cap internet costs.
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January 13, 2025
Investment Firm Seeks Coverage For Hertz Buyback Suits
An investment adviser said its insurers must provide coverage for underlying actions related to the adviser's involvement in car rental company Hertz Global Holdings Inc.'s stock buybacks, telling a Delaware state court that its primary carrier improperly denied coverage.
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January 13, 2025
Uber Says Colo. Pay Disclosure Law Infringes Free Speech
Uber is suing Colorado state officials in Denver federal court, contending new driver earnings and service fee disclosure requirements violate the First Amendment by forcing commercial speech, adding that they will ultimately mislead the public about how much in fares the company retains.
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January 13, 2025
NC Judge Rebuffs Redo In Pool Co.'s $16M False Ads Trial
A North Carolina federal court said Monday it did not err in letting a Chinese pool parts supplier's American rival introduce evidence that its "Made in the USA" claims misled customers, denying the company a do-over on a false advertising and unfair business practices trial that resulted in a $16 million judgment against it.
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January 13, 2025
T-Mobile, UScellular Say Tie-Up Will 'Greatly' Amp Up Service
T-Mobile and UScellular defended their $4.4 billion deal to combine wireless operations, telling the Federal Communications Commission that expanding the T-Mobile footprint will improve consumers' experiences around the country.
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January 13, 2025
FCC Monitoring For Wireless Outages Caused By LA Fires
The Federal Communications Commission said Monday it was closely monitoring the effect of the Los Angeles wildfires on telecommunications networks and was granting tentative authority for providers to fill any gaps in service.
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January 13, 2025
CFPB Can't Get $43M Fine From Telemarketing Debt Co. Yet
An Illinois federal judge Friday waited to order the owner of a defunct debt company to pay $43 million for misrepresenting to customers they could eliminate their student loans, pointing to a U.S. Supreme Court decision holding the accused has a right to a jury trial when financial penalties are on the line.
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January 13, 2025
TDK, NHK Face Certified Classes In Price-Fixing MDL
A California federal judge has certified classes of resellers and end users who allege that electronics manufacturers TDK Corp. and NHK International Corp. fixed prices of certain hard-drive components, rejecting the companies' challenges to the plaintiffs' overcharge damages theories and finding that the claims can be resolved on a classwide basis.
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January 13, 2025
Sen. Warren To Grill Treasury Pick On Trump's Tax Agenda
Sen. Elizabeth Warren, D-Mass., plans to ask Treasury secretary nominee Scott Bessent at his confirmation hearing in front of the Senate Finance Committee on Thursday about President-elect Donald Trump's tax agenda and plans for the Internal Revenue Service, according to a letter she sent the nominee.
Expert Analysis
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Complying With Seasonal Product Labeling Requirements
Though the holiday season is in the rearview, many seasonal alcohol products remain in the market, and producers should ensure that their labels comply with the Alcohol and Tobacco Tax and Trade Bureau's additional requirements for such products, say attorneys at McDermott.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
In 2024's final quarter, the New York State Department of Financial Services published guidance on mitigating the rising cybersecurity risks of artificial intelligence and remote technology workers with North Korean ties, and the state attorney general launched an antitrust investigation into Capital One's proposed Discover merger, say attorneys at Haynes Boone.
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How Trial Attys Can Wield Amended Federal Evidence Rules
Trial lawyers should assess recent amendments to four Federal Rules of Evidence and a newly enacted rule on illustrative aids to determine how to best use the rules to enhance pretrial discovery and trial strategy, says Stewart Edelstein, former litigation chair at Cohen & Wolf.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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5 Drug And Device Developments That Shaped 2024
The last year saw significant legal developments affecting drug and device manufacturers, with landmark decisions and regulatory changes that require vigilance and agility from the industry, say attorneys at Faegre Drinker.
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Takeaways From SEC's Mixed Results In '24 Crypto Litigation
Though the U.S. Securities and Exchange Commission's new leadership seems likely to create a more favorable cryptocurrency regulatory environment, it must also confront the consequences of, and lingering questions raised by, the SEC's 2024 policy of investigating and charging cryptocurrency trading platforms for operating unregistered exchanges, say attorneys at Dechert.
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Opinion
Aviation Watch: How Court Nixed Boeing Plea Deal Over DEI
A Texas federal court's rejection of the plea agreement between the U.S. Department of Justice and Boeing over the 737 Max aircraft gratuitously injected the court's views on diversity, equity and inclusion into a case that shouldn't have been a criminal matter in the first place, says Alan Hoffman, a retired attorney and aviation expert.
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Reviewing The High Court's Approach To Free Speech Online
As the U.S. Supreme Court began addressing the interplay between the First Amendment and online social media platforms, its three opinions from last term show the justices adopting a nuanced approach that recognizes that private citizens, public employees and online platforms all have First Amendment rights, say attorneys at Jenner & Block.
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Series
In The CFPB Playbook: A Sprint To The Finish Line
The fourth quarter of 2024 was an impressive demonstration of the Consumer Financial Protection Bureau's ability to regulate, enforce and supervise, even on borrowed time following the election results, and we should expect the current bureau to run nonstop until Jan. 20, say attorneys at Covington.
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3 Factors Affecting Retail M&A Deals In 2025
Retailers considering mergers and acquisitions this year face an evolving antitrust environment, including a new administration under President-elect Donald Trump, revised merger guidelines and a precedent set last year by a canceled $8.5 billion handbag merger, say attorneys at DLA Piper.
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Top 10 Legal Issues This Year For Transportation Industry GCs
General counsel must carefully consider numerous legal and policy challenges facing the automotive and transportation industry in the year to come, especially while navigating new technologies, regulations and global markets, says Francesco Liberatore at Squire Patton.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Searching For Insight On Requested Google Chrome Remedy
The potential for Google to divest its Chrome browser — a remedy requested by the Justice Department following a D.C. federal court’s finding the company is a monopolist — has drawn both criticism and endorsement, but legal precedent likely supports the former, say attorneys at Ballard Spahr.
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Consultants Should Be Aware Of DOJ's Potential New Reach
The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.
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New Year, New Risks: 8 Top Cyber Issues For Finance In 2025
As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.