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Consumer Protection
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June 27, 2024
Conn. Banking Dept. Defends $25K Fine Against Legal Funder
The Connecticut Department of Banking is urging a state judge to affirm a $25,000 fine levied on a legal funding business, saying the court should reject the company's contention that it has no authority over transactions at issue in the penalty.
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June 27, 2024
SEC Sues Fla. Loan Website, CEO Over 'Fictitious' Revenue
A purported online lender and its CEO face U.S. Securities and Exchange Commission allegations that the company's reported revenue for certain periods was "a figment" of the CEO's imagination.
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June 26, 2024
SEC Crypto Stance May Shift With Election, Rulemaking Suits
The U.S. Securities and Exchange Commission is likely to shift its cryptocurrency posture to some degree if a new chair is installed after the coming presidential election, but firms not content to wait for a change in the guard can consider challenging the agency's rulemaking process, experts said Wednesday.
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June 26, 2024
Biotech Co. Allowed To Appeal Red Cross Antitrust Immunity
The American Red Cross' immunity from antitrust allegations that it smothered competition for testing platelets for bacteria is back in play after a Massachusetts federal judge agreed Wednesday to let the biotech company suing the blood donation giant ask the First Circuit to revive its claims.
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June 26, 2024
Conn. Zantac Ruling To Include Sanofi As Settlement Looms
A Connecticut state judge will include Sanofi-Aventis US LLC and a related corporate entity in a forthcoming decision on whether Zantac makers must face novel innovator liability claims in the Constitution State, the judge revealed after the pharmaceutical giant suggested a ruling would help finalize a nascent settlement.
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June 26, 2024
BofA COVID Benefit Card Suit Trimmed After Prior Order Axed
A California federal judge has trimmed a suit brought against Bank of America NA by a proposed class of unemployment and disability benefits card recipients while also agreeing with them that a federal magistrate judge erred in holding that the bank's top brass lacked "uniquely relevant information" concerning discovery in the suit.
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June 26, 2024
Justices Leave Blurry Line In Place On Misinformation Fight
The U.S. Supreme Court's decision Wednesday to reverse a Fifth Circuit order prohibiting the Biden administration from joining with social media platforms to fight misinformation leaves an important First Amendment question unanswered and left Missouri's attorney general promising a continuing fight against what he called a "censorship regime."
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June 26, 2024
Umpqua Bank Can't Undo Class Cert. In $300M Ponzi Suit
Oregon-headquartered Umpqua Bank has lost its bid to partially decertify a class of investors suing it over claims that it aided and abetted a $300 million Ponzi scheme, and it also can't block those same investors from later seeking prejudgment interest in the case, a San Francisco federal judge has determined.
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June 26, 2024
FCC Urged To Prevent Abuse Through High-Tech Cars
Privacy and abuse survivor advocates have outlined ways the Federal Communications Commission could safeguard connected car technology to mitigate domestic and sexual abuse, urging the agency to expand and adapt existing rules to limit abusers from using joint cellphone plans to stalk or harass people to apply to data in vehicles with advanced wireless connectivity.
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June 26, 2024
Baby Bottle Cos. Face False Ad Suits Over Microplastics
Philips North America and Handi-Craft face a pair of proposed class actions filed Tuesday in California federal court alleging they misled customers into thinking their sippy cups and baby bottles were "BPA free" and therefore safe for use, despite that heating them could cause harmful microplastics to leak into food and drinks.
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June 26, 2024
Window Seal Maker Can't Nix Condo's Faulty Glass Panel Suit
A Washington federal judge on Tuesday refused to free a window component maker from a lawsuit claiming it helped conceal defects in a Seattle condominium's windows, saying the court had personal jurisdiction because the alleged wrongdoing was characterized as a deliberate act that affected a large number of actual Washington consumers.
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June 26, 2024
State Data Privacy Law Patchwork: Midyear Report
States jumped on the consumer data privacy law bandwagon at a brisk clip in the first half of 2024, although it remains unclear if this push will be enough to encourage Congress to finally enact a nationwide framework this year.
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June 26, 2024
Crypto App Pledges More Refunds In Multistate Settlement
Cryptocurrency platform Abra has agreed to return millions of dollars in digital assets to U.S. customers after getting busted for running a mobile application for crypto transactions without the required money transmitting licenses, a coalition of state financial regulators announced on Wednesday, with Washington state taking the lead.
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June 26, 2024
State Farm Loses Bid To Skip Atty Fees On Expert Technicality
A Texas appeals court found that State Farm may still have to pony up attorney fees in a case involving an underinsured motorist claim, saying Wednesday that the trial court got it wrong when it granted the insurance company's motion to strike the motorist's expert designation in a bifurcated trial on the fee issue.
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June 26, 2024
New Hampshire Claims TikTok Exploits Kids For Profit
Social media titan TikTok is exploiting children by intentionally designing its platform to be addictive, so children will keep scrolling on the app for as long as possible, the state of New Hampshire argues in a heavily redacted lawsuit in state court.
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June 26, 2024
Pilgrim's Pride Settles Grower Pay Antitrust Case
An Oklahoma federal judge hit the brakes Wednesday on a lawsuit seeking nearly $3 billion in damages from Pilgrim's Pride Corp. over claims it conspired with other chicken producers to suppress farmer compensation after the sides reached a settlement.
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June 26, 2024
Artists Drum Up Support For Bill To Pay Music Royalties
Congress needs to protect musical artists' intellectual property rights by requiring radio broadcasters to pay royalties for airing their sound performances, as most other countries do, the recording industry told lawmakers Wednesday.
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June 26, 2024
4th Circ. Douses Fireworks Co.'s Challenge To CPSC Notices
The Fourth Circuit on Wednesday affirmed the dismissal of a fireworks importer's challenge to safety notices from the U.S. Consumer Product Safety Commission, saying the notices are not a final agency action that can be reviewed under the Administrative Procedure Act.
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June 26, 2024
FCC Threatens To Yank Texas AM Station License Over Fees
A Spanish-language Christian radio station is about to have its license snatched away by the Federal Communications Commission if it doesn't do something about its delinquent regulatory fees, according to new proceedings initiated by the agency.
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June 26, 2024
Conn. Firm Settles Suit Against Insurer Over Office Damage
A Connecticut law firm and a real estate company on Wednesday agreed to drop a federal lawsuit accusing their insurer of failing to fully cover damage from a leak at their New Haven offices, less than two weeks after the insurer notified the court of a pending settlement, court records show.
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June 26, 2024
Choctaw Nation Wants 9th Circ. Rehearing In CVS Arb. Dispute
The Choctaw Nation has asked the Ninth Circuit for a rehearing in an effort to undo the court's decision forcing it to arbitrate a dispute over prescription drug reimbursements with subsidiaries of CVS Health Corp., arguing it never waived sovereign immunity and did not agree to such proceedings on its Recovery Act claims.
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June 26, 2024
3 Firms Vie For Lead Role In Autodesk Securities Suit
Robbins Geller Rudman & Dowd LLP, Bernstein Litowitz Berger & Grossmann LLP and The Rosen Law Firm PA have each asked a California federal judge to lead a securities lawsuit against software company Autodesk for allegedly lacking proper internal controls due to issues with its free cash flow and operating margin practices.
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June 26, 2024
FCC To Finalize Funding For School Wi-Fi Hot Spots
The Federal Communications Commission plans to vote in July on final rules to help schools pay for Wi-Fi hot spots, part of a Democratic effort to address off-campus connectivity gaps through federal aid.
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June 26, 2024
Ex-Worker Says NC Justices Needn't Review Carcinogen Test
A former graduate student worker for North Carolina State University has told the Tar Heel State's highest court that the school is trying to delay a potential lawsuit by continuing its fight to keep the ex-employee and cancer patient from investigating a campus building for carcinogens.
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June 26, 2024
NHTSA Declines Calls For 'More Robust' Truck Safety Guards
Roadway safety advocates are chiding the National Highway Traffic Safety Administration after it rejected requests for stricter requirements on rear impact guards on semitruck trailers, used to protect passenger vehicles that crash into the back of trailers, calling the decision "indefensible."
Expert Analysis
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The Multifaceted State AG Response To New Technologies
In response to the growth of technologies like artificial intelligence, biometric data collection and cryptocurrencies across consumer-facing industries, state attorneys general are proactively launching enforcement and regulatory initiatives — including bipartisan investigations and new state AI legislation, say Ketan Bhirud and Emily Yu at Cozen O'Connor.
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5th Circ. Clarifies What Is And Isn't A 'New Use' Of PFAS
The Fifth Circuit's March 21 decision in Inhance Technologies v. U.S. Environmental Protection Agency, preventing the EPA from regulating existing uses of PFAS under "significant new use" provisions of the Toxic Substances Control Act, provides industry with much-needed clarity, say Joseph Schaeffer and Sloane Wildman at Babst Calland.
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Handling Customer Complaints In Bank-Fintech Partnerships
As regulators mine consumer complaint databases for their next investigative targets, it is critical that fintech and bank partners adopt a well-defined and monitored process for ensuring proper complaint handling, including by demonstrating proficiency and following interagency guidance, say attorneys at Jenner & Block.
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Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law
A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.
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What NAR Settlement Means For Agent Commission Rates
If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.
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Opinion
New Mexico Fire Victims Deserve Justice From Federal Gov't
Two years after the largest fire in New Mexico's history — a disaster caused by the U.S. government's mismanagement of prescribed burns — the Federal Emergency Management Agency must remedy its grossly inadequate relief efforts and flawed legal interpretations that have left victims of the fire still waiting for justice, says former New Mexico Attorney General Hector Balderas.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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Decoding The FTC's Latest Location Data Crackdown
Following the Federal Trade Commission's groundbreaking settlements in its recent enforcement actions against X-Mode Social and InMarket Media for deceptive and unfair practices with regards to consumer location data, companies should implement policies with three crucial elements for regulatory compliance and maintaining consumer trust, says Hannah Ji-Otto at Baker Donelson.
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Series
Illinois Banking Brief: All The Notable Legal Updates In Q1
In the first quarter of 2024, Illinois lawmakers proposed a stack of bills aimed at modernizing money transmission, digital assets and banking laws, with a particular focus on improving consumer protections and better defining the state’s authority to regulate digital services, say James Morrissey and Mark Svalina at Vedder Price.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
The first quarter of the year brought the usual onslaught of new regulatory developments in California — including a crackdown on junk fees imposed by small business lenders, a big step forward for online notarizations and a ban on predatory listing agreements, says Alex Grigorians at Hanson Bridgett.
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Tipsters May Be Key To Financial Regulators' ESG Efforts
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission are looking to whistleblowers to assist their climate and ESG task forces, suggesting insider information could be central to the agencies' enforcement efforts against corporate greenwashing, false investment claims and climate disclosure violations, says John Crutchlow at Youman & Caputo.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Opinion
The SEC Is Engaging In Regulation By Destruction
The U.S. Securities and Exchange Commission's recent use of regulation by enforcement against digital assets indicates it's more interested in causing harm to crypto companies than providing guidance to the markets or protecting investors, says J.W. Verret at George Mason University.
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Series
NJ Banking Brief: All The Notable Legal Updates In Q1
Early 2024 developments in New Jersey financial regulations include new bills that propose regulating some cryptocurrency as securities and protecting banks that serve the cannabis industry, as well as the signing of a data privacy law that could change banks’ responsibility to vet vendors and borrowers, say attorneys at Chiesa Shahinian.