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Consumer Protection
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August 22, 2024
Ameriprise Benefits Most From Cash Sweeps, Customer Says
Ameriprise was hit with a proposed class action in Minnesota federal court by a customer over its cash sweep program that allegedly yields low interest for customers and high fees for the bank, adding to a growing list of customer and regulatory scrutiny financial institutions are facing over the account type.
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August 22, 2024
California Fires Back At Red State Attacks On Climate Torts
California and a contingent of blue states told the U.S. Supreme Court that their climate change torts against fossil fuel companies are on solid legal ground and that an effort by Alabama and other red states to undercut them must be rejected.
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August 22, 2024
Kroger-Albertsons Wrong On Labor Law In FTC Row: NLRB
The National Labor Relations Board used an amicus brief Wednesday to call out Kroger and Albertsons for their "mistaken" citation to labor law as a defense against Federal Trade Commission claims that the grocery giants' $25 billion megamerger threatens union bargaining leverage.
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August 22, 2024
Missouri Gov. Clashes With Secretary Of State Over Hemp Ban
Missouri Gov. Mike Parson on Thursday blasted the state's secretary of state for declining to implement an emergency rulemaking that would have banned psychoactive consumable cannabis products manufactured outside the state's regulated adult-use marijuana market.
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August 22, 2024
Flyers Chided For Late Bid To Block Alaska-Hawaiian Deal
A Hawaii federal judge refused to pause the planned $1.9 billion tie-up between Alaska Airlines and Hawaiian Airlines on Wednesday, telling attorneys for the passengers and travel agents bringing a merger challenge that they appear to have "forgotten" the case was tossed.
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August 22, 2024
Crypto Lobbyist Hit With FTX Campaign Finance Charges
Manhattan federal prosecutors announced Thursday that Michelle Bond, a crypto industry lobbyist and the girlfriend of convicted former FTX executive Ryan Salame, has been charged with getting the now-defunct digital asset exchange to illegally finance her unsuccessful 2022 congressional campaign.
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August 21, 2024
FTX's Salame Says Feds Broke Deal Not To Probe Girlfriend
Former FTX executive Ryan Salame urged a New York federal judge Wednesday to either vacate his May conviction or stop federal prosecutors from investigating his domestic partner Michelle Bond for related political campaign-finance offenses, saying prosecutors induced his guilty plea by promising not to probe Bond.
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August 21, 2024
Fla. Co. To Pay $5M To End CFPB's Illegal Foreclosure Claims
Florida-based mortgage servicer Fay Servicing agreed Wednesday to pay a total of $5 million and its founder and CEO Edward Fay faces potential pay restrictions to resolve the Consumer Financial Protection Bureau's claims the company violated a prior 2017 agreement and multiple federal laws that protect borrowers against illegal foreclosure practices.
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August 21, 2024
Finance Guru Can't Send Timeshare Fraud Suit To Arbitration
Celebrity financial planner David L. Ramsey III and his company can't pause and arbitrate a proposed class action alleging they promoted a timeshare exit fraud scheme on his radio show, a Washington federal judge said Wednesday, finding they were not included in arbitration agreements with the timeshare owners.
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August 21, 2024
Tobacco Cos. Ask Justices To Review FDA's New Warnings
R.J. Reynolds Tobacco Co. is urging the U.S. Supreme Court to review a Fifth Circuit decision affirming an FDA rule mandating new health warnings on cigarette packaging and advertisements, arguing that the court created an unjustified circuit split when it found the graphic warnings are "purely factual and uncontroversial."
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August 21, 2024
Maryland Water Park Settles Liability Claim Over Injury
A Maryland water park-goer who was permanently injured after an inflatable tube buckled on a ride and slammed her feet against the bottom of the pool has settled her suit seeking to hold the facility liable for her injuries.
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August 21, 2024
Conn. Justices Back Insurer's Out-Of-Network Patient Bills
The Connecticut Supreme Court on Wednesday limited an emergency physician group's attempt to require a medical insurer to shoulder patient costs under the state's surprise medical billing law, holding that insurers can charge patients for shared costs, such as deductibles and copayments, at lower levels without violating consumer protection laws.
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August 21, 2024
9th Circ. Upholds Toss Of Suit Over Car Insurer's Data Breach
The Ninth Circuit on Wednesday refused to revive a proposed class action accusing auto insurance provider Noblr Reciprocal Exchange of failing to safeguard driver's license numbers exposed in a 2021 data breach, finding that the plaintiffs had failed to credibly allege that their data had actually been stolen.
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August 21, 2024
FTC Fails 1st Test Of Rulemaking Push In Noncompetes Loss
The Federal Trade Commission suffered its first definitive loss Tuesday in the push to ban employment noncompete agreements, although the decision probably isn't the final word given a likely appeal and two other pending challenges also viewed as a test of the agency's efforts to expand its rulemaking footprint.
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August 21, 2024
8th Circ. Reboots Fed Swipe Fee Suit After High Court Ruling
An Eighth Circuit panel on Wednesday remanded a suit challenging Federal Reserve debit card swipe fee rules, ordering new proceedings in the case after the U.S. Supreme Court ruled that it was not untimely after all.
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August 21, 2024
Student Loan Trusts Rip 'Aggressive' CFPB In High Court Bid
Fifteen Delaware student loan trusts have petitioned the U.S. Supreme Court to rescue them from a long-running Consumer Financial Protection Bureau enforcement lawsuit, asking to appeal a Third Circuit decision that said the securitization vehicles were subject to the agency's authority.
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August 21, 2024
Alaska Air Seeks Clarification In Rogue Pilot Case
Alaska Airlines has urged a Washington state judge to clear up his decision to partially dismiss a lawsuit alleging an off-duty crew member tried to crash a flight in October, saying the ruling doesn't clearly state the passengers suing the company can no longer pursue claims rooted in federal aviation safety regulations.
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August 21, 2024
Telecom Will Pay $1M For Carrying Biden Deepfake Robocalls
Lingo Telecom will pay the FCC $1 million for not properly validating the caller ID information of a Democratic consultant who used a deepfake of President Joe Biden's voice to make robocalls urging voters not to participate in the New Hampshire primary, the commission announced Wednesday.
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August 21, 2024
Split 6th Circ. Partly Revives GM Drivers' Truck Emissions Suits
A divided Sixth Circuit panel on Wednesday revived drivers' state-law claims in consolidated litigation alleging General Motors deceptively marketed Chevrolet Silverado and Sierra vehicles as being more environmentally friendly than they actually were, rejecting a district court's finding that the claims conflicted with federal law.
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August 21, 2024
AT&T, Verizon, T-Mobile Accused Of Blocking Wi-Fi Calling
A patent-holding company said Wednesday it has filed a lawsuit accusing AT&T, Verizon, T-Mobile and Deutsche Telekom of blocking the emergence of a market for Wi-Fi calling by tying the service to voice and text offerings.
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August 21, 2024
Fla. Real Estate Co.'s Assets Frozen After $56M Ponzi Claims
The U.S. Securities and Exchange Commission has secured an asset freeze in its suit against a Florida-based real estate investment company whose managers misused tens of millions of investor proceeds, including by paying investors "in a Ponzi-like fashion."
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August 21, 2024
Prometheum Plans To Support Two More Crypto 'Securities'
A cryptocurrency startup approved to safeguard crypto securities said Wednesday that it plans to support the tokens UNI and ARB when it launches in the fall, indicating it believes the digital assets implicate securities laws.
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August 21, 2024
Spine Implant Caused Patient's TB, Suit Says
A North Carolina couple on Tuesday hit biologic technology company Elutia Inc. with a complaint in federal court alleging that the husband contracted tuberculosis from a bone cell product that was implanted into his spine during surgery.
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August 21, 2024
Binance Users Settle With Miami Heat Star, Crypto Influencer
Miami Heat star Jimmy Butler and crypto influencer Ben Armstrong have agreed to pay a combined $340,000 to settle proposed class claims from Binance investors that their promotion of the crypto exchange aided and abetted unregistered securities sales.
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August 21, 2024
DraftKings Can't Dodge Bettors' Claims Over $1K Bonus Offer
DraftKings cannot walk away from a proposed class action accusing the online sports betting platform of luring new customers with a deceptive offer to pay them $1,000 for signing up, a Massachusetts state court judge ruled in a decision made public Wednesday.
Expert Analysis
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Opinion
Paid Noncompetes Offer A Better Solution Than FTC's Ban
A better alternative to the Federal Trade Commission's recent and widely contested noncompete ban would be a nationwide bright-line rule requiring employers to pay employees during the noncompete period, says Steven Kayman at Rottenberg Lipman.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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High Court's BofA Ruling Leaves State Preemption Questions
A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.
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Cyber Takeaways For Cos. From Verizon Data Breach Report
Camilo Artiga-Purcell at Kiteworks analyzes the key findings of the 2024 Verizon Data Breach Investigations Report from a legal perspective, examining the implications for organizations' cybersecurity strategies and compliance efforts.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
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Lessons From Epic's Dutch Fine For Unfair Marketing To Kids
Dutch regulators' imposition of a €1.1 million fine on Epic Games for unfair commercial practices targeting children marks a significant moment in the ongoing scrutiny of digital market practices, and follows an increased focus on children's online safety in the U.S. and European Union, say attorneys at Crowell & Moring.
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Opinion
California Has A Duty To Curtail Frivolous CIPA Suits
As plaintiffs increasingly file class actions against companies for their use of website tracking cookies and pixels, the Legislature should consider four options to amend the California Invasion of Privacy Act and restore the balance between consumer privacy and business operational interests, say Steven Stransky and Jennifer Adler at Thompson Hine and Glenn Lammi at the Washington Legal Foundation.
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Risks And Promises Of AI In The Financial Services Industry
Generative artificial intelligence has immense potential to revolutionize the financial services industry, but firms considering its use should first prepare to show their customers and the increasingly divided international regulatory community that they can manage the risks inherent to the new technology, say attorneys at Gibson Dunn.
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Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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Key FCC Enforcement Issues In AT&T Location Data Appeal
AT&T’s decision to challenge a $57 million fine from the Federal Communications Commission for its alleged treatment of customer location information highlights interesting and fundamental issues about the constitutionality of FCC enforcement, say Patrick O’Donnell and Jason Neal at HWG.
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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What To Know As CFPB Late Fee Rule Hangs In Limbo
Though the Consumer Financial Protection Bureau's final credit card late fee rule faces an uncertain future due to litigation involving injunctions, emergency petitions and now a venue dispute, card issuers must understand how to navigate the interim period and what to do if the rule takes effect, say attorneys at Steptoe.
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A Deep Dive Into The Evolving World Of ESG Ratings
Attorneys at Mintz discuss the salience of environmental, social and governance ratings in corporate circles in recent years, and consider certain methodologies underlying their calculation for professionals, as well as issues concerning the ESG ratings and products themselves.
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What TikTok's Race Against The Clock Teaches Chinese Firms
The Biden administration's recent divestiture deadline on TikTok parent ByteDance provides useful information for other China-based companies looking to do business in the U.S., including the need to keep products for each market separate and implement firewalls at the design stage, says Richard Lomuscio at Stinson.