Compliance

  • February 22, 2024

    BofA Card Holders Fight Uphill To Save Interest Charge Suit

    A California federal judge appeared inclined to toss a proposed class action claiming Bank of America illegally imposes excessive interest charges on variable-rate credit card holders, asking during a hearing Thursday if the plaintiff's counsel could "bolster" the complaint if the bank's motion to dismiss were granted.

  • February 22, 2024

    Russian Pleads Guilty, 3 Indicted In $150M Laundering Scheme

    A federal grand jury in Atlanta has indicted Moscow-based consulting firm KSK Group and two of its employees for conspiring with a Russian man who pled guilty this month to operating an unlicensed money-transmitting business.

  • February 22, 2024

    Ex-BP Exec's Husband Cops To $1.7M Insider Trading

    The husband of a former manager at British oil and gas company BP PLC on Thursday pled guilty to securities fraud in Texas federal court and agreed to forfeit the $1.7 million he made with the help of insider trading, the U.S. Department of Justice said Thursday.

  • February 22, 2024

    Ex-Vitol Trader Denies Knowing Of Bribes, As Trial Nears End

    Counsel for a former Vitol Group executive told a New York federal jury in closing arguments Thursday that his client wasn't aware of bribes being paid to officials in Ecuador and Mexico in order to obtain $500 million in state contracts, while a prosecutor insisted that the former oil trader was the linchpin to the corruption scheme.

  • February 22, 2024

    BofA Pulling Fast One To Exit Gag Clause Suit, Customers Say

    Consumers suing Bank of America for allegedly trying to stifle consumer critics through clauses in its online service agreements have urged a California federal judge not to toss their suit, arguing the bank's dismissal arguments are without legal merit, factually incorrect and "intended to mislead."

  • February 22, 2024

    SEC Won't Force BofA To Act On ESG Critic's Proxy Proposal

    A division of the U.S. Securities and Exchange Commission has said it wouldn't recommend enforcement action against Bank of America for excluding a climate-related shareholder request from its upcoming proxy statement, while the division rejected Pfizer's request to exclude a shareholder proposal on human rights from its proxy statement.

  • February 22, 2024

    Texas Developer Battles DOJ's 1st Predatory Mortgages Suit

    A Texas land developer is fighting back against a high-profile predatory lending lawsuit filed by the U.S. Department of Justice and Consumer Financial Protection Bureau, telling a Houston federal judge that the government's "reverse redlining" theory isn't legally sound and relies on sloppy loan comparisons.

  • February 22, 2024

    Wash. AG Seeks $1.2M In Damages For Debt Collector's Errors

    A debt collection company should pay more than $1.2 million after it "didn't even come close to complying with the law" while recovering medical debt payments for a hospital in Washington, the state attorney general's office told a judge during a bench trial Thursday.

  • February 22, 2024

    Penny Stock Co. CEO Must Pay $473K Over Fraud Claims

    A Connecticut federal judge granted in part the U.S. Securities and Exchange Commission's motion for final judgment in a securities fraud suit against the CEO of a penny stock company, finding that a less severe punishment than requested is appropriate due to the CEO's financial situation.

  • February 22, 2024

    Lawmakers Press Big Banks On Muslim Discrimination Claims

    A group of five Democratic lawmakers on Thursday pressured the leaders of JPMorgan Chase, Bank of America, Wells Fargo and Citibank for information on how they work to prevent discrimination in banking, pointing to media reports of "de-risking" practices that target Muslim Americans.

  • February 22, 2024

    FTC Lands $16.5M Privacy Deal Over Avast's 'Bait-And-Switch'

    Cybersecurity software provider Avast LLC will pay $16.5 million and be banned from selling web browsing data for advertising purposes to resolve the Federal Trade Commission's claims that the company sold this information to more than 100 third parties despite promising to protect consumers from online tracking, the agency announced Thursday.

  • February 22, 2024

    Exxon Wants To Press Forward With Activist Investor Case

    ExxonMobil Corp. says it should be allowed to move forward with a lawsuit against a pair of activist investors who proposed that the company speed up the pace of its greenhouse gas emission reductions, arguing that the investors' decision to withdraw the proposal will not prevent a similar one from being filed in the future.

  • February 22, 2024

    Wildlife Group Sinks USDA Agricultural Wetlands Rule

    A D.C. federal judge on Thursday ruled that the U.S. Department of Agriculture inappropriately altered its program designed to stop the development of wetlands on farmland and struck down those regulations.

  • February 22, 2024

    ISP Liaison Must Monitor Digital Equity Compliance, FCC Told

    Civil rights advocates are urging the Federal Communications Commission to adopt a rule requiring that internet service providers appoint liaisons to serve as contact points for communities and file annual reports detailing compliance with digital non-discrimination rules.

  • February 22, 2024

    HHS' Civil Rights Office Reaches 2nd-Ever Ransomware Deal

    The Department of Health and Human Services has reached a deal with a Maryland-based behavioral health practice over a ransomware attack that affected the protected health information of nearly 15,000 individuals.

  • February 22, 2024

    Conn. AG Defends $10M Remedy Bid Against Nursing School

    The state of Connecticut on Thursday defended its request to collect a $10 million litigation placeholder from a shuttered nursing school, arguing state regulators were correct to take action against the troubled institution despite the school's strenuous assertions that the attorney general's office is wrong on many facts.

  • February 22, 2024

    Invisalign Maker Beats Refusal-To-Deal Claims In 3Shape Row

    The makers of Invisalign beat an antitrust class action from orthodontists and aligner buyers Wednesday after a California federal judge ruled that the company's decision to terminate its interoperability agreement with a dental scanner company was at least partly made for "legitimate business reasons."

  • February 22, 2024

    DOJ Reports $2.7B False Claims Act Haul In 2023

    The U.S. Department of Justice on Thursday released its latest data on recoveries under the False Claims Act, saying there were nearly $2.7 billion in settlements and judgments in the 2023 fiscal year, an increase from the prior year's haul. 

  • February 22, 2024

    Opioid Drug Co. Sued In Del. For Promotion-Tied Stock Drop

    Stockholders of opioid drug producer Talphera Inc. have sued the company's top officers and directors in Delaware's Court of Chancery, seeking derivative damages for harm to the business purportedly caused by the dangerous promotion of a flagship opioid.

  • February 22, 2024

    Mass. Medical Regulator Seeks Pregnancy Center Records

    A group of pregnancy crisis centers in Massachusetts and their medical director have been hit with a civil investigative demand by the state's medical board, which says it is looking into allegations the clinics "may be engaging in deceptive practices" and allowing unlicensed employees to perform ultrasounds and other procedures.

  • February 22, 2024

    Comerica Brass Sued Over Benefit Cards Contract Oversight

    Executives and directors of financial services company Comerica were hit with a shareholder derivative suit alleging they failed to disclose the company was mismanaging a lucrative government benefits card program by allowing sensitive data to be handled at an international vendor's office.

  • February 22, 2024

    Charter Argues For Tough IoT Security Authentication

    As the Federal Communications Commission prepares to vote next month on a "U.S. Cyber Trust Mark" for Internet of Things devices, cable giant Charter said the FCC should require that eligible devices maintain secure access controls.

  • February 22, 2024

    FCC Dems Press Plan To Raise Broadband Speed Standards

    The Federal Communications Commission's Democratic majority will take another shot next month at raising the federal standard for broadband speeds, saying the existing minimums have lagged the private sector for too long.

  • February 22, 2024

    Things To Watch As Boeing's 737 Max Crisis Grows

    Boeing is bracing for another round of government investigations, production pauses and mounting litigation in its enduring 737 Max crisis after last month's midair panel blowout, but experts say a leadership shakeup and promises to enhance inspections offer cold comfort to regulators, airlines and passengers.

  • February 22, 2024

    FTC Eyes 2024 Trial For Meta Antitrust Case

    The Federal Trade Commission told a D.C. federal court its case accusing Meta Platforms Inc. of monopolizing the personal social networking market could be ready for trial later this year, despite the company saying the case is too complex to start that soon.

Expert Analysis

  • 5 Lessons For SaaS Companies After Blackbaud Data Breach

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    Looking at the enforcement actions that software-as-a-service provider Blackbaud resolved with state attorneys general, the U.S. Securities and Exchange Commission and the Federal Trade Commission in the past year can help SaaS companies manage these increasingly common forms of data breaches, say attorneys at Orrick.

  • Why Biz Groups Disagree On Ending Chevron Deference

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    Two amicus briefs filed in advance of last month's U.S. Supreme Court oral arguments in Loper Bright Enterprises v. Raimondo highlight contrasting views on whether the doctrine of Chevron deference promotes or undermines the stable regulatory environment that businesses require, say Wyatt Kendall and Sydney Brogden at Morris Manning.

  • SEC Regs Give Banks Chance To Step Up Cyber Safety Game

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    Just as the Sarbanes-Oxley Act forced financial institutions to undertake best practices in recordkeeping, the U.S. Securities and Exchange Commission’s recently effective cybersecurity regulations stand to similarly drive those same enterprises to seek out and implement best practices in cybersecurity, to everyone's benefit, says James Gerber at SimSpace.

  • Opinion

    Oregon Law Would Compromise Management Service Orgs

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    If passed, a proposed Oregon law would materially limit physician corporate practice of medicine structures, causing significant disruption to the provision of medicine and hindering professional corporations' ability to focus on the clinical components of their practice, say Christina Bergeron and William Shefelman at Ropes & Gray.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • How DOD Can Improve Flexibility Under Proposed Cyber Rule

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    The U.S. Department of Defense should carefully address some of the more nuanced aspects of the Cybersecurity Maturity Model Certification program to avoid unintended consequences, specifically the proposal to severely limit contractor use of plans of actions and milestones, say Joshua Duvall at Maynard Nexsen and Sandeep Kathuria at L3Harris Technologies.

  • Reassessing Trade Secrets Amid Proposed Noncompete Ban

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    The Federal Trade Commission's proposed ban on noncompete agreements as well as state bans make it prudent for businesses to reevaluate and reinvigorate approaches to trade secret protection, including knowing what information employees are providing to vendors, and making sure confidentiality agreements are put in place before information is shared, says Rob Jensen at Wolf Greenfield.

  • Predicting DeFi Regulations At Home And Abroad In 2024

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    Though decentralized finance has advocates on both sides of the Atlantic in figures like U.S. SEC Commissioner Hester Peirce and U.K. Prime Minister Rishi Sunak, DeFi in 2024 seems likely to be folded into existing regulatory frameworks in the U.K. and EU, while anti-crypto scrutiny may discourage DeFi’s growth in the U.S., say Daniel Csefalvay and Eric Martin at BCLP.

  • Opinion

    Exxon Court Should Clarify Shareholder Proposal Exclusion

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    ExxonMobil last month took the unusual action of asking a Texas federal judge whether a proposal from climate activists seeking to limit oil and gas sales could be excluded from its 2024 proxy statement, and the court should use this opportunity to reevaluate SEC policy and set clear limits on when shareholder proposals can be included, says Stephen Bainbridge at UCLA School of Law.

  • NYC Cos. Must Prepare For Increased Sick Leave Liability

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    A recent amendment to New York City's sick leave law authorizes employees for the first time to sue their employers for violations — so employers should ensure their policies and practices are compliant now to avoid the crosshairs of litigation once the law takes effect in March, says Melissa Camire at Fisher Phillips.

  • NY's Revamped Card Surcharge Ban Is Unique Among States

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    Newly revised New York legislation bolsters the state's ban on credit card surcharges, potentially reinvigorating similar laws across the country despite the fact that many of them have been ruled unconstitutional, say Tom Witherspoon and Audrey Carroll at Stinson.

  • Understanding SEC's Focus Amid Lack Of Final AI Rules

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    Although the U.S. Securities and Exchange Commission's proposed rules to govern artificial intelligence are likely far from being finalized, understanding existing regulatory provisions that could address AI risks with respect to development, disclosure, compliance and data protection could help firms anticipate and avoid pitfalls, say attorneys at Skadden.

  • Legislative And Litigation Trends In Environmental Advertising

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    Companies that tout their products' environmental benefits can significantly reduce the risk that they will face allegations of greenwashing by staying up to date on related Federal Trade Commission guidance, state requirements and litigation trends, say Raqiyyah Pippins and Kelsie Sicinski at Arnold & Porter.

  • What's On The Horizon In Attorney General Enforcement

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    A look at recent attorney general actions, especially in the areas of antitrust and artificial intelligence, can help inform businesses on what they should expect in terms of enforcement trends as 10 attorney general races play out in 2024, say attorneys at Cozen O'Connor.

  • Employer Best Practices In Light Of NY Anti-Trans Bias Report

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    A recent report from the New York State Department of Labor indicates that bias against transgender and nonbinary people endures in the workplace, highlighting why employers must create supportive policies and gender transition plans, not only to mitigate the risk of discrimination claims, but also to foster an inclusive work culture, says Michelle Phillips at Jackson Lewis.

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