News & Analysis as of

Banking Sector State and Local Government

Sheppard Mullin Richter & Hampton LLP

Swipe Fee Saga Continues: OCC and Trade Groups Clash with Illinois AG

The banking industry’s efforts to challenge a new Illinois law banning interchange fees, also known as “swipe fees,” on tax and tip payments gained significant momentum when the OCC criticized the law as an “ill-conceived”...more

Sheppard Mullin Richter & Hampton LLP

Wisconsin Signs Earned Wage Access Bill into Law

On March 21, Wisconsin enacted into law Assembly Bill 574, positioning it as the third state, following Nevada and Missouri, to establish a comprehensive regulatory framework for earned wages access (EWA) services and...more

Troutman Pepper

State Laws on Screening and Federal Preemption – Where Are We Now and Where Are We Heading? — FCRA Focus Podcast

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Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Cindy Hanson for a highly informative discussion on federal preemption as it relates to state laws and the Fair Credit Reporting Act (FCRA)....more

Bradley Arant Boult Cummings LLP

To Reschedule or To Deschedule: That Is the (Marijuana) Question

Now that the dust is starting to settle on the recent news that the U.S. Department of Health and Human Services (HHS) has recommended to the U.S. Drug Enforcement Agency (DEA) that marijuana be moved from Schedule I to...more

Benesch

Cannabis Industry Quarterly Update: Q2 2023

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There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more

McDermott Will & Emery

Of Digital Interest Quarterly Roundup | Q1 2023

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McDermott’s digital health team continually monitors legal developments affecting all aspects of the remote delivery of care. This inaugural issue of our Of Digital Interest Quarterly Roundup highlights key issues and trends...more

Perkins Coie

Cannabis Legal Report - January 2023

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New York City Attempts to Crack Down on Illicit Cannabis Market - During a council hearing on Jan. 18, 2023, New York City lawmakers and law enforcement officials discussed the need for tackling the city’s illicit cannabis...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 24, 2022

North Carolina Power Outage Points to Homeland Security Long-Documented Threats to US Power Grid - “Moore County blackouts serve as reminder that nation’s electricity infrastructure could be vulnerable targets for domestic...more

Seyfarth Shaw LLP

The Week in Weed: July 2022 #4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana....more

Allen Matkins

Are Applications Submitted To The DFPI Subject To Inspection Under The California Public Records Act?

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California's Public Records Act, Cal. Gov't Code § 6250 et seq., provides for public access to California state and local government records.  The PRA defines "public records" broadly to include "any writing containing...more

Sheppard Mullin Richter & Hampton LLP

Virginia Approves Bill Allowing Banks to Offer Cryptocurrency Custody Services

On March 3, Virginia passed a new bill (HB 263) permitting banks in the Commonwealth to provide its customers with crypto custody services “so long as the bank has adequate protocols in place to effectively manage risks and...more

Bradley Arant Boult Cummings LLP

CannaBanking in Alabama: Will Financial Institutions See Green?

Medical cannabis is on the way in Alabama. What does that mean for Alabama banks? The implications of this development are enormous for the financial services industry in Alabama, as each institution will soon have to...more

Buchalter

OCC and FDIC “Valid When Made” Rule Reaffirmed: Interest Rate Limitations, or Lack Thereof, on Loans Made By National and State...

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Under the long-recognized valid when made doctrine, if a loan was not subject to a state usury law when it was made, it does not subsequently become even if it is subsequently sold or assigned to another party. The doctrine...more

Sheppard Mullin Richter & Hampton LLP

OCC Prevails in Challenge to “Valid When Made” Rule

On February 8, the U.S. District Court for the Northern District of California ruled against three states – California, Illinois, and New York – challenging the OCC’s rule on the “valid when made” doctrine. In 2020, the OCC...more

Sheppard Mullin Richter & Hampton LLP

Cannabis Legislation Year-in-Review

Although Congress failed to pass federal legislation legalizing cannabis in 2021, the push to end the federal prohibition of the ever-growing industry continues to gain steam. While Republican lawmakers have traditionally...more

Bricker Graydon LLP

County land banks ideally suited to help spend ARPA stimulus cash

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Government finance types have been in a mad scramble since March 2021 to answer the how, where and on what riddles to spending their American Rescue Plan Act (ARPA) funds. As is well-known, the federal government’s response...more

Ballard Spahr LLP

New York enacts requirements for check processing by banks

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At the end of last month, former New York Governor Cuomo signed into law a bill that amends the state’s Banking Law to require banks to follow certain check processing practices.  The amendments become effective on January 1,...more

Bradley Arant Boult Cummings LLP

A Fintech Leader’s Thoughts on the North Carolina Regulatory Sandbox Act

As part of Bradley’s continuing coverage of the North Carolina Sandbox Act, we wanted to know what community members and NC fintech aficionados thought about this proposed legislation. We posed six questions to Tariq Bokhari,...more

Foley Hoag LLP - Cannabis and the Law

The SAFE Banking Act Passes in the House, but its Fate in the Senate Remains Unclear

On April 19, the U.S. House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act in a 321-101 vote. The bill has benefitted from bipartisan support after being co-sponsored by a large group of both...more

Seyfarth Shaw LLP

The Week in Weed: April 2021 #4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana....more

WilmerHale

New York Legalizes Marijuana - Where Is the US Headed?

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It’s been an eventful week for the marijuana industry. After years of false starts, New York legalized the use of recreational marijuana on March 31 - just hours later, New Mexico legislators passed a bill to do the same....more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report — Legislative Day 32

The loss of an hour of sleep this weekend was apparent among lawmakers and lobbyists in the State Capitol today as the legislature slowly cranked back up for Legislative Day 32. Each chamber took up heavy calendars consisting...more

Holland & Knight LLP

California Dreamin': The Golden State Launches New Mini-CFPB

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Amid wildfires and viral plague, a new consumer protection agency rises in the West: The California Department of Financial Protection and Innovation (DFPI). Holland & Knight recently noted that a bill was pending on...more

Partridge Snow & Hahn LLP

Federal Reserve Board Expands Municipal Liquidity Facility Eligibility

The Federal Reserve Board has expanded the number and type of governmental entities eligible to utilize the Municipal Liquidity Facility (MLF) that was established to help state and local governments manage cash flow...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2020

President Signs New COVID-19 Relief Bill into Law, Funding Additional PPP Loans - The Paycheck Protection Program and Health Care Enhancement Act was signed into law by President Donald Trump on April 24, providing $484...more

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