State AG Pulse | Vermont: Small Is Mighty
The FDIC is urging financial institutions it supervises to voluntarily submit self-assessments of their diversity policies and practices to the agency by Oct. 31, 2024....more
On June 27, 2024, the United States Supreme Court issued a landmark decision in SEC v. Jarkesy, ruling that the Securities and Exchange Commission’s (SEC) use of in-house tribunals for civil penalties in securities fraud...more
On June 20, six federal financial services regulators issued the final automated valuation model (AVM) rule. The AVM rule, initially proposed in June 2023 and discussed here, aims to implement the quality control standards...more
The U.S. Supreme Court issued an opinion in Cantero v. Bank of America, N.A., No. 22-529, allowing states to enforce state consumer financial protection laws against both state and national banks. The Court was reviewing the...more
On May 30, 2024, the U.S. Supreme Court held in a unanimous decision that the preemption standard codified in section 1044 (12 U.S.C. § 25b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) requires...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
A new Connecticut law expands the authority of the state’s attorney general to enforce certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act)....more
“Although there may be other constitutional checks on Congress’ authority to create and fund an administrative agency, specifying the source and purpose is all the control the Appropriations Clause requires.” With these...more
On May 16, 2024, the Supreme Court reversed a Fifth Circuit decision which held that the funding for the Consumer Financial Protection Bureau (CFPB) violated the Appropriations Clause. This case was viewed as pivotal to the...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
Consumer reporting dominates complaints to the Consumer Financial Protection Bureau (CFPB), according to a new report....more
On January 24, 2024, a week after issuing its proposed rulemaking for overdraft services, the Consumer Financial Protection Bureau (“CFPB”) issued its proposed rulemaking on non-sufficient funds (NSF) fees....more
Late last month, the Revenue Based Finance Coalition (RBFC), a trade group of sales-based financing providers, filed a complaint in the U.S. District Court for the Southern District of Florida challenging the Consumer...more
A bond issue (a debt obligation of a local government) is often perceived as a mystery for many Pennsylvania local government officials and solicitors. The securities and tax regulations governing municipal bonds have grown...more
As discussed here, this summer, Representative Roger Williams (R-Texas) and Senator John Kennedy (R-La.) introduced identical Congressional Review Act (CRA) resolutions in the U.S. House and Senate (H.J. Res. 66 and S. J....more
Public companies nationwide have spent their summer and fall compensation seasons finalizing compensation clawback policies ahead of the December 1, 2023 deadlines set by the New York Stock Exchange (the “NYSE”) and the...more
In a major victory for small business lenders, yesterday the U.S. District Court for the Southern District of Texas granted motions filed by three groups of trade association intervenors to extend the court’s existing...more
The SBIC Program - A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the U.S. Small Business Administration...more
Revised deadlines for initial Schedule 13D and Schedule 13G filings: Schedule 13D: within five business days (rather than 10 calendar days) after crossing the 5% beneficial ownership threshold or losing eligibility to file...more
Welcome to this week's issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. The accelerating advances in artificial intelligence (“AI”) and the practical,...more
In Short - The Situation: The civil action of the Commodity Futures Trading Commission ("CFTC") against Archegos Capital Management LP and its CFO is but one of many civil and criminal matters arising out of Archegos's...more
This summer, Representative Roger Williams (R-Texas) and Senator John Kennedy (R-La.) introduced identical Congressional Review Act (CRA) resolutions in the U.S. House and Senate (H.J. Res. 66 and S. J. Res. 32, respectively)...more
The U.S. Securities and Exchange Commission (“SEC”), in a couple of recent settled actions, continues to warn companies that the practice of requiring departing employees to sign comprehensive releases in return for...more