The United States continues to witness an increasing emphasis on data privacy laws with Delaware becoming the latest state to implement comprehensive data privacy legislation. With this move, Delaware joins the intermittent, yet growing list of U.S. states with enacted state-level data privacy laws. The primary push for such legislation arises from the mounting public…
In a recent move against “junk fees,” the Federal Trade Commission (FTC) has issued a proposed rule, “Rule on Unfair or Deceptive Fees.” The rule aims to provide better protection to consumers against deceptive charges for goods and services that offer little or no added value. Read more here. This proposal comes as part of…
On a recent note, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK have published consultation papers putting forth an array of measures meant to advance diversity and inclusion (D&I) within the UK’s financial sector. Their vision targets not only the establishment of healthier firm cultures but also the minimisation…
In 2007, attorney Dennis Block told the LA Times that he viewed it as his “patriotic duty” to evict people from rent-controlled properties. Today, we might argue that there’s another duty worth remembering as a legal professional. Recently, Block’s firm was reminded by a judge not to file briefs with fake cases. This echoes the…
Between October 11 and November 7, 2023, Ohio will become the latest state in the US to contemplate the legalization of recreational marijuana use for adults. Voters will decide whether to approve Issue 2 – a voter-initiated law named “To Commercialize, Regulate, Legalize and Tax the Adult Use of Cannabis”. A simple majority vote is…
In a bid to curb so-called “junk fees” on various consumer purchases such as concert tickets or hotel rooms, the Federal Trade Commission (FTC) has proposed a comprehensive ban on such hidden and deceptive charges. This move is a part of the Biden administration’s battle against ostensible fees. Under this new rule, firms will be…
California Governor Gavin Newsom recently signed into law the much-debated Delete Act, a striking move that could have extensive implications for data brokers and IT companies operating within the state. The new legislation, originally passed by the state legislature last month handily amends the California Consumer Privacy Act (CCPA) by making it relatively simple for…
The Consumer Financial Protection Bureau (CFPB) recently published new recommendations to direct lenders’ responsibilities under the Equal Credit Opportunity Act (ECOA) and Regulation B when it comes to adopting artificial intelligence (AI) or advanced algorithms in their credit decisions. As outlined by Husch Blackwell LLP , the significance of this recommendation is unequivocal: it is…
In a recent development, the Consumer Financial Protection Bureau (CFPB) has issued an advisory opinion about charges imposed by large banks and credit unions in response to information requests. This has been part of a broader initiative by the CFPB, initiated last year, aimed at the elimination of various “junk fees”.Read more here. The advisory…
In a latest lawsuit launched by the Consumer Financial Protection Bureau (CFPB), a non-bank residential mortgage loan originator has been accused of breaching the Home Mortgage Disclosure Act (HMDA) via inaccurate HMDA data for the year 2020. As per the complaint raised in the U.S. District Court for the Southern District of Florida, it appears…
On September 15, 2023, the New York City Department of Consumer and Worker Protection unveiled a Final Rule that primarily amends and clarifies the governance of the Earned Safe and Sick Time Act (the Act). According to JD Supra, this Final Rule also works to align the Act more closely with the 2020 New York…
In this week’s roundup of notable rulings, we glance over key court decisions that have the potential to shape legal practices within the food and consumer packaged goods terrain, with a spotlight on Igor Zapadinsky v. Blue Diamond Growers. In the case of Igor Zapadinsky v. Blue Diamond Growers, No. 2:23-cv-00231-JPS (August 7, 2023), the…
In line with its commitment to safeguard consumers’ rights and establish transparency in commerce, the Federal Trade Commission (FTC) has put forth a proposal that could fundamentally alter the operational landscape of several industries. The proposal aims to ban the imposition of so-called "Junk Fees" – extraneous charges that companies often slip into the final…
The Federal Trade Commission (FTC) has strengthened its regulatory eye towards influencer marketing’s impact on young consumers, particularly children and teenagers. This action evolved from a workshop that took place a year ago and was dubbed, “Protecting Kids from Stealth Advertising in Digital Media.” As reported by JD Supra, the workshop aimed to delve into…
The U.K.’s HM Treasury has initiated a consultation focussed on the proposed near-term reforms for the country’s ring-fencing regime, described by officials as “A Smarter Ring-Fencing Regime.” The development also involves revealing its response to requests for information on the practical aspects of synchronizing the bank’s ring-fencing and resolution regimes. The government initially announced these…
Addressing the rapidly expanding Internet of Things (IoT) ecosystem, the Federal Communications Commission (FCC) has put forth a proposal for a new voluntary cybersecurity labeling program. This initiative aims to offer consumers simple-to-understand information regarding the security of their IoT devices. As indicated in the proposal, an expansive array of connected devices could potentially receive…
In recent times, the global consumer finance landscape has been progressively dominated by digital payment systems. While these technological advancements have introduced efficiency and convenience to the industry, they have also notably impacted certain demographics, specifically low-income consumers. Concerns are emerging about the implications of this trend and its potential to further deepen the societal…
Publicly traded companies, including financial services corporations, are facing a new requirement to implement clawback policies that mandate the recoupment of erroneously awarded incentive compensation. As Troutman Pepper Partners Chris Willis and Sheri Adler have explained in their recent Consumer Finance Podcast, these companies must have such policies in place by December 1, 2023. Legal…
In an unprecedented move, on July 20, 2023, the Department of Health and Human Services (DHHS) via the Office of Civil Rights (OCR) and the Federal Trade Commission (FTC) have jointly issued a cautionary letter to hospital systems and telehealth providers. This letter comes in response to growing concerns related to the privacy and security…
In light of persistent inaction at the national level, states have taken the initiative to pass their own versions of cybersecurity and privacy laws. However, these efforts are plagued by problems that arguably worsen the landscape of these issues. Technological innovations have raced past legislative attempts to supervise and monitor them, leading to rising instances…
US companies have been given the go-ahead to digitally transfer consumers’ personal data from the United Kingdom under a new arrangement that avoids additional protective measures. The newly revised compliance framework came into operation on Thursday, enabling companies satisfying eligibility criteria to use the international data bridge. The conditions for eligibility include companies’ self-certification of…
Google, the multinational technology giant, is confronting significant financial ramifications in the face of recent legal disputes over data privacy. The company has agreed to settlements totaling $155 million to resolve both a government investigation and a class-action lawsuit, both of which targeted Google’s use of consumer location data. The class-action lawsuit was brought forth…
The Connecticut Banking Commissioner, acting in capacity through the Consumer Credit Division of the Department of Banking, has reduced the fine levied against the Law Offices of David M. Katz, a now-defunct collection firm. The procedural decision emerges after an in-depth investigation into the firm’s operations in 2018 and 2019. According to the JD Supra…
Utah has initiated a lawsuit against popular social media platform TikTok, alleging it knowingly creates an “addicting” platform detrimental to children’s mental health. The State accuses TikTok of violating the Utah Consumer Sales Practices Act (UCSPA) through three primary allegations. Firstly, the state claims that the innate nature of TikTok is addictive, crafted to manipulate…
The U.S. Consumer Product Safety Commission (CPSC) has recently published a request for information (RFI) relating to per- and polyfluoroalkyl substances (PFAS) used in commerce. According to JD Supra, the CPSC is particularly focused on PFAS that are used or potentially used in consumer products, with a keen interest in potential exposures associated with the…