A coalition of 22 State Attorneys General (AGs), spearheaded by Tennessee AG Jonathan Skrmetti, has issued a warning to members of the Net Zero Financial Service Providers Alliance (NZFSPA). The letter, sent on September 13, cautions that the commitment to support “global net zero greenhouse gas emissions by 2050 or sooner” may be in violation…
Sam Levine, the director of the Federal Trade Commission’s Bureau of Consumer Protection, recently spoke at the annual conference of the National Advertising Division and laid out the agency’s chief priorities for the near future. This information was reported by Venable LLP. Although the full text of Levine’s speech is not accessible publicly, we can…
In response to a petition filed last week by numerous consumer advocacy groups, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it will be seeking public input on a new rule that could potentially curtail mandatory pre-dispute arbitration provisions. The petition signatures suggest a heightened public interest in re-balancing arbitration practices. This announcement…
The Harvard Law AI Summit, a private event held by the Library Innovation Lab at Harvard Law School, sparked compelling discussions on the implications and challenges of generative AI in law areas. The key takeaways underscore the mounting recognition of the importance, and yet the complexity, of the role AI is set to play in…
Legal professionals in the corporate field and especially those in the healthcare industry might be intrigued by recent developments in insurance law. This August, a working group sponsored by the National Association of Insurance Commissioners (NAIC) unanimously approved revisions to the NAIC’s Unfair Trade Practices Act Model #880. This legislative model, more commonly referred to…
Renowned casino operator, Caesars, recently suffered a significant data breach that has raised brows and underscored the increasing cybersecurity threats facing the gambling industry. The breach, which has had an impact on its customer loyalty program, was a result of a sophisticated social engineering attack, according to the casino’s disclosure in an 8-K SEC filing…
Ever since its enactment in 1990, the Clery Act has played a pivotal role in fostering transparency within institutions of higher education concerning on-campus crime statistics and security policies. Under the Act, colleges and universities are expected to publish an Annual Security Report (ASR) documenting various consumer awareness information such as the institution’s safety and…
New York City employers have been granted until October 15, 2023, to ensure conformity of their safe and sick leave policies with local law. As reported by Fox Rothschild LLP, this development is a result of the Final Rule issued on September 15, 2023, by the New York City Department of Consumer and Worker Protection (DCWP)….
In an essential notice to legal professionals worldwide, the deadline for gag clause attestations – December 31, 2023 – is fast approaching. For those sponsoring a group health plan, it’s of utmost importance to set a calendar reminder well before the end of the year. This is to submit the annual gag clause prohibition compliance…
In a move that has captured the attention of the financial legal world, the Commodity Futures Trading Commission (CFTC) issued three enforcement settlement orders against developers of decentralized finance (DeFi) protocols on September 7, 2023. This is a notable action due to the still emerging and relatively unregulated nature of the DeFi sector. The orders…
The question whether more food safety regulation is beneficial has always been a hot debate topic among stakeholders. Those who argue in favor of more stringent regulations point towards the many food-safety related scandals and the necessity of preventative measures. On the contrary, those opposed to overregulation highlight how it can hamper productivity, innovation, and…
The online travel industry is witnessing an interesting phenomenon as the competition authorities across the globe present their diverse perspectives on the proposed merger of Booking Holdings and eTraveli. Notably, the UK’s Competition and Markets Authority (CMA) has fundamentally different views on this merger than European competition counterparts. The situation represents an intriguing divergence in…
High-profile mergers and acquisitions often garner both media attention and the watchful eye of the Federal Trade Commission (FTC). However, deals that fall below the $100-$110 million threshold escape the FTC’s purview, as they are not required to be reported. This gap in regulatory oversight has been brought into sharp relief by FTC Chair Lina…
The evolving landscape of construction is leaning heavily toward sustainable or “green” practices. Not only is this shift influenced by governmental legislation, tax incentives, and industry developments but a significant push is also coming from consumers, corporations, and shareholders. A recent article in Properties Magazine reveals how the industry’s key players are allocating the risks…
As legal professionals cloaked in the complexities of regulatory news, it’s crucial to stay abreast of the current legal landscape. The recent State Attorney General (AG) report provides a number of key insights. The report presents several highlighted stories that detail significant decisions of state and federal regulators across the United States. These decisions have…
In a recent press release, Canada’s Prime Minister has announced the first set of proposed modifications to the Competition Act. The announcement also mentioned that more comprehensive legislative reforms are on the horizon in the months to come. The competition act reform has been a topic of discussion since the federal government launched a consultation…
The UK’s Financial Conduct Authority (FCA) recently published a policy statement (PS23/13), introducing a “gateway” for companies that approve the financial promotions of unauthorised firms. The policy statement supports the amendments made to the Financial Services and Markets Act 2000 (FSMA) by the newly enacted Financial Services and Markets Act 2023 (FSMA 2023). According to…
September 2023 was marked by a shakeup within the Consumer Finance sector, particularly within the realms of UK & European Financial Services M&A. According to a recent report, Europe’s consumer finance decacorns faced a tough time, with their valuations significantly declining. This setback among the consumer finance decacorns suggests that businesses and investors should tread…
As artificial intelligence (AI) and generative AI (GAI) are increasingly incorporated into business operations, legal professionals must remain vigilant of the potential risks associated with the deployment of these AI solutions. Despite the absence of a comprehensive law governing AI, regulators have means to hold businesses accountable. These regulatory tools are particularly focused on promoting…
Tel-Aviv based legal tech startup, Darrow, has successfully secured $35 million in a series B investment round. The leading investor in this round is investment firm Georgian, with continued support from prior investors, including F2, Entrée Capital, and NFX. The company, known to industry insiders as a “justice intelligence platform,” leverages generative AI to scrutinize…
On Saturday, September 11, Delaware Governor John Carney appended his signature to the Delaware Personal Data Privacy Act (DPDPA). This enactment, framed under House Bill 154, denotes the thirteen U.S. state to adopt a sweeping data privacy framework. It comes in the wake of similar legislation recently passed in states such as Connecticut and Oregon….
In the 118th Congress, the US House of Representatives is engaged in the critical issue of healthcare price transparency. Three key House committees—Energy and Commerce, Ways and Means, and Education and the Workforce—have each approved unique legislation purposed toward advancing price transparency objectives. The primary aim of these legislative pieces is to formally recognize (and…
Design patents play a distinct role in intellectual property law, often winding up in disputes between competitors. These cases can frequently escalate all the way to the Federal Circuit for review, if settlements are not reached. A prime example of this is last week’s significant decision in Columbia v. Seirus, which stirred prominent discussions in…
The U.S. Environmental Protection Agency (“EPA”) has recently made a proposal to prohibit most industrial and commercial uses of perchloroethylene (“PCE”). This regulation would also disallow manufacturing, processing, and distribution of PCE for all consumer uses. PCE is a chlorinated solvent widely used across various industries, including automotive and manufacturing. The impact of this prospective…
The Consumer Financial Protection Bureau (CFPB) has recently revealed on its website a final rule centered around an array of annual adjustments the institution is mandated to make under the provisions of Regulation Z (TILA). These provisions lay down the framework and implement the CARD Act, Home Ownership and Equity Protection Act (HOEPA), and the…