In an era where “Made in USA” claims carry significant weight for consumers, the Federal Trade Commission (FTC) recently took action against Massachusetts and New Hampshire-based clothing companies for deceptive labeling practices as reported by Above the Law. The “Made in USA” label is often associated with quality and adherence to stringent American manufacturing standards….
In June 2023, the U.S. Food and Drug Administration (FDA) rolled out final guidance on administering risk and efficacy details for direct-to-consumer (DTC) promotional labelling and advertisements for prescription drug and biologic products for humans and drug products for animals. The guidance was provided to ensure the responsible provision of risk and benefit information in…
In a bid to empower legal professionals with up-to-date insights from the Consumer Finance Services industry, the recent Troutman Pepper Weekly Consumer Financial Services Newsletter offers an important chronicle of last week’s significant federal and state events. Published weekly source Troutman Pepper provides an organised, detailed, and comprehensive view into the rapidly changing landscape of…
Recent legal developments have seen an accelerated integration of Japan’s Guidelines on Business & Human Rights in the corporate sector, with employers swiftly embedding these principles into their operations. These moves signify a growing trend across the globe, triggered by the unveiling of a myriad of national and supranational business and human rights laws over…
As legal professionals working within multinational corporations and law firms largely engaged in U.S. markets, staying updated on U.S. Department of Labor (DOL) regulations is crucial. A recent hubbub surrounds the U.S. DOL’s Wage and Hour Division (WHD) and their stance on the controversial concept of “hot goods”. For those unfamiliar, the term does not…
Welcome to the Wiley Rein LLP update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). Wiley Rein LLP presents insight into the latest regulatory announcements, along with a recap of key enforcement actions. They also provide a preview of upcoming deadlines and…
In a key recent development in the legal landscape pertaining to consumer financial protection, a federal court in the Eastern District of Texas has ruled in favor of the U.S. Chamber of Commerce and several other trade associations in a case against the Consumer Financial Protection Bureau (CFPB). The court’s ruling, which was delivered on…
In the realm of financial regulation, Tuesday, September 12, 2023, was marked by riveting details coming from the Federal Reserve Bank of New York’s Center for Microeconomic Data. In the August 2023 edition of the Survey of Consumer Expectations, the data shed light on inflation expectations, which, as it turns out, saw a modicum of…
In a recent decision that has far-reaching implications for corporations and law firms, the California Superior Court delayed the enforcement of the March 29, 2023 California Consumer Privacy Act (CCPA) regulations until March 29, 2024. This announcement came as part of the court hearing on June 30, 2023, in the Cal. Chamber of Commerce v….
In recent months, the United States has witnessed a surge in state privacy laws. With this wave of legal changes, companies now find themselves grappling with an increasingly extensive list of requirements imposed by these laws. One of the law firms keeping an active track of these developments is Sheppard Mullin Richter & Hampton LLP….
In a bold move, Trump’s legal team has called for Judge Chutkan to be removed from their case. During a sentencing hearing of a lower-level participant in the January 6th riots, Judge Chutkan remarked that the organizers of the events had not been charged. Despite her not making specific mention of Trump as being involved…
Groombridge, Wu, Baughman & Stone, a U.S. patent litigation boutique firm, has announced the opening of its inaugural international office in Tokyo. The firm, which was founded last year by four previous Paul, Weiss partners, made the strategic move by bringing on board partner Maxwell Fox from McDermott, Will & Emery. This addition to their…
The mobile device tap-to-pay market is the latest subject of study for the Consumer Financial Protection Bureau (CFPB), flagging a potential precursor to new regulation, as the bureau focuses on the practices of smartphone companies and their influence on consumers’ utilization of this technology. A concrete focus of the study, published on September 7, 2023,…
In an era where cryptocurrency and blockchain-led endeavors continue to shape facets of finance, recent developments have again caught the world’s attention. Major companies are adopting new crypto-centric initiatives, there has been a noticeable shift in regulation, and financial standards boards are adapting to this new landscape with redefined accounting standards. These headlines are testament…
In an alarming development for corporate data security, Community Trust Bank, Inc. recently confirmed that a vendor data breach occurred linked to the MOVEit file-transfer application. The notice of the data security incident was provided on September 8, 2023 to the Attorney General of Maine. The breach came to light when one of the bank’s…
The world of American legal professionals has been abuzz recently as discussions center around a key Supreme Court case, one that may potentially alter the existing Chevron Judicial Deference Framework. Particularly relevant for those in consumer financial services, this development was the main focus of a virtual program at the American Bar Association Business Law…
As the pace of legal movements in the corporate world continues to accelerate, it’s vital for legal professionals to stay informed. In that spirit, we’ve compiled a weekly roundup of recent notable rulings, with a particular focus on the food and consumer packaged goods industries. In a highlight from last week, we observed an interesting…
The Director of the Consumer Financial Protection Bureau (CFPB) has announced plans to propose new regulations, targeting the growing reliance on non-traditional data sources in the field of consumer finance. This decision stems from the concern over recent transformations in the way banks and finance companies approach the management of loans. Previously, banks and finance…
In a recent move by the Federal Communications Commission (FCC), the agency has released an Order on Reconsideration, aimed at addressing petitions that sought clarification on certain broadband labeling requirements. The order follows the FCC’s initial rollout of broadband labeling specifications, necessitating a more detailed explanation and reconsideration in response to the waves of inquiries…
The rise in digital communication and technology has seen an increase in complex scams – one that has recently surfaced involves the exploitation of INTERPOL’s Red Notices. A fake INTERPOL agent contacts an individual, claiming that there are cases held against them. This unfortunate scheme was highlighted in a situation where a local reader of…
In a recent episode of “The Justice Insiders Podcast” titled ‘Incidents in the Material World: SEC Adopts New Cybersecurity Rules‘, Gregg N. Sofer, the host welcomed guest Erik Dullea, a partner at Husch Blackwell. The discussion centered around risk management, strategy, governance, and incident disclosure, all in relation to the recent cybersecurity rules adopted by…
As reported by JD Supra, the Consumer Financial Protection Bureau (CFPB) posted guidance to their website on September 1, affirming guidance on the Real Estate Settlement Procedures Act (RESPA). The guidance was initially issued by the Department of Housing and Urban Development (HUD). RESPA, enacted by Congress in 1974, has been designed to provide consumers…
The first half of 2023 witnessed a surge of activity in the privacy and data security domains. With a special focus on the insurance industry, there were a slew of noteworthy developments. These changes and updates have primarily been led by the reputed law firm, Faegre Drinker Biddle & Reath LLP. Continuing our comprehensive coverage…
The Federal Deposit Insurance Corporation (FDIC) announced on September 5 the launch of a new Banker Engagement Site (BES) through their platform FDICconnect. Aimed to provide a secure and efficient electronic portal, BES will facilitate the exchange of documents, information and communications between financial institutions and the FDIC for compliance with consumer protection laws and…
The Consumer Financial Protection Bureau (CFPB) has lodged an opposition to a motion for a preliminary injunction submitted by a consortium of Kentucky banks (plaintiff banks) in the U.S. District Court for the Eastern District of Kentucky, an emerging development highlight in recent news reports. At the center of this dispute is the Small Business…