The UK’s HM Treasury has recently published its response to its consultation on the future of UK retail disclosures. The publication comes after a comprehensive consultation process that identified numerous issues with the existing Packaged Retail and Insurance-Based Investment Products Regulation (PRIIPs). The consultation, as noted in a client briefing of the multinational law firm,…
In an unprecedented joint action, bankers associations from every U.S. state penned a shared letter to the Consumer Financial Protection Bureau (CFPB or Bureau) on August 8, voicing their collective request for a delay in the enforcement and implementation of the small business data collection and reporting final rule stipulated under § 1071 of the…
As the global landscape of data privacy and security regulations continues to expand and become more complex, it is imperative for businesses to remain vigilant and well-informed. Jason Patel of Cheq.ai, a known name in go-to-market security, recently shed some light on this issue during his conversation with Compliance Evangelist, Thomas Fox. Thomas Fox’s conversation…
Radius Global Solutions, LLC, a major player in the business services arena, recently disclosed that they suffered a significant data breach due to vulnerabilities in their MOVEit server. The details surrounding the breach were clarified in a notice, filed with the U.S. Department of Health and Human Services Office for Civil Rights on August 4,…
The Consumer Financial Protection Bureau (CFPB) has reportedly initiated a lawsuit against the car loan servicer, USASF Servicing, LLC. The lawsuit alleges that USASF Servicing engaged in illegal practices harmful to consumers with car loans, described as a violation of the Consumer Financial Protection Act of 2010. The car loan servicer is accused of exploiting…
Intellectual property rights are increasingly pivotal in the modern world, symbolic of stature and power for numerous corporations and brands. One company at the forefront of leveraging Intellectual Property (IP) rights is Mattel, Inc. The world-renowned toy manufacturing company has embarked on a path that places its iconic Barbie brand at the center of an…
In a very crucial development, the Consumer Financial Protection Bureau (CFPB) published its Summer 2023 Supervisory Highlights on July 26, 2023. The report comes into the foreground particularly for its focus on alleged unfair, deceptive, and abusive acts or practices (UDAAP) violations uncovered during the recent supervisory examinations. The CFPB’s report not only exposes UDAAP…
In a significant development within the sphere of consumer financial protection, a New York federal court has placed a hold on a lawsuit filed jointly by the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NYAG). The lawsuit, against an auto finance company, details alleged violations of the Consumer Financial Protection Act…
The enforcement of the California Privacy Rights Act (CPRA) of 2020 Final Regulations by the California Privacy Protection Agency has hit a roadblock. The initiative was halted on June 30, 2023, by a California Superior Court, just as enforcement was about to be rolled out. This development was recently reported by JD Supra. With this…
Global Atlantic Financial Group (“Global Atlantic”) suffered a data breach at Pensions Benefits Information, LLC, one of its third-party vendors. The breach, related to the MOVEit software system, was announced on August 8, 2023, filling with the Massachusetts Attorney General. Details from the notice provided by Global Atlantic conveyed that an unauthorized party gained access…
In a landmark move, the Food and Drug Administration (FDA) issued their inaugural draft guidance on the registration and listing of cosmetic product facilities and products on August 7, 2023. This is per the new obligations sanctioned under the Modernization of Cosmetics Regulation Act of 2022 (MoCRA). Under this directive, it is now mandatory for…
The latest ruling in a Colorado federal court concerning the Telephone Consumer Protection Act (TCPA) is attracting attention from legal professionals worldwide. The court in question decided not to dismiss a TCPA claim and stated that an automatic telephone dialing system (ATDS) was plausibly alleged. This decision is largely based on the reasoning found in…
Montgomery County, Maryland has implemented a new comprehensive law that caps annual rent increases on rental housing in the area at 6%. This regulation restricts hikes to three percent above the Consumer Price Index(CPI). However, the law doesn’t apply universally; it features several key exemptions. The most significant of these exemptions apply to units located…
On May 11, 2023, the state of Tennessee witnessed a significant shift in data privacy norms as Governor Bill Lee signed the Tennessee Information Protection Act (TIPA) into law. Joining the rapidly growing ranks of U.S. states to advance comprehensive data privacy legislations, Tennessee’s move comes in line with increasing calls for robust digital rights…
The Loren D. Stark Company (LDS), a reputable firm managing retirement accounts, recently reported a data breach incident. The company filed a notice with the Vermont Attorney General on August 4, 2023, acknowledging that it had been the victim of a significant cyberattack. The assailant was reported to have gained unauthorized access to consumers’ confidential…
On a recent development in TCPA (Telephone Consumer Protection Act) case law, a district court judge in the Central District of California denied a motion for class certification. This case featured in the proceeding was Wiley v. American Financial Network, Inc. The judge’s decision was reportedly influenced by evidence provided by the defendant, American Financial…
In a world where generative AI is becoming an increasingly fundamental part of the modern economy, it’s not just technologists and innovators who are taking note. The artificial intelligence sector is also under the scrutiny of competition enforcers and consumer protection agencies. Concerns continue to mount over the technology’s potential to foster unfair competition methods….
Proposed legislation introduced earlier this spring in the New York State Legislature could potentially lessen the hurdles faced by unauthorized insurers looking to offer excess lines coverage in New York. This development could also potentially broaden the scope of that market. Normally, such coverages are only available when no or inadequate coverage exists in the…
In a concerted effort to curb illegal telemarketing activities, the Federal Trade Commission (FTC) and Federal Communications Commission (FCC) have partnered for a multijurisdictional campaign known as “Operation Stop Scam Calls”. This initiative underscores intensifying government strategies to cease unwanted and illegal phone calls and texts that have continued to distress consumers across various jurisdictions….
Recent updates to the Federal Trade Commission’s (FTC) Endorsement Guides show a clear intention to bring virtual influencers under the same regulatory standards as their human counterparts. As virtual influencers continue to rise in popularity, the question of how to adequately contract with such entities is increasingly asked in marketing departments. According to JD Supra,…
A recent lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) final small business lending rule has highlighted an ongoing debate about the extension of relief to all entities covered by the Rule. Last week, a blog post called for the CFPB to agree to such an extension, following a decision by the Texas federal district…
On March 29, 2021, the U.S. Food and Drug Administration (FDA) issued its draft guidance document on the facility registration and product listing requirements for cosmetic companies under the Modernization of Cosmetics Regulation Act (MoCRA). The move aims to streamline the process and ensure transparent reporting in the cosmetics industry. Alston & Bird, the esteemed…
In an effort to enhance transparency within the nursing home sector, the Centers for Medicare & Medicaid Services (CMS) have commenced publishing affiliations of nursing home on Nursing Home Care Compare. The undertaking by CMS aims to facilitate consumers in identifying related institutions in a more streamlined manner, in addition to enabling an understanding of…
On August 7, the National Association of Federally-Insured Credit Unions (NAFCU) and the Credit Union National Association (CUNA) approached the Consumer Financial Protection Bureau (CFPB or Bureau) with a joint appeal. The two influential credit union trade associations collectively requested that the CFPB delay enforcement and implementation of the small business data collection and reporting…
In a significant development, the U.S. Court of Appeals for the Eleventh Circuit issued a unanimous opinion in Drazen v. Pinto, No. 21-10199, 2023 U.S. App. LEXIS 18832, at *1 (11th Cir. July 24, 2023). The court held that receipt of a single unwanted telemarketing text message can be seen as a concrete injury sufficient…