Compliance

  • July 31, 2024

    Discover Could Pay $200M In Card 'Misclassification' Fines

    Discover Financial Services told investors on Wednesday that it could face $200 million in potential regulatory penalties over its past "misclassification" of certain credit card accounts, an issue that's also led to class action litigation and other scrutiny for the card giant.

  • July 31, 2024

    GoDaddy Asks To Have Tech Co.'s Antitrust Suit Culled

    Domain registrar GoDaddy is asking a Virginia federal court to knock out half of a lawsuit accusing it of blackballing a tech company from its platform, saying that after failing to secure a licensing deal, the suing company "has now turned to antitrust law to try to compel a result it could not obtain through arms-length negotiation."

  • July 31, 2024

    EPA Looks To Dismiss States' Water Rule Challenge

    The U.S. Environmental Protection Agency is asking a Louisiana federal court to toss a group of conservative-leaning states' and energy industry groups' lawsuit attempting to sink its rule broadening states' and tribes' power to veto infrastructure projects over water quality concerns.

  • July 31, 2024

    HSBC Says HUD Has Closed Fair Lending Probe

    HSBC's U.S. banking arm said it is no longer facing a multicity fair lending investigation from federal housing authorities after an outside complaint that prompted the probe was withdrawn.

  • July 31, 2024

    Pipeline Cos. Can Join FERC Approval Fight

    Companies behind a liquefied natural gas facility in Sonora, Mexico, and the Saguaro Connector Pipeline that will help serve it can weigh in on a challenge of Federal Energy Regulatory Commission approvals for the pipeline, the D.C. Circuit said Wednesday.

  • July 31, 2024

    Wells Fargo Hit With Suit Over Cash Sweep Program

    Wells Fargo was hit with a proposed class action by a customer claiming the bank's cash sweep investment program only allows users to sweep their cash into Wells Fargo-selected accounts, a practice the suit says has drawn regulatory scrutiny because it disproportionately benefits the bank.

  • July 31, 2024

    Quality Not Baked Into NC Hospital Deal, HCA Tells Biz Court

    A for-profit healthcare network has asked the North Carolina Business Court to find that its contract to buy an Asheville hospital didn't specify the quality of services it must provide, saying the state attorney general has sought to impose demands that don't exist.

  • July 31, 2024

    737 Max Families Say Boeing Deal 'Morally Reprehensible'

    Families of victims of the 737 Max 8 crashes asked a Texas federal court Wednesday to reject Boeing's plea agreement with the U.S. Department of Justice, saying the "rotten deal" lets the American aerospace giant skirt culpability for the deaths of 346 people.

  • July 31, 2024

    Fla. Electric Co. Ex-CEO Gets 4 Years For Privatization Plot

    A Jacksonville, Florida, federal judge sentenced a former CEO of the city's electric company to four years in prison after a jury convicted him of fraud conspiracy charges in a multimillion-dollar embezzlement scheme connected to a process to privatize the public utility, prosecutors said Wednesday.

  • July 31, 2024

    Inhaler Patents 'Must Be' In Orange Book, Teva Tells Fed. Circ.

    Teva Pharmaceuticals USA Inc. urged the Federal Circuit to upend a lower court decision ejecting inhaler device patents from an important government database, arguing that the delisting, won by Amneal Pharmaceuticals Inc. in an infringement lawsuit, ignores broad protection envisioned under intellectual property law.

  • July 31, 2024

    EPA Floats Ban On Many Uses Of Carcinogen 1-BP

    The U.S. Environmental Protection Agency on Wednesday proposed banning all consumer uses of the carcinogen 1-bromopropane — except in insulation — as well as some industrial and commercial uses.

  • July 31, 2024

    Historical Association Backs Tribes In SunZia Power Line Row

    The National Association of Tribal Historic Preservation Officers is asking the Ninth Circuit to intervene in a challenge by a coalition of Native American tribes and environmentalists seeking to block SunZia Transmission from routing a 520-mile power line through important cultural and historical sites in the San Pedro Valley.

  • July 31, 2024

    Separate Easement Contribution Docs Critical, IRS Atty Says

    Conservation easement donors must always keep separate documents from their donees that acknowledge the gifted property to qualify for a charitable tax deduction in the event the IRS requests such information during an audit, according to an agency counsel Wednesday.

  • July 31, 2024

    SEC Settles Reg BI Case Against Calif. Broker-Dealer

    The U.S. Securities and Exchange Commission announced Wednesday it has agreed to settle allegations that Western International Securities Inc. sold more than $13 million in high-risk debt securities to those with lower risk profiles, marking the potential end of a first-of-its kind enforcement action claiming violations of Regulation Best Interest.

  • July 31, 2024

    5th Circ. Pause Spells Doom For DOT Airline Fees Rule

    The Fifth Circuit gave the airline industry a temporary reprieve from a new U.S. Department of Transportation rule requiring carriers to more clearly disclose add-on fees upfront, a decision that stands to embolden opponents of the Biden administration's more aggressive consumer-focused policies.

  • July 31, 2024

    PayPal Alum Joins Forensic Consultancy As Crypto Leader

    Compliance consultancy and investigations firm Forensic Risk Alliance said Wednesday that it's hired an alum of PayPal and Paxos to direct its global cryptocurrency investigations and compliance practice.

  • July 31, 2024

    DraftKings Closes NFT Platform Over 'Legal Developments'

    DraftKings has announced that it is shuttering its nonfungible token marketplace due to "recent legal developments," with the decision coming weeks after a Massachusetts federal judge permitted a proposed securities class action involving the marketplace to move forward.

  • July 31, 2024

    Dutch Regulators OK Freshfields-Guided Asset Exchange

    A Dutch digital asset exchange is touting itself as the first widely accessible and regulated crypto derivatives exchange in Europe after receiving a license from the government of the Netherlands, aided by the guidance of Freshfields Bruckhaus Deringer LLP, the firm has announced.

  • July 31, 2024

    Saul Ewing Adds 2 Employee Benefits Attys On East Coast

    Saul Ewing LLP announced Wednesday that it has grown its employee benefits and executive compensation practice on the East Coast with two attorneys, one from Ivins Phillips & Barker and another from Hogan Lovells.

  • July 31, 2024

    Judge Won't Undo IRS' Pause On Worker Retention Credits

    An Arizona federal judge rejected a tax advisory firm's request to lift the IRS' pause on processing claims for the pandemic-era employee retention credit, saying he wasn't eager to stop the agency from addressing the fraud it alleges has been widespread.

  • July 30, 2024

    DOJ Says Norfolk Southern To Blame For Amtrak Delays

    The U.S. Department of Justice on Tuesday accused Norfolk Southern Corp. of illegally refusing to give passenger trains preference over freight trains, leading to widespread delays for Amtrak passenger trains on the route between New York and Louisiana last year.

  • July 30, 2024

    11th Circ. Upholds Geofence Warrant In Carjacking Case

    The Eleventh Circuit on Tuesday rejected a convicted carjacker's attempt to quash a geofence warrant that allowed law enforcement to obtain information from cellphones within a certain geographic area, finding that the man lacked standing to challenge a search that revealed no information from his own electronic device. 

  • July 30, 2024

    Amazon Must Recall Unsafe Third-Party Products, CPSC Says

    Amazon bears legal responsibility for recalling the hundreds of thousands of products sold by third-party sellers on its site that are defective or fail to meet safety standards, the U.S. Consumer Product Safety Commission found in an order issued Monday.

  • July 30, 2024

    Tribe Says Sovereignty 'Sea Change' At Stake In Tobacco Row

    A California tribe has opposed the U.S. government's bid to toss its suit fighting placement on a "non-compliant list" under a law that targets tobacco trafficking, telling a federal judge that forcing it to stop sales would cause a "sea change" in tribal sovereignty.

  • July 30, 2024

    FDIC Moves To Revamp Brokered Deposit Regs In Policy Push

    The Federal Deposit Insurance Corp. on Tuesday unveiled a proposal that would subject more bank deposits to heightened regulation as "brokered" funds, outlining new rules that the agency pitched as addressing risks highlighted by failures of firms like First Republic Bank and Voyager, a crypto lender.

Expert Analysis

  • A Timeline Of Antisemitism Legislation And What It Means

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    What began as hearings in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and related issues, with wide-ranging implications for education, finance and nonprofit entities, say attorneys at Morgan Lewis.

  • Criminal Enforcement Considerations For Gov't Contractors

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    Government contractors increasingly exposed to criminal liability risks should establish programs that enable detection and remediation of employee misconduct, consider voluntary disclosure, and be aware of the potentially disastrous consequences of failing to make a mandatory disclosure where the government concludes it was required, say attorneys at Crowell & Moring.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • Navigating The Extent Of SEC Cybersecurity Breach Authority

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    The U.S. Securities and Exchange Commission's broad reading of its authority under Section 13(b)(2)(B) of the Securities Exchange Act in the R.R. Donnelley and SolarWinds actions has ramifications for companies dealing with cybersecurity breaches, but it remains to be seen whether the commission's use of the provision will withstand judicial scrutiny, say attorneys at Sullivan & Cromwell.

  • 50 Years Later, ERISA Remains A Work In Progress

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    A look at the 50 years since the Employee Retirement Income Security Act’s passage shows that while the law safeguards benefits through vesting rules, fiduciary responsibilities and anti-discrimination provisions, the act falls short in three key areas, says Carol Buckmann at Cohen & Buckmann.

  • FERC Rule Is A Big Step Forward For Transmission Planning

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    The Federal Energy Regulatory Commission's recent electric transmission system overhaul marks significant progress to ensure the grid can deliver electricity at reasonable prices, with a 20-year planning requirement and other criteria going further than prior attempted reforms, say Tom Millar and Gwendolyn Hicks at Winston & Strawn.

  • Navigating FDA Supply Rule Leeway For Small Dispensers

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    As the November compliance deadline for the U.S. Food and Drug Administration's new pharmaceutical distribution supply chain rules draws closer, small dispensers should understand the narrow flexibilities that are available, and the questions to consider before taking advantage of them, say attorneys at Faegre Drinker.

  • Best Text Practices In Light Of Terraform's $4.5B Fraud Deal

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    Text messages were extremely important in a recent civil trial against Terraform Labs, leading to a $4.5 billion settlement, so litigants in securities fraud cases need to have robust mobile data policies that address the content and retention of messages, and the obligations of employees to allow for collection, say Josh Sohn and Alicia Clausen at Crowell & Moring.

  • Series

    Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • CFPB's New Registration Rule Will Intensify Nonbank Scrutiny

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    The Consumer Financial Protection Bureau's recently finalized nonbank registration rule aimed at cracking down on repeat offenders poses significant compliance challenges and enforcement risks for nonbank financial firms, and may be particularly onerous for smaller firms, say Ketan Bhirud and Emily Yu at Cozen O'Connor.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Why High Court Social Media Ruling Will Be Hotly Debated

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    In deciding the NetChoice cases that challenged Florida and Texas content moderation laws, what the U.S. Supreme Court justices said about social media platforms — and the First Amendment — will have implications and raise questions for nearly all online operators, say Jacob Canter and Joanna Rosen Forster at Crowell & Moring.

  • 6 Lessons From DOJ's 1st Controlled Drug Case In Telehealth

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    Following the U.S. Department of Justice’s first-ever criminal prosecution over telehealth-prescribed controlled substances in U.S. v. Ruthia He, healthcare providers should be mindful of the risks associated with restricting the physician-patient relationship when crafting new business models, says Jonathan Porter at Husch Blackwell.

  • Realtor Settlement May Create New Antitrust Pitfalls

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    Following a recent antitrust settlement between the National Association of Realtors and home sellers, practices are set to change and the increased competition may benefit both brokers and homebuyers, but the loss of the customary method of buyer broker compensation could lead to new antitrust concerns, says Colin Ahler at Snell & Wilmer.

  • Electrifying Transportation With Public-Private Partnerships

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    Many clean energy goals remain public policy abstractions that face a challenging road to realization — but public-private partnership models could be a valuable tool to electrify the transportation sector, says Michael Blackwell at Husch Blackwell.

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