Compliance

  • July 29, 2024

    Wells Fargo Can't Escape Investors' Sham Diverse Hiring Suit

    A California federal judge refused to throw out a proposed securities class action against Wells Fargo alleging it conducted sham interviews to meet diversity targets that triggered a stock drop when the truth came to light, finding Monday that the investors had plausibly alleged the bank's ill-will.

  • July 29, 2024

    NFT Artists Bring Preemptive SEC Suit To Protect Artwork

    Two NFT artists sued the U.S. Securities and Exchange Commission in Louisiana federal court on Monday to protect their forthcoming nonfungible token projects from a potential enforcement action, with the artwork itself seeking to highlight a perceived regulatory overreach into NFTs.

  • July 29, 2024

    Making Broadcasters File Disaster Reports Not Wise, FCC Told

    Broadcasters say it's a bad idea for the Federal Communications Commission to force them to start reporting disaster-related outages to the agency like other communications companies are required to because it would distract them from reporting about whatever disaster is happening.

  • July 29, 2024

    FTC, Challengers, Their Backers Vie For Noncompetes' Fate

    The fate of the Federal Trade Commission's noncompete ban is on the line as the agency trades blows with the U.S. Chamber of Commerce and other challengers spread across three different federal courts, all now grappling with a decision last week providing important backing to the FTC's rulemaking authority.

  • July 29, 2024

    Feds Say Tenn., NC Hospitals Overpaid Doctors For Referrals

    A Tennessee-based hospital system violated the False Claims Act by taking $27.8 million in public healthcare allotments while overpaying doctors, sometimes by three times the average physician's pay, to make internal referrals, according to a lawsuit the U.S. Department of Justice has joined.

  • July 29, 2024

    CFPB Says Lease-To-Own Co. Acima Misled Vulnerable Users

    Lease-to-own fintech company Acima had customers paying more than twice the retail price of home goods by deceptively locking them into high-cost "virtual rent-to-own" financing plans, the Consumer Financial Protection Bureau alleged in a new lawsuit filed Friday in Utah federal court.

  • July 29, 2024

    Railroads Ask 11th Circ. To Void New Train Crew Size Rule

    Rail giants have told the Eleventh Circuit that the Federal Railroad Administration overstepped with its new two-person train crew rule, saying rail labor costs would surge if "one of the most consequential rulemakings in the history of American railroading" were allowed to stand.

  • July 29, 2024

    Feds Strike $7M Deal With Co. In Emissions-Cheating Suit

    A North Carolina auto parts dealer will pay $7 million to end the federal government's lawsuit alleging the company sold parts that bypassed vehicles' emissions controls, according to a court filing on Monday.

  • July 29, 2024

    Utah Biz Groups Latest To Challenge Corp. Disclosure Law

    Several small-business associations in Utah became the latest group to challenge the Corporate Transparency Act's disclosure requirements, telling a federal court Monday the statute violates several constitutional provisions, including the guarantee of due process.

  • July 29, 2024

    EPA, Army Reveal Joint PFAS Sampling Project

    The U.S. Environmental Protection Agency and the U.S. Army unveiled a joint national project to test private drinking water wells near Army installations for per-and polyfluoroalkyl substances, identifying 235 locations where they will carry out their more in-depth investigation. 

  • July 29, 2024

    Charter Pays $15M To End FCC's Network Outage Probe

    Charter has agreed to shell out $15 million and create a novel cybersecurity program meant to resolve issues raised during a Federal Communications Commission probe of major network outages affecting 911 service, the FCC said Monday.

  • July 29, 2024

    Magistrate Eyes Cuts To Norfolk Southern Investors' Suit

    A New York federal magistrate judge has recommended tossing a portion of a securities suit filed against Norfolk Southern Corp. in the wake of the East Palestine, Ohio, train derailment, reasoning that the retirement funds serving as lead plaintiffs fell short of pleading standards.

  • July 29, 2024

    Ex-Vitol Oil Trader Can't Unwind Conviction After Bribery Trial

    A New York federal judge refused Friday to acquit former Vitol Oil Group trader Javier Aguilar or grant him a new trial following his February conviction on charges that he bribed Ecuadorian and Mexican officials to win $500 million in business deals for the global energy and commodities company.

  • July 29, 2024

    MoneyGram Opposes CFPB, NY's 'Futile' Bid To Bolster Case

    MoneyGram told a New York federal judge that the state and federal regulators' bid to update their complaint against the remittance service is a "bad faith attempt" to "salvage" a case that should either be transferred to MoneyGram's home district of Texas or tossed entirely.

  • July 29, 2024

    SEC OKs Award Of More Than $37M To Whistleblower

    The U.S. Securities and Exchange Commission has awarded more than $37 million to an anonymous whistleblower the agency credits for spurring a successful enforcement action despite retaliation from an unidentified employer.

  • July 29, 2024

    SEC Says Penny Stock CEO Lied About COVID-19 Deal

    The U.S. Securities and Exchange Commission on Friday sued former penny stock company CEO Juan Campo for securities fraud, alleging he lied to investors about acquiring a Colombian cannabis company and about the company's development of a temperature screening device during the COVID-19 pandemic, among other things.

  • July 29, 2024

    'Grave' NatSec Concerns Justify TikTok Ban, DC Circ. Told

    The U.S. government told the D.C. Circuit that TikTok's data collection practices and content recommendation algorithm threaten national security, in defending a federal law banning the social media platform from the United States unless it cuts ties with its Chinese parent company ByteDance.

  • July 29, 2024

    Commonwealth Financial Attacks SEC's 'Staggering' $93M Win

    Commonwealth Financial Network has asked the First Circuit to overturn what it called a "staggering" $93 million penalty it was ordered to pay to the U.S. Securities and Exchange Commission, arguing that its alleged failure to disclose conflicts of interest to investor clients was harmless.

  • July 29, 2024

    NRA Avoids Compliance Monitor In NY AG Case

    A Manhattan judge on Monday rejected the New York attorney general's request for a compliance monitor to oversee the National Rifle Association, saying such relief would "result in a long, awkward and potentially speech-chilling government involvement in a political organization."

  • July 29, 2024

    Utilities Seek 8th Circ. Freeze Of Power Plant Effluent Rule

    Utility companies, trade groups and nearly two dozen states are urging the Eighth Circuit to pause a challenged rule setting new wastewater limitations for coal-fired power plants, arguing that it will otherwise force utilities to commit to unreasonable investments or plant retirements.

  • July 29, 2024

    Catching Up With Delaware's Chancery Court

    Litigation linked to Elon Musk sparked several filings in Delaware's Court of Chancery last week, including a call for sanctions and hand-wringing about a proposed multibillion-dollar attorney fee. Here, Law360 looks at this and other highlights from last week in Delaware's Chancery Court.

  • July 29, 2024

    White Collar Update: 4 Developments To Watch

    White-collar lawyers are on the lookout for U.S. Department of Justice actions targeting artificial intelligence "snake oil," aggressive pandemic-relief fraud prosecutions, and carrots for corporations and whistleblowers who expose misconduct. Here's a look at some key developments to watch in the second half of 2024.

  • July 29, 2024

    Legal Tech Biz Litera Acquires Data Management Co. FileTrail

    Legal technology giant Litera announced on Monday the acquisition of FileTrail, which offers information governance and records management services to law firms and companies.

  • July 29, 2024

    Clean Energy Tax Credit Sales Could Hit $25B, Report Says

    Total sales of clean energy tax credits could reach as high as $20 billion to $25 billion this year, signaling a flourishing marketplace for credit sales authorized by the 2022 climate law, according to a midyear report released Monday by a climate tech startup firm.

  • July 29, 2024

    Teller Pens Deal With Wells Fargo In AML Whistleblower Case

    Wells Fargo has reached a settlement in principle with a former teller who claimed she was fired after raising concerns about the bank's "streamlined" account opening process that allowed customers to open accounts if they'd failed anti-money laundering screenings previously.

Expert Analysis

  • 5 Tips For Solar Cos. Navigating Big Shifts In US Trade Policy

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    Renewable energy developers can best mitigate new compliance risks from the Office of the U.S. Trade Representative’s increased tariffs on imported solar cells, and simultaneously capitalize on Treasury Department incentives for domestic solar manufacturers, by following five best practices in the changing solar trade landscape, say attorneys at Morgan Lewis.

  • Md. Deal Highlights Consumer Finance Program Regulations

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    Maryland regulators’ recent settlement with the Bank of Missouri and its consumer lending partners, Atlanticus and Fortiva, offers a reminder that it is important to properly structure such partnerships and conduct sufficient due diligence on state licensing requirements, says Tom Witherspoon at Stinson.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Defending Against Aggressive DOL Child Labor Enforcement

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    The U.S. Department of Labor's recent unsuccessful injunction against an Alabama poultry facility highlights both the DOL's continued focus on child labor violations and the guardrails and defenses that employers can raise, say attorneys at Littler.

  • Half-Truths Vs. Omissions: Slicing Justices' Macquarie Cake

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    The U.S. Supreme Court's recent ruling in Macquarie v. Moab provides a road map for determining whether corporate reports that omit information should be considered misleading — and the court baked it into a dessert analogy that is key to understanding the guidelines, say Daniel Levy and Pavithra Kumar at Advanced Analytical Consulting Group.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • 3 Areas Of Enforcement Risk Facing The EV Industry

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    Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.

  • Nat'l Security Considerations For Telecom Products Counsel

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    An increase in federal national security measures in the telecommunications space, particularly from the Federal Communications Commission, means that products counsel need to broaden their considerations as they advise on new products and services, says Laura Stefani at Venable.

  • Preparing For Increased Scrutiny Of Tech Supply Chains

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    The U.S. Department of Commerce's recent action prohibiting sales of a Russia-based technology company's products in the U.S. is the first determination under the information technology supply chain rule, and signals plans to increase enforcement of protections that target companies in designated foreign adversary jurisdictions, say attorneys at Debevoise.

  • Chevron's End Puts Target On CFPB's Aggressive BNPL Rule

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    A recent interpretative rule by the Consumer Financial Protection Bureau, subjecting buy-now, pay-later loans to the same regulations as credit cards, is unlikely to survive post-Chevron challenges of the rule's partisan and shaky logic, say Scott Pearson and Bryan Schneider at Manatt.

  • Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.

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    The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.

  • 5 Steps To Protect Your Business From Spoofed Email Fraud

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    In today's digital landscape, spoofed email fraud poses a significant threat to businesses, so specifying clear payment instructions and implementing robust verification protocols, among other steps, can significantly reduce the risk of falling victim to email fraud, says Bill Wagner at Taft.

  • Keeping Up With Carbon Capture Policy In The US And EU

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    Recent regulatory moves from the U.S. Environmental Protection Agency and the European Commission in the carbon capture, sequestration and storage space are likely to further encourage the owners and operators of fossil fuel-fired power plants to make decisions on shutdowns or reconfiguration to meet the expanding requirements, say Inosi Nyatta and Silvia Brünjes at Sullivan & Cromwell.

  • Unpacking The Increasingly Popular Fair Credit Billing Act

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    The Fair Credit Billing Act is receiving increased attention from regulators and consumers disputing credit card charges, so creditors should understand its procedural requirements — including the law's focus on the mechanics of a dispute and its potential to create civil liability, say David Gettings and Courtney Hitchcock at Troutman Pepper.

  • New State Climate Liability Laws: What Companies Must Know

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    New legislation in Vermont and New York creating liability and compliance obligations for businesses deemed responsible for climate change — as well as similar bills proposed in California, Massachusetts and Maryland — have far-reaching implications for companies, so it is vital to remain vigilant as these initiatives progress, say Gregory Berlin and Jeffrey Dintzer at Alston & Bird.

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