Expert Analysis

• Compliance Pointers For DOJ's Sweeping Data Security Rule

  

  A new Justice Department rule broadly restricts many common data transactions with the goal of preventing access by countries of concern, and with an effective date of April 8, U.S. companies must quickly assess practices related to employee, customer and vendor data, says Sam Castic at Hintze Law.

• Comparing 2 Pending Bills To Regulate Stablecoins

  

  Alexandra Steinberg Barrage at Troutman analyzes the key similarities and differences between two payment stablecoin proposals currently pending in Congress — the STABLE and GENIUS acts — as both chambers are forming a working group to deliver a clear regulatory framework for digital assets and bipartisan agreement appears within reach.

• Citibank Wire Transfer Ruling Creates New Liability For Banks

  

  A New York federal court's recent decision in New York v. Citibank, affirming the Electronic Fund Transfer Act's consumer protections cover wire transfers allegedly initiated by scammers who infiltrated Citibank customers' online accounts, creates new liability for sending financial institutions and upends decades-old regulatory guidance, say attorneys at Stinson.

• Series

  Competitive Weightlifting Makes Me A Better Lawyer

  

  The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.

• Inside The Uncertainty Surrounding CFPB's Overdraft Rule

  

  The Consumer Financial Protection Bureau's overhaul of overdraft fee regulation hangs in limbo as the industry watches to see whether new leadership will repeal the rule, allow it to stay in place, or wait for congressional action or the courts to drive its demise, say attorneys at Alston & Bird.

• How Private Securities Suits Complement SEC Enforcement

  

  U.S. Securities and Exchange Commission enforcement is vital to the healthy functioning of markets, but government enforcement alone is not enough to ensure meaningful monetary recoveries for investor losses due to securities law violations, say attorneys at Bernstein Litowitz.

• Opinion

  Despite Noble Intentions, Va. Usury Bill Is Bad For Consumers

  

  A Virginia bill purportedly aimed at eradicating predatory online bank lending actually does nothing to achieve that goal, and instead would limit credit opportunities for state residents, says Catherine Brennan at Hudson Cook.

• Opinion

  DOJ's Visa Suit Shows Pitfalls Of Regulating Innovative Tech

  

  A policy of allowing free-market mechanisms to operate without undue interference remains the most effective way to foster innovation, and the U.S. Department of Justice's 2024 case against Visa illustrates the drawbacks of regulating innovative technology, says attorney Thomas Willcox.

• Expect To Feel Aftershocks Of Chopra's CFPB Shake-Up

  

  Publications released by Consumer Financial Protection Bureau personnel in the last days of the Biden administration outline former Director Rohit Chopra's long-term vision for aggressive state-level enforcement of federal consumer financial laws, opening the doors for states to launch investigations and pursue actions, say attorneys at Hudson Cook.

• Corp. Transparency Act's Future Under Treasury's Bessent

  

  The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.

• A Look At A Possible Corporate Transparency Act Exemption

  

  Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.

• Opinion

  Inconsistent Injury-In-Fact Rules Hinder Federal Practice

  

  A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.

• What Financial Intermediaries Can Expect From New Admin

  

  Understanding the current regulatory landscape of consumer financial services — and anticipating how it might evolve under Trump 2.0 — is essential for brokers, lead generators and digital platforms, and they should consider strategies for managing regulatory uncertainty, say attorneys at Sheppard Mullin.

• In-House Counsel Pointers For Preserving Atty-Client Privilege

  

  Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.

• What Banks Need To Know About Trump's Executive Orders

  

  While the numerous executive orders and memos from the last few weeks don't touch on many of the issues the banking industry expected the Trump administration to address, banks still need to pay attention to the flurry of orders from strategic, compliance and operational perspectives, say attorneys at Arnold & Porter.