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Public Policy
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June 26, 2024
Big Banks Cleared Fed's Stress Tests, Despite 'Higher Losses'
The Federal Reserve said Wednesday that the nation's big banks have enough capital on hand to ride out a simulated recession, giving them passing marks in the latest round of stress tests as regulators debate tougher rules that could raise capital requirements further.
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June 26, 2024
Judge Won't Free Texas Officials From Lengthy Detention Suit
A Texas federal judge refused to toss four migrants' claims that state officials detained them for longer than allowed, saying they have pled enough misconduct that, if true, would show the officers were aware they were holding detainees for weeks past their release date.
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June 26, 2024
8th Circ. Won't Pause PWFA Regs During GOP States' Appeal
The Eighth Circuit declined to block U.S. Equal Employment Opportunity Commission regulations implementing the Pregnant Workers Fairness Act while several Republican state attorneys general challenge the dismissal of their suit targeting the rule's abortion coverage.
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June 26, 2024
Alaska Natives Call EPA Pebble Mine Veto Unconstitutional
Two Alaska Native American groups are asking a federal court to strip the U.S. Environmental Protection Agency of its power to block projects — like a controversial mine in the state — under the Clean Water Act.
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June 26, 2024
House GOP Gears Up For The End Of Chevron Deference
A new memo outlines how House Republicans are gearing up for the U.S. Supreme Court to potentially overturn the decades-old precedent that courts defer to agencies' interpretations of ambiguous statutes, as an opportunity to roll back the Biden administration's policies and reclaim Congress' power.
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June 26, 2024
Rep. Seeks Info On Sex Allegations Against Ex-GMU Law Prof
The chair of the U.S. House Committee on Education and the Workforce has requested information in a letter to the president of George Mason University and its law school's dean regarding the institution's response to sexual misconduct allegations against former professor Joshua Wright, who is also a former Federal Trade Commission commissioner.
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June 26, 2024
Candidate's Nickname 'Fighter' Won't Be On Fla. Ballot
The Florida Department of State has denied a request by an Orlando law firm owner running for state attorney to include his nickname "Fighter" on the Aug. 20 primary ballot.
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June 26, 2024
House GOP Mulls Little-Used Inherent Contempt For Garland
A group of House Republicans are giving Attorney General Merrick Garland until Friday morning to comply with their demands for the audio recordings of President Joe Biden and his ghostwriter speaking with special counsel Robert Hur during his investigation into Biden's handling of classified documents before they move forward with a vote to hold him in inherent contempt of Congress.
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June 26, 2024
Paul Weiss Launches Multidisciplinary Investigations Practice
Paul Weiss Rifkind Wharton & Garrison LLP has started an official practice to handle clients' most sensitive and complex internal investigations and enforcement matters.
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June 26, 2024
FCC Allows Foreign Stake In Montana Telecom After Review
The Federal Communications Commission is allowing a pair of foreign nationals to move forward with their acquisition of Montana telecommunications company iSmart and its multinational parent, saying the federal government concluded a national security review of the transfer and that iSmart's parent company, Truphone, satisfied requirements from a 2022 consent decree it entered with the FCC.
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June 26, 2024
NC Bar Rips Immigration Atty's 'Absurd' Disbarment Appeal
The North Carolina State Bar urged a state appellate court not to entertain an immigration attorney's appeal of his disbarment, stating that his appeal featured arguments that came too late and otherwise relied on a fallacious and "incoherent" reading of disciplinary regulations with "absurd results."
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June 26, 2024
Feds' 5th Circ. Win On Preventive Care May Imperil ACA
The Fifth Circuit's decision to knock out a national injunction against preventive services coverage requirements under the Affordable Care Act left healthcare advocates breathing a sigh of relief, but attorneys say even more of those requirements may be on the chopping block.
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June 26, 2024
High Court 'Inadvertently' Posts Order Punting Abortion Case
The U.S. Supreme Court mistakenly released a draft order Wednesday that would allow emergency abortions in Idaho, with a majority saying the court was wrong to consider a state challenge at this time.
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June 26, 2024
Some Asian Paper Plates May See Duties Over 300%
The U.S. Department of Commerce teed up preliminary countervailing duties on Chinese and Vietnamese paper plates exceeding 300%, finding that producers are likely receiving government subsidies giving them an unfair advantage in the U.S. market.
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June 26, 2024
Macy's Email Demand Violates Privacy Law, Shopper Says
A requirement that Massachusetts consumers making online purchases from Macy's provide an email address to complete a transaction violates the state's consumer privacy law, a proposed class action filed Tuesday alleges.
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June 26, 2024
Justices Say Bribery Law Doesn't Criminalize Gratuities
The U.S. Supreme Court on Wednesday narrowed the scope of a federal bribery law frequently used in corruption cases against local officials, in a 6-3 ruling in favor of a former Indiana mayor who argued the law only criminalizes quid pro quo bribery and not rewards given after an official act.
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June 26, 2024
High Court Axes Challenge To Biden Admin's Social Media Work
The U.S. Supreme Court wiped out a Fifth Circuit order prohibiting the Biden administration and several federal agencies from working with social media platforms to combat the spread of misinformation Wednesday, finding the states and individuals challenging the collaboration don't have standing to sue.
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June 26, 2024
Crypto ATM Co. Coinme Taps MoneyGram Atty As Legal Head
Crypto exchange and kiosk operator Coinme has brought on the former general counsel at payments firm MoneyGram to head its legal and compliance departments, the firm said on Wednesday.
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June 26, 2024
Biden Pardons Veterans Convicted For LGBTQI+ Status
President Joe Biden on Wednesday pardoned thousands of LGBTQI+ military veterans who were convicted of crimes and forced out of the military across more than 60 years based solely on their sexual orientation or gender identity.
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June 25, 2024
Bank Groups Rip CFPB Stance On Wire Rules In NY's Citi Suit
Banking trade groups have slammed the Consumer Financial Protection Bureau for backing the New York attorney general's office in a lawsuit over Citibank's handling of online wire fraud claims, arguing the agency's support for a key legal position in the case marks a "complete reversal" from its past views.
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June 25, 2024
Public Pensions Have Personnel Authority, Calif. Panel Rules
A county public employee retirement system has the authority to create employment classifications and set its employees' salaries, a California appellate court ruled Monday, reviving the Los Angeles County Employees Retirement Association's lawsuit seeking confirmation of its authority to make key personnel decisions.
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June 25, 2024
2 Federal Judges Stall Biden's Student Loan Debt Relief
Federal judges in Kansas and Missouri on Monday partially blocked the Biden administration from implementing its latest student debt relief program, with both finding that Congress did not give clear authorization through the Higher Education Act for the loan forgiveness plan, as argued by the federal government.
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June 25, 2024
Judge Likely To Block Medical Record Co.'s Anti-Bot CAPTCHAs
A Maryland federal judge appeared ready to enjoin electronic medical records company PointClickCare from restricting nursing home analytics company Real Time Medical Systems' automated access to its online repositories Tuesday, potentially taking an early crack at defining the 21st Century Cures Act's data sharing provisions.
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June 25, 2024
Project Veritas Rips Ore. Recording Ban At En Banc 9th Circ.
Project Veritas urged an en banc Ninth Circuit panel Tuesday to find that Oregon's decades-old statute that makes it a felony to secretly record people in public places violates the First Amendment, arguing the "dangerous" statute deters investigative journalism as "one of the broadest recording laws in the nation."
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June 25, 2024
UPenn Palestinian Org Can't Block Congress' Doc Request
An association of pro-Palestinian faculty and students at the University of Pennsylania can't sue the school to stop it from sending documents about the group's activities to a U.S. House committee that expressed concern about alleged antisemitic activities, a Pennsylvania federal judge has ruled.
Expert Analysis
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Opinion
State-Regulated Cannabis Can Thrive Without Section 280E
Marijauna's reclassification as a Schedule III-controlled substance comes at a critical juncture, as removing marijuana from being subjected to Section 280E of the Internal Revenue Code is the only path forward for the state-regulated cannabis industry to survive and thrive, say Andrew Kline at Perkins Coie and Sammy Markland at FTI Consulting.
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Asset Manager Exemption Shifts May Prove Too Burdensome
The U.S. Department of Labor’s recent change to a prohibited transaction exemption used by retirement plan asset managers introduces a host of new costs, burdens and risks to investment firms, from registration requirements to new transition periods, say attorneys at Simpson Thacher.
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Pay-To-Play Deal Shows Need For Strong Compliance Policies
The U.S. Securities and Exchange Commission, through its recent settlement with Wayzata, has indicated that it will continue stringent enforcement of the pay-to-play rule, so investment advisers should ensure strong compliance policies are in place to promptly address potential violations as the November elections approach, say attorneys at WilmerHale.
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Key Takeaways From FDA Final Rule On Lab-Developed Tests
Michele Buenafe and Dennis Gucciardo at Morgan Lewis discuss potential consequences of the U.S. Food and Drug Administration's recently finalized rule regulating lab-developed tests as medical devices, and explain the rule's phaseout policy for enforcement discretion.
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A Look At New IRS Rules For Domestically Controlled REITs
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.
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7 Effects Of DOL Retirement Asset Manager Exemption Rule
The recent U.S. Department of Labor amendment to the retirement asset manager exemption delivers several key practical impacts, including the need for managers, as opposed to funds, to register with the DOL, say attorneys at Ropes & Gray.
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Kansas Workers' Comp. Updates Can Benefit Labor, Business
While the most significant shake-up from the April amendment to the Kansas Workers Compensation Act will likely be the increase in potential lifetime payouts for workers totally disabled on the job, other changes that streamline the hearing process will benefit both employees and companies, says Weston Mills at Gilson Daub.
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4 Sectors Will Likely Bear Initial Brunt Of FTC 'Junk Fees' Rule
If the Federal Trade Commission adopts its comprehensive proposed rule to ban unfair or deceptive fees across the U.S. economy, many businesses — including those in the lodging, event ticketing, dining and transportation sectors — will need to reexamine the way they market and price their products and services, say attorneys at Skadden.
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What Lies Behind Diverging US And UK Insolvency Trends
Contrasting U.K. and U.S. insolvency trends highlight the importance of policy interventions in shaping consumer financial outcomes and economic recovery, and while the U.K.'s approach seems to have mitigated issues, the U.S. faces challenges exacerbated by economic conditions and policy transitions, says Thomas Curran at Thomas H. Curran Associates.
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Liquidity Risk Management Tops NCUA Exam Priorities
As credit unions map their regulatory initiatives and audit plans, they should look to the National Credit Union Administration’s annual supervisory priorities, which include five important examination areas, including liquidity management and interest rate risk, say Juan Arciniegas and Judy Chen at Chapman and Cutler.
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Protecting IP May Be Tricky Without Noncompetes
Contrary to the Federal Trade Commission's view, trade secret law cannot replace noncompetes' protection of proprietary information because intellectual property includes far more than just trade secrets, so businesses need to closely examine their IP protection options, say Aimee Fagan and Ching-Lee Fukuda at Sidley.
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Regulating Resurrected Species Under The ESA
As the prospect of extinct species being resurrected from DNA and reintroduced into the wild grows closer, an analysis of the Endangered Species Act suggests that it could provide a thoughtful, flexible governance framework for such scenarios, say Caroline Meadows and Shelby Bobosky at the SMU Dedman School of Law.
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A Look At FERC's Plan To End Reactive Power Compensation
A recent notice of proposed rulemaking indicates that the Federal Energy Regulatory Commission is likely to eliminate compensation for reactive power within the standard power factor range — causing significant impacts for the electric power industry, which relies on income from providing this service, say Norman Bay and Matthew Goldberg at Willkie and Vivian Chum at Wright & Talisman.
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How FTC's Noncompete Rule May Affect Exec Comp Packages
In the event the Federal Trade Commission's final noncompete rule goes into effect as currently contemplated, companies will need to take stock of how they structure post-employment executive compensation arrangements, such as severance agreements and clawbacks, says Meredith O'Leary at King & Spalding.
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Action Steps To Address New Restrictions On Outbound Data
Companies should immediately assess all their data-based operations so they can consider strategies to effectively mitigate new compliance risks brought on by recently implemented transaction restrictions, including a Justice Department proposal and landmark data legislation, say attorneys at Wiley.