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"What the new information security reporting standards mean for financial institutions" by Jeffrey P. Naimon and James C. Chou (Cybersecurity Law Report)
Regulators recently proposed new rules that would require banking institutions to notify their primary regulators of some computer-security incidents within 36 hours, and service providers to notify regulated entities as soon as possible of any incident affecting its operations for four hours or...
Articles"CFPB order offers insight into pandemic mortgage servicing" by Jeffrey P. Naimon (Law360)
The U.S. Consumer Financial Protection Bureau in December issued a consent order based on alleged violations of its 2014 mortgage servicing regulations. The consent order, which also bootstraps claims of unfairness and deception to alleged technical violations of the servicing regulations —...
Articles"Opinion: How Trump's pardons could get even more bizarre" by Daniel R. Alonso (CNN)
President Donald Trump announced a wave of pardons on Tuesday for people ranging from Republican allies to two men who pleaded guilty in Robert Mueller's Russia investigation. Meanwhile, speculation grows about whether President Trump will pardon three of his adult children, his son-in-law, or even himself before his term ends on January 20.
Articles"Op-ed: What would Manhattan DA candidates do about violent crime?" by Daniel R. Alonso (Daily News)
In an era of unrest and cries for social justice, the eight declared candidates for Manhattan district attorney have, to varying degrees, embraced progressive prosecutorial agendas — aiming to reduce the focus on incarceration in favor of more lenient alternatives, social services, and greater...
Articles"Cross-border internal investigations in Spain" co-authored by Daniel R. Alonso (Anti-Corruption Report)
In recent years, more and more U.S. investigations have touched Spain and various countries within Latin America, in particular Argentina, Brazil, Colombia and Mexico. Loosely speaking, these countries have cultural, language and regional affinities and similarities that make them useful to study...
Articles"CFPB credit stance has broad specialty finance implications" by Jeffrey P. Naimon (Law360)
The Consumer Financial Protection Bureau issued an advisory opinion at the end of November that could compel specialty-finance companies — including those offering income-share agreements, litigation funding, merchant cash advances and earned wage access products — to take a fresh look at whether...
Articles"Defending attorneys against extortion charges presents unique challenges" by Bradley A. Marcus (Business Crimes Bulletin)
Although the criminal prosecution of lawyer misconduct is nothing new, the recent indictment of a plaintiffs’ lawyer in Maryland and sentencing of two plaintiffs’ lawyers in Virginia illustrate the particular danger to attorneys who arguably cross the line during negotiations with potential...
Articles"A referendum on criminal justice reform" by Daniel R. Alonso (Daily News)
New Yorkers of different stripes came together this month to help elect Joe Biden president. Now that that is over, our focus will begin to turn to the key races in the next election. In New York City, the most important of those is the 2021 mayoral race, followed closely by the historic race for...
Articles"OCC undermines own CRA rule by putting key metric on hold" by Warren W. Traiger (American Banker)
Critics of the Office of the Comptroller of the Currency’s new Community Reinvestment Act rule say it was rushed to completion, bypassing the interagency approach that once defined the rule. Left scattered in its place is a reform (from the OCC) and proposal ( from the Federal Reserve ), leaving...
Articles"Fairness gone viral: Fair lending considerations for financial institutions amid Covid-19" by Caroline M. Stapleton (American Bar Association Business Law Today)
The COVID-19 pandemic has had a disproportionate impact on certain protected classes in the United States, including, in particular, minority populations. Non-white populations have seen higher hospitalization rates, more deaths, and higher unemployment numbers over the past six months as compared...
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