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"A new era of FCRA scrutiny for consumer data furnishers" by Jessica L. Pollet (Law360)
Furnishers provide information to consumer reporting agencies on over 1.3 billion consumer credit accounts or other tradelines each month, with the three largest national consumer reporting agencies holding the personal information of over 200 million consumers. Given the extent of the consumer...
Articles"SEC invokes '120-day' rule to enhance award to internally reporting whistleblower despite digital realty" by Christopher F. Regan (ABA White Collar Crime Committee Newsletter)
The Securities and Exchange Commission recently approved a $4.5 million whistleblower award, the first issued under its rule governing internal whistleblowing and its first since the Supreme Court’s decision last year in Digital Realty Trust, Inc. v. Somers . Digital Realty held that employees who...
Articles"Email notice lessons from 7th Circ. debt collection ruling" (Lavallee v. Med-1 Solutions LLC) by Marshall T. Bell (Law360)
Consumers increasingly expect to have access to information and the ability to conduct business at the time and place of their choosing, whether shopping for goods and services or managing their finances. Often, that means they expect service providers to communicate with them by email, text or...
Articles"Banks need to prep for OFAC Cuban ‘U-Turn’ exception limits" by Benjamin W. Hutten (Bloomberg Law)
The Department of the Treasury’s Office of Foreign Assets Control recently announced changes to its Cuba sanctions intended to further financially isolate the Cuban government. Most importantly, OFAC will effectively rescind the “U-Turn,” an exception to the Cuban embargo that allowed U.S. banks to...
Articles"Commercial lenders brace for consumer-style disclosures in California and beyond" by Clinton R. Rockwell and Kathryn L. Ryan (Equipment Leasing & Finance Magazine)
In September 2018, California became the first state to enact commercial financing legislation requiring consumer-style disclosures similar to those required for consumer loans under the federal Truth in Lending Act (TILA) and Regulation Z. Senate Bill 1235, the common shorthand for the new statute...
Articles"Wearables present new realm of legal risks for teams" by Elizabeth E. McGinn and John B. Williams, III (Sports Business Journal)
Reaching peak athletic performance is an increasingly scientific and quantitative pursuit, and professional sports franchises, which have tremendous financial and emotional motivation to be the best, are at the forefront in gathering as much data about their assets as possible. FitBits, Apple...
Articles"HUD’s disparate impact proposal clarifies fair lending laws" by Jeffrey P. Naimon (Law360)
The U.S. Department of Housing and Urban Development last month released its long-anticipated proposal to revise its disparate impact rule under the Fair Housing Act. Although the proposal has attracted some criticism from those who believe the proposal would make it more difficult for plaintiffs...
Articles"Dorian update: How state laws protect servicemembers" by Jeffrey P. Naimon and Sasha Leonhardt (Law360)
Hurricane Dorian devastated the Bahamas and southeastern United States in late August and early September, and the governors of Florida, Georgia, North Carolina, South Carolina and Puerto Rico authorized the activation of state National Guard forces for response efforts. In addition, the Rhode...
Articles"Guide to monitorships is essential because of lack of statutes, court precedent" co-authored by Daniel R. Alonso (Law.com)
With some regularity over the past 25 years, government actions against corporate actors have resulted in the imposition of independent monitors. “Monitor” can have multiple meanings, but is usually understood to be an independent third party appointed to ensure compliance with regulatory or court-...
Articles"FHA enforcement: What decreased reliance on the False Claims Act means for FHA lenders and servicers" by Melissa Klimkiewicz (HousingWire)
Top offcials at the U.S. Department of Housing and Urban Development are looking to chart a new course to win back banks that have fled the Federal Housing Administration lending program following a series of multimilliondollar False Claims Act settlements. In the past, HUD has partnered with the U...
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