Presidential Predictions For Financial Consumer Protections

In January 2017, the Obama Administration will transfer power to the incoming Trump Administration, and Congress will convene with a Republican majority in both houses. Predictions abound as to what legislative and regulatory changes will transpire under the new administration. Earlier this month, WSJ Pro hosted a live video event to discuss how the election…

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How The FTC Guides Businesses Through Data Breaches

The Federal Trade Commission (“FTC”) recently released a data breach guide for businesses, along with a video and blog to help companies following the immediate aftermath of a data breach.  The FTC also provides a model data breach letter to notify individuals of a breach.  The agency – which views itself as the nation’s primary…

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The Blacklisting Rules Are Coming: What Federal Contractors Need to Know

The Federal Acquisition Regulation final rule implementing the “Fair Play and Safe Workplaces” Executive Order 13673 was issued on August 25, 2016, and the rule goes into effect on October 25, 2016. This new regulation presents a significant change – and potential challenge – for major government contractors. President Obama signed Executive Order 13673, often…

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What the Payday Proposal Would Do

The Consumer Financial Protection Bureau (CFPB) has proposed a new rule to regulate payday lending and auto-title loan companies. Right now, it is merely a proposal, meant to undergo the notice and comment period until September 14, 2016. But if the rule goes into effect, it would be a significant imposition on the lending business.…

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CFPB Scare Tactics: The New Arbitration Rules

Recently, I wrote about the CFPB’s plans to issue new regulations restricting arbitration clauses in certain consumer contracts.  Today, the agency announced those new rules and CFPB Director Richard Cordray is expected to discuss them at the agency’s field hearing in Albuquerque, New Mexico.  As expected, the new rules eliminate the use of class action…

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Judge Flunks Case Against LabMD, FTC Appeals

In March 2015, I wrote about the ongoing dispute between the FTC and LabMD, an Atlanta-based cancer screening laboratory, and looked at whether the FTC has the authority to take enforcement action over data-security practices alleged to be insufficient and therefore “unfair” under section 5(n) of the Federal Trade Commission Act (“FTCA”). On November 13,…

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Wells Fargo Learns That Recording Calls In California Can Be Costly

In the past few years, many organizations such as Capital One, Bass Pro Outdoor, and the Cosmopolitan Hotel have faced class actions alleging violations of California’s call recording law.  This week, California’s Attorney General demonstrated that her office, working with state prosecutors, will also vigorously enforce the law under the state’s criminal statutes.  Attorney General…

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Arbitration Under Fire: Brace Your Company for Less Contract Freedom and More Class Actions

Since the Federal Arbitration Act (FAA) of 1925, the United States has had a policy preference for arbitration, even when an arbitration provision includes language barring class action litigation.  We saw this most recently in December 2015 when the Supreme Court reversed a decision by a California Court of Appeal to invalidate a class-arbitration waiver…

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