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Compliance
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May 01, 2025
2 Firms To Co-Lead Block Investor Suit Over Cash App
Cohen Milstein Sellers & Toll PLLC and Lieff Cabraser Heimann & Bernstein LLP will represent a proposed class of investors in a suit alleging Jack Dorsey's fintech company Block Inc. created a "haven for criminal and illicit activities" on its Cash App and Square payment platforms despite touting its anti-money laundering protocols.
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May 01, 2025
SEC Drops Case Against Crypto Promoter Ian Balina
The U.S. Securities and Exchange Commission moved Thursday to drop its suit over cryptocurrency influencer Ian Balina's alleged promotion of so-called SPRK tokens, about a month after Balina's attorneys said the federal regulator planned to walk away from the case.
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May 01, 2025
FINRA Fines Interactive Brokers Over Complaint Reporting
The Financial Industry Regulatory Authority announced online broker-dealer Interactive Brokers LLC will pay $400,0000 to settle claims it failed to report regulatory complaints and customer grievances regarding the functionality of its virtual platform to FINRA over an 11-year period.
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May 01, 2025
FinCEN Targets Cambodian Firm As Crypto Money Launderer
The U.S. Department of the Treasury's financial crimes watchdog on Thursday called out Cambodia-based Huione Group as a primary money laundering concern and proposed to "sever its access to the U.S. financial system" due to its alleged laundering of $4 billion worth of crypto scam and other illicit proceeds.
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May 01, 2025
Judge Told Data Would Let Rivals Mimic Google Search
An academic testifying for Google on Thursday told a D.C. federal court that the data sharing provisions being proposed as a fix in the search monopolization case would allow rivals to reverse engineer Google search and if not match the results, at least mimic them.
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May 01, 2025
'Fingers Crossed' At FCC As Court's Subsidy Ruling Closes In
There's plenty of hand-wringing at the Federal Communications Commission as a U.S. Supreme Court decision draws near over the legality of the revenue-raising scheme used to pay for more than $9 billion in broadband and phone service subsidies.
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May 01, 2025
States, Green Groups Look To Vacate NEPA Ruling
States that had asked the Eighth Circuit to revive vacated National Environmental Policy Act regulations are now abandoning their appeal because the White House has eliminated the standards — but they're still asking that a lower court's decision striking down the regulations be overturned.
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May 01, 2025
Wash. Justices Take Up Meta's $35M Political Ad Penalty
The Washington State Supreme Court has agreed to review a $35 million judgment for penalties and legal fees against Facebook parent company Meta for repeatedly running afoul of the state's political advertising transparency law.
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May 01, 2025
McDonald's Agrees To Drop Price-Fixing Suit Against Cargill
McDonald's Corp. has agreed to drop its claims against Cargill Inc. in litigation accusing major meat processing and packing companies of conspiring to fix beef prices, according to a joint announcement made by the companies.
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May 01, 2025
Industry Groups Want FCC Enforcement Rework
Five telecom industry groups asked the Federal Communications Commission on Thursday to revamp its enforcement policies after a recent Fifth Circuit decision wiped out a $57 million consumer data privacy fine against AT&T.
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May 01, 2025
CFPB, Lenders Float Deal To Vacate Medical Debt Rule
The Consumer Financial Protection Bureau has agreed to a proposed consent judgment that would vacate a Biden-era rule banning an estimated $49 billion in medical debt from credit reports, striking a deal with lender trade groups that sued in Texas federal court to block the rule.
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May 01, 2025
PBMs Tell 6th Circ. Ohio's Pricing Case Belongs In Fed Court
Express Scripts and Prime Therapeutics urged the Sixth Circuit to undo a district court order returning a lawsuit from Ohio's attorney general alleging they drove up prescription drug prices to state court, arguing Wednesday an after-the-fact disclaimer of federal program-based claims isn't enough to sever a federal law connection.
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May 01, 2025
Truckers Win $10M In Row Over Pay For Freight Transport
A Michigan federal judge on Wednesday awarded $10.4 million to a class of truckers who sued RSP Express Inc. alleging the company and its owners skimmed off the top of their contracts, shorting drivers for freight they transported.
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May 01, 2025
Senate Votes To Strike EPA 'Once In, Always In' Rule Update
The U.S. Senate on Thursday voted to eliminate a U.S. Environmental Protection Agency rule aimed at restricting industrial facilities' harmful air emissions after being reclassified as a less severe pollution source.
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May 01, 2025
Calif. AG Can't Dodge ACC Recycling Subpoena Suit
The American Chemistry Council can move forward with its challenge to a since-withdrawn subpoena from the California attorney general tied to a plastics pollution probe, a D.C. federal judge ruled Thursday.
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May 01, 2025
Payment Math Dooms Sandoz Price-Fixing Deal With Florida
A Connecticut federal judge on Thursday refused to put a bow on the deal the state of Florida struck with Sandoz AG and related defendants in three generic drug price-fixing lawsuits, ruling from the bench in Hartford that the settlement agreement "as written" would lead to exorbitant supplemental payments in the event that other states also reach deals to release their claims.
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May 01, 2025
9th Circ. Asked To Revisit Ruling On Guam Munitions Suit
A Ninth Circuit decision allowing a Guam group to challenge an Air Force permit renewal application to detonate expired munitions conflicts with precedent and threatens to burden permit applicants, agencies and courts, the U.S. government said in a rehearing petition filed Wednesday.
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May 01, 2025
Ex-Conn. State Employee Cops To $1.8M Medicaid Scam Role
A former Connecticut government employee admitted to playing a part in a $1.8 million scheme to defraud the Constitution State's Medicaid program by fraudulently billing services for children with autism that her company never provided, acting U.S. Attorney Marc H. Silverman has announced.
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May 01, 2025
Raytheon, Nightwing To Pay Feds $8.4M Over Cybersecurity
Four Raytheon and Nightwing-related defense contractors have agreed to collectively pay $8.4 million to resolve a False Claims Act whistleblower lawsuit alleging that Raytheon knowingly failed to adhere to cybersecurity requirements during contracts with the U.S. Department of Defense, the U.S. Department of Justice announced on Thursday.
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May 01, 2025
Colo. House OKs Eliminating Deduction For Free Sports Bets
Colorado would reduce and then eliminate a tax deduction for sports betting operators for free bets placed by players under a bill passed by the state House of Representatives and referred to the state Senate's Finance Committee.
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May 01, 2025
The Top In-House Hires Of April
Legal department hires over the past month included high-profile appointments at FanDuel's parent company, American Airlines and soda business Swig. Here, Law360 Pulse looks at some of the top in-house announcements from the first full month of spring.
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May 01, 2025
States Urge 1st Circ. To Reinstate Federal Housing Grants
A coalition of states urged the First Circuit to reinstate a ruling that had blocked the Trump administration from cutting $30 million in fair housing grants, saying the federal government failed to consider the impact this decision would have on the groups' operations.
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May 01, 2025
AT&T Win Is FDIC's Loss On In-House Cases, 5th Circ. Told
A banker challenging the Federal Deposit Insurance Corp.'s use of in-house proceedings to level a fraud judgment against him told the Fifth Circuit that its recent decision overturning a $57 million Federal Communications Commission fine against AT&T confirms that the FDIC cannot rely on a "public rights" exemption to impose fines without a jury trial.
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May 01, 2025
Boies Schiller Litigator Jumps To Weil In New York
Weil Gotshal & Manges LLP announced Thursday that it has hired a former Boies Schiller Flexner LLP litigator with experience as a law firm partner, in-house attorney and federal prosecutor.
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May 01, 2025
Feds Sue To Block State Climate Suits, Superfund Laws
The federal government sued to block two states' climate change Superfund laws and stop two other states from launching threatened lawsuits against fossil fuel companies, saying the states' actions jeopardize national energy security.
Expert Analysis
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Tax Takeaways From Georgia's 2025 Legislative Session
Attorneys at Eversheds Sutherland discuss tax-related measures passed by the Georgia Legislature during the session that adjourned on April 4, which included a decrease in income tax rates, an extension of the time in which to a protest tax assessment and cleanup provisions related to launching the state’s new tax court next year.
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Limit On SEC Enforcement Authority May Mean Fewer Actions
Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.
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Influencer Campaign Lawsuits Signal New Endorsement Risks
Recent class actions allege that companies' influencer campaigns violate the Federal Trade Commission's Endorsement Guides and various state laws, but it's not clear whether the failure to comply can sustain these lawsuits, or whether the plaintiffs' creative theory of damages will hold up to scrutiny, says Gonzalo Mon at Kelley Drye.
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How Lenders Should Prepare For Crypto As Collateral
Amid the administration's desire to position the U.S. as a digital banking leader, lenders should prepare for customers seeking to use cryptocurrency as collateral for financing, consider which rules govern these transactions, and assess their ability to obtain or maintain control of the virtual funds, say attorneys at Frost Brown.
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As SEC, CFTC Retreat, Who Will Police The Crypto Markets?
As the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission pull back from policing the crypto markets, the Federal Trade Commission and Consumer Financial Protection Bureau have the authority to pick up the slack — although recent events raise doubts that they will do so, say attorneys at Skadden.
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What The Minimum Wage Shift Means For Gov't Contractors
While President Donald Trump's recent executive order rescinding a 2021 increase to the federal contractor minimum wage is welcome relief to some federal contractors and settles continued disagreement about its legality, there remains significant uncertainty and pitfalls over contractor wage obligations, say attorneys at Polsinelli.
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5 Ways Banking Has Changed In 5 Years Since COVID
Since the start of the pandemic five years ago, technology, convenience and shifting expectations have transformed compliance for the financial services industry in several key ways, from the shrinking role of the traditional bank branch to the rise of fintech and mobile payments, says Christopher Pippett at Fox Rothschild.
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Unpacking USPTO Foreign Fraudulent Trademark Crackdown
The recent show cause order issued by the U.S. Patent and Trademark Office to Shenzhen Seller Growth Network Technology Co. Ltd. and its affiliates could lead to the cancellation of approximately 42,000 trademark registrations, highlighting the necessity of heightened vigilance in vetting foreign trademark filings, says Judy Yen at Omnus Law.
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Calif. May Pick Up The Slack On Foreign Bribery Enforcement
The California attorney general recently expressed an interest in targeting foreign bribery amid a federal pause in Foreign Corrupt Practices Act enforcement, so companies should calibrate their compliance programs to mitigate against changing risks, especially as other states could follow California’s lead, say attorneys at Gibson Dunn.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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Making Sense Of Small Biz Fair Lending Compliance
Despite the uncertainty brought on by the Consumer Financial Protection Bureau's recent efforts to revise fair lending data collection requirements under Section 1071 of the Dodd-Frank Act, the compliance dates have not yet been stayed, so covered institutions should still start to monitor any disparities now, say attorneys at Frost Brown Todd.
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Mastering The New TCPA Opt-Out Regulations
On April 11, the Federal Communications Commission's new rules concerning the handling of opt-out requests for robocalls and text messages became effective, so companies should prioritize high-value messaging, offer consumers regular opportunities to reconsent to communications, and more, says Aaron Weiss at Carlton Fields.
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Opinion
Ripple Settlement Offers Hope For Better Regulatory Future
The recent settlement between the U.S. Securities and Exchange Commission and Ripple — in which the agency agreed to return $75 million of a $125 million fine — vindicates criticisms of the SEC and highlights the urgent need for a complete overhaul of its crypto regulation, says J.W. Verret at George Mason University.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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DeepSeek's Emergence And What It Suggests For AI Use
While usage of foreign AI models like DeepSeek could streamline operations and improve efficiency for companies, such AI technologies also bring significant legal and cybersecurity risks that cannot be overlooked, say attorneys at Polsinelli.