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Compliance
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May 30, 2025
Enviro-Focused Community Bank Exits FDIC Consent Orders
The Federal Deposit Insurance Corp. has freed Maryland-based Forbright Bank from the penalty box, terminating a pair of consent orders that had restricted its growth and required anti-money laundering improvements.
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May 30, 2025
Meta Looks To Nix FTC's Lead Econ Expert After Antitrust Trial
Meta Platforms asked a D.C. federal judge Friday to strike testimony the Federal Trade Commission's lead economics expert gave during a bench trial in the antitrust case over Meta's purchase of Instagram and WhatsApp, saying the "biased witness" — a New York University School of Law professor — "advocated" for the case.
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May 30, 2025
Governor Wants Input If Dropbox Challenge Is Appealed
Delaware's governor wants to weigh in on a potential Delaware Supreme Court midcase review of a controversial state corporation law overhaul that limits the liability of directors and controlling investors for allegedly self-interested corporate acts.
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May 30, 2025
NSO Wants New WhatsApp Hack Trial After Meta's $168M Win
Israeli spyware developer NSO Group has asked a California federal judge for a new trial to determine damages for installing spyware on 1,400 phones using Meta-owned WhatsApp, saying the punitive damages portion of a roughly $168 million award was egregious and revealed the jury's "general hostility" toward the company.
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May 30, 2025
Court Sinks Iowa Farm's Challenge To 'Swampbuster' Law
An Iowa federal judge has rejected a farm owner's effort to overturn the "Swampbuster" conservation law that aims to protect wetlands in agricultural areas, ruling that the statute passes constitutional muster.
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May 30, 2025
Tornado Cash Judge Won't Order Review Of Feds' Evidence
A New York federal judge said Friday that she won't direct federal prosecutors to conduct a review for additional evidence in their case against Tornado Cash founder Roman Storm despite the defense's claims that a recent disclosure in a separate crypto mixer prosecution could impact Storm's defense.
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May 30, 2025
Crowdfunding, Reg A Deals Grow Slowly As SEC Weighs Ideas
Equity crowdfunding and expanded Regulation A offerings have grown slowly since going live over the past decade, according to new data, leaving open questions on whether regulators will ease rules to bolster these alternatives to traditional capital raising.
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May 30, 2025
Texas Justices Back Bid To Close Migrant-Aiding Nonprofit
The Texas Supreme Court ruled on Friday that the state attorney general can initiate legal proceedings, known as a quo warranto action, to shut down a nonprofit, saying that a lower court's injunctions barring the proceedings were "premature at best."
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May 30, 2025
CFPB Punts On Fed Funding Issue In MoneyLion Case
The Consumer Financial Protection Bureau has told a New York federal judge that fintech lender MoneyLion can't again seek dismissal from its enforcement lawsuit by challenging the agency's finances, calling a procedural foul — while sidestepping the deeper funding issue.
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May 30, 2025
Employment Authority: The Future Of NY Late Pay Claims
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with a look at how the amended New York's pay frequency law leaves an uncertain future for manual worker claims, how a recent National Labor Relations Board charge challenging a production company's use of artificial intelligence to voice Darth Vader in a video game highlights AI-related challenges and how, despite Trump's push, Congress might be needed to make changes on workplace vaccine mandates
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May 30, 2025
FCC Moves To Revoke Radio Licenses For Unpaid Fees
The Federal Communications Commission is revoking two Texas radio stations' licenses and threatening the same for another in Tennessee over unpaid regulatory fees, the agency said in two orders issued this week.
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May 30, 2025
5th Circ. To Rehear No Surprises Act Ruling En Banc
The full Fifth Circuit agreed Friday to reconsider a dispute over provisions for calculating qualifying payments under the 2020 No Surprises Act.
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May 30, 2025
Calif. Card Rooms Say AG's Gambling Regs Will Gut Local Biz
A gambling advocacy group has said proposed regulations against the California card room industry by the state's attorney general would eliminate 50% of the rooms' jobs and revenue, arguing that the plan to ban blackjack and baccarat may hurt local economies around the state.
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May 30, 2025
Google Must Turn Over Docs About Potential Ad Tech Breakup
A Virginia federal court granted a request from government agencies on Friday for internal Google LLC reports analyzing a potential breakup of its ad tech business, as the sides ready for a September trial to determine what remedies to impose on Google for monopolizing key ad tech markets.
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May 30, 2025
Ex-Wells Fargo Exec Sues To Enforce DOL Retaliation Order
A former senior official with Wells Fargo Bank NA has filed suit in a California federal court to force the bank to comply with an order from a U.S. Department of Labor agency finding he is entitled to more than $20 million for purported retaliation after he blew the whistle on legal concerns and was subsequently fired.
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May 30, 2025
DHS Targets Sanctuary Cities In Noncompliance Notice
The U.S. Department of Homeland Security has put hundreds of cities and counties in 35 states and the District of Columbia on notice for being what the department deems as unlawful safe havens for undocumented immigrants, advancing the Trump administration's April vow to target sanctuary cities.
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May 30, 2025
Convicted Crypto Investor's Wife Says Gov't Can't Seize Funds
The wife of a bitcoin investor sentenced to prison for concealing millions of dollars from the IRS asked a Texas federal court Friday to stop the federal government from taking her money to help make up for $1 million in restitution stemming from his cryptocurrency sales.
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May 30, 2025
Employment Lawyers' Weekly DEI Cheat Sheet
A federal judge struck down a presidential executive order against the law firm WilmerHale in a forceful decision, the state of Missouri fought to keep its anti-DEI lawsuit against Starbucks alive and the U.S. Office of Personnel Management laid out a blueprint for steering the federal hiring system away from what it called bureaucratic "'equity' quotas." Here, Law360 looks at notable DEI-related legal developments over the past week.
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May 30, 2025
Shell Speculated About Conn. Environment Goals, Group Says
Two Shell Oil Co. subsidiaries speculated about Connecticut's regulatory goals while using the draft of a new state permit to interpret a prior permit governing a New Haven petroleum terminal, relitigating theories a judge rejected in 2023, an environmental group has said in its challenge to the terminal's flood readiness plans.
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May 30, 2025
DOE Yanks $3.7B In Funding For Clean Energy Projects
An ExxonMobil hydrogen project in Texas and carbon capture projects throughout the U.S. are among two dozen clean energy projects that have seen a combined $3.7 billion in funding rescinded by the Department of Energy, the agency said Friday.
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May 30, 2025
No Point In Vacating NEPA Ruling, Gov't Tells 8th Circ.
The Trump administration on Friday urged the Eighth Circuit to preserve a North Dakota federal judge's decision striking down Biden-era National Environmental Policy Act regulations, a ruling that states and environmental groups say should be vacated.
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May 30, 2025
NJ Pot Shop Fails To Prove Urgency In $273K Fund Dispute
A New Jersey federal judge on Friday declined to unfreeze $273,820 of a dispensary's funding frozen in an account between a payment processor and a Florida bank, saying the dispensary hasn't shown it is at risk of insolvency without the money.
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May 30, 2025
CFPB Will Settle FirstCash Military Lending Suit
The Consumer Financial Protection Bureau and a leading U.S. pawn store operator announced together that they had agreed to settle the agency's suit alleging that the operator ran afoul of military lending laws, filing a joint status report announcing settlement.
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May 30, 2025
Akin Adds Federal Export And Security Head As Adviser
Akin Gump Strauss Hauer & Feld LLP is boosting its international trade practice, bringing in an expert in export enforcement with the U.S. Department of Commerce as a senior regulatory adviser.
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May 30, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
An investor is asking the Delaware Supreme Court to review the constitutionality of a new state law that broadens the protection of corporations in shareholder suits. And hundreds of general counsel are joining an online forum to stand up for the rule of law after President Donald Trump's executive orders against several corporate law firms.
Expert Analysis
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New Anti-Corruption Task Force Bolsters Int'l Collaboration
The recent creation of an anti-corruption task force by the U.K., France and Switzerland demonstrates a commitment to tackling bribery within national and international frameworks, and organizations within these jurisdictions’ remit, including U.S. companies operating in Europe, should review their compliance practices to ensure they address diverging requirements, say lawyers at Skadden.
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A Close Look At The Rescinded Biden-Era NLRB Memos
National Labor Relations Board acting general counsel William Cowen's recent decision to rescind several guidance memoranda from his predecessor signals that he aims to move the board away from expanding organizing rights and to provide more room for employers to protect their operations and workforce, say attorneys at Holland & Knight.
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4 Takeaways From La. Coastal Wetland Damage Verdict
A recent $745 million verdict in a case filed by a Louisiana parish against Chevron for violating a Louisiana environmental law illustrates that climate-related liabilities pose increasing risk and litigation risk may not follow a red state versus blue state divide, say attorneys at ArentFox Schiff.
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Staying The Course On Consumer Financial Law Compliance
Although there may be some regulatory uncertainty, with many rule changes on hold, and enforcement actions and investigations terminated, 11 fundamental laws and rules governing consumer financial services are unlikely to change, say attorneys at K&L Gates.
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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6 Criteria Can Help Assess Executive Branch Actions
With new executive policy changes announced seemingly every day, several questions can help courts, policymakers and businesses determine whether such actions are proper, effective and in keeping with our democratic norms, say Marc Levin and Khalil Cumberbatch at the Council on Criminal Justice.
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Reviving A Dormant Criminal Statute In Antitrust Prosecution
The U.S. Department of Justice is poised to revive a dormant misdemeanor statute to resolve bid-rigging charges against a foreign national, providing important context to a recent effort to entice foreign defendants to take responsibility for pending charges or face the risk of extradition, say attorneys at Axinn.
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End May Be In Sight For Small Biz Set-Aside Programs
A Jan. 21 executive order largely disarming the Office of Federal Contract Compliance Programs, along with recent court rulings, suggests that the administration may soon attempt to eliminate set-asides intended to level the award playing field for small business contractors that qualify under socioeconomic programs, say attorneys at Alston & Bird.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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How Plan Sponsors Can Mitigate Risk In PBM Contracts
A recent lawsuit in New York federal court alleges that JPMorgan caused exorbitant prescription costs by mishandling the pharmacy benefit manager arrangement, adding to a growing body of Employee Retirement Income Security Act fiduciary breach litigation and affirming that fiduciaries must proactively manage their healthcare plan vendors, say attorneys at Hall Benefits Law.