Expert Analysis

• Opinion

  DOJ's Visa Suit Shows Pitfalls Of Regulating Innovative Tech

  

  A policy of allowing free-market mechanisms to operate without undue interference remains the most effective way to foster innovation, and the U.S. Department of Justice's 2024 case against Visa illustrates the drawbacks of regulating innovative technology, says attorney Thomas Willcox.

• How Ill. Ruling Could Influence Future Data Breach Cases

  

  The Illinois Supreme Court's recent decision in Petta v. Christie Business Holding, which was based solely on standing, establishes an important benchmark for the viability of Illinois-based lawsuits arising out of data security incidents that defendants can cite in future cases, say attorneys at Wilson Elser.

• CFPB Small Biz Study Brings Fair Lending Considerations

  

  The Consumer Financial Protection Bureau's recent report highlighting potential racial discrimination in small business lending may not result in more aggressive enforcement under the Trump administration — but lenders can expect state regulators, private plaintiffs and advocacy groups to step up their own efforts, say attorneys at Husch Blackwell.

• Expect To Feel Aftershocks Of Chopra's CFPB Shake-Up

  

  Publications released by Consumer Financial Protection Bureau personnel in the last days of the Biden administration outline former Director Rohit Chopra's long-term vision for aggressive state-level enforcement of federal consumer financial laws, opening the doors for states to launch investigations and pursue actions, say attorneys at Hudson Cook.

• Corp. Transparency Act's Future Under Treasury's Bessent

  

  The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.

• A Look At A Possible Corporate Transparency Act Exemption

  

  Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.

• Opinion

  Inconsistent Injury-In-Fact Rules Hinder Federal Practice

  

  A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.

• What Financial Intermediaries Can Expect From New Admin

  

  Understanding the current regulatory landscape of consumer financial services — and anticipating how it might evolve under Trump 2.0 — is essential for brokers, lead generators and digital platforms, and they should consider strategies for managing regulatory uncertainty, say attorneys at Sheppard Mullin.

• Virginia AI Bills Could Serve As Nationwide Model

  

  If signed into law, two Virginia bills focused on regulating the use of high-risk AI systems in the private and public sectors have the potential to influence similar legislation in other states, as well as the compliance strategies of companies operating in the commonwealth and across the U.S., say attorneys at Woods Rogers.

• In-House Counsel Pointers For Preserving Atty-Client Privilege

  

  Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.

• What Banks Need To Know About Trump's Executive Orders

  

  While the numerous executive orders and memos from the last few weeks don't touch on many of the issues the banking industry expected the Trump administration to address, banks still need to pay attention to the flurry of orders from strategic, compliance and operational perspectives, say attorneys at Arnold & Porter.

• 6 Tips For Cos. To Comply With Influencer Gifting Rules

  

  A January decision in a National Advertising Division case concerning Revolve Group provides new insights on how the NAD expects companies to manage certain influencer campaigns, including preapproving posts before they go live and considering how they present the disclosure instructions to influencers, says Gonzalo Mon at Kelley Drye.

• 4 Potential Effects Of 3rd Circ.'s Coinbase Ruling

  

  The Third Circuit's recent landmark decision in Coinbase v. U.S. Securities and Exchange Commission that the SEC's refusal to engage in rulemaking to clarify its stance on crypto enforcement was "insufficiently reasoned" could have wide-ranging impacts, including on other cases, legislation and even the SEC's reputation itself, says Daniel Payne at Cole-Frieman.

• Improving Comms Between Trial Attys And Tech Witnesses

  

  In major litigation involving complex technology, attorneys should employ certain strategies to collaborate with companies' technical personnel more effectively to enhance both the attorney's understanding of the subject matter and the expert's ability to provide effective testimony in court, say attorneys at Buchalter.

• CFPB's Message To States Takes On New Weight Under Trump

  

  The Consumer Financial Protection Bureau's January guidance to state enforcers has fresh significance as the Trump administration moves to freeze the bureau's work, and industry should expect states to use this series of recommendations as an enforcement road map, say attorneys at Brownstein Hyatt.