Expert Analysis

• Recent OCC Charter Approvals Signal Fintech Momentum

  

  The Office of the Comptroller of the Currency's recent charter approval for Circle, along with faster Federal Deposit Insurance Corp. review procedures, signals a more workable path to national bank and trust charters, meaning fintech firms should prepare regulator-ready applications and plan for intensified competition, say attorneys at Davis Wright.

• Midyear Trends, Takeaways As Securities Class Actions Surge

  

  High numbers of securities class actions through June suggest filings will stay elevated, with factors like changing enforcement attitudes, media scrutiny and the proliferation of potential defendants serving as both cause and effect in increased litigation involving AI-related disclosures, health and tech companies, and foreign issuers, say attorneys at Alston & Bird.

• How To Approach Rising Foreign Direct Investment Hurdles

  

  Attorneys advising on cross-border transactions need to take a practical but risk-aware approach as U.S.-led deals are encountering longer and more intrusive foreign direct investment reviews, say attorneys at Wilson Sonsini.

• Other Transaction Authority May Change Military Construction

  

  Early use of the Pentagon’s expanded authority to use other transaction agreements for defense construction projects suggests it may become a consequential change that draws new entrants into the marketplace, so participants should be cognizant of how it differs from the familiar Federal Acquisition Regulation model, say attorneys at Holland & Knight.

• Mapping A Compliance Framework For AI Chatbot Operators

  

  The Federal Trade Commission's recent artificial intelligence guidance, together with emerging state AI chatbot laws, wiretapping statutes and telecommunications requirements, carry significant implications for consumer-facing chatbot and customer service tool operators that require a layered disclosure framework addressing multiple regulatory touchpoints, say attorneys at Winston Taylor.

• Fashion Greenwashing Risk Goes From Reputational To Legal

  

  Fashion brands now face greenwashing risks that extend beyond reputational damage, with California's extended producer responsibility law taking effect soon, and regulatory enforcement and class actions increasing around terms like "sustainable" and "carbon-neutral" — so companies must ensure their marketing is backed up by evidence, says Benjamin Thompson at Thompson LLP.

• Bank Charter Denial Offers Road Map For Stablecoin Issuers

  

  The Office of the Comptroller of the Currency's recent denial of Wise's bank charter application signals that stablecoin issuers should expect rigorous scrutiny of anti-money laundering controls, governance, management expertise and affiliate compliance history when applying for federal approval, say attorneys at Katten.

• Complying With Calif. Crypto License Law's 11th-Hour Rewrite

  

  Financial businesses that applied early for the digital asset license now required in California should check their filings and compliance decisions against last-minute updates to the law and its rules, as overlooked changes could leave companies budgeting for nonexistent bonds, relying on an outdated exemption or racking up steep fines, say attorneys at Astraea Counsel.

• What To Know As DOJ Antitrust Biz Review Letters Return

  

  The revival of the U.S. Department of Justice Antitrust Division's business letter review program reflects a trend of engagement with the business community, but the program's value will depend on the government's response speed, depth of analysis and ability to provide meaningful practical guidance, say attorneys at MoFo.

• Series

  Going To Hardcore Shows Makes Me A Better Lawyer

  

  While government contracts law and the hardcore scene may seem entirely unrelated, in my experience, both are about community, focus, being prepared for the unexpected and managing chaos, says Isaac Natter at Fluet.

• How Data Broker Laws Are Reaching Consumer-Facing Cos.

  

  As states, most recently New Jersey, expand the scope of data broker laws to cover some customer data sharing, consumer-facing companies should reassess advertising, vendor and partner arrangements to determine whether they trigger registration, contracting and governance obligations, says Sam Castic at Hintze Law.

• How Axing SEC Trade-Through Rule Could Reshape Markets

  

  The proposed elimination of a Securities and Exchange Commission rule that mandates a price benchmark for equity securities trades could allow blockchain-based trades to compete with legacy frameworks in registered markets, potentially serving as a test case for updated regulatory models, say Alex Zozos at Superstate, and Lewis Rinaudo Cohen and Edward Leaf at Cahill Gordon.

• What Regulatory 'Reputation Risk' Purge Means For Banks

  

  Banks should expect closer scrutiny of account closures and service denials after federal regulators recently stripped "reputation risk" from supervisory guidance, and should tie customer decisions to documented, objective legal and financial criteria to protect against debanking-related enforcement, say attorneys at Troutman.

• Student Loan Revamp Leaves Bankruptcy Untouched

  

  Recent changes to the Graduate PLUS student loan program may moderate borrowing and simplify repayment, but they may also shift financial distress into a bankruptcy system whose treatment of educational debt remains largely unchanged, say Jaclynn McDonnell at Stevens & Lee.

• What 'Good Faith' Means In Calif.'s 1st Climate Reporting Year

  

  Initial submissions to California's corporate greenhouse gas emissions reporting program are due this month — and for regulated businesses, the first-year issue is not whether CARB has answered every implementation question, but how a company can make its good faith compliance efforts provable later, says Thierry Montoya at FBT Gibbons.