...proponents of Blockchain technology have asserted the platform’s built-in efficiencies would allow it to compete with traditional, utility-owned electrical grids, with one company going as far as setting up a “micro-grid” in Brooklyn, New York. It appears that the marriage between Blockchain and the electricity grid may be moving forward at an accelerated pace as the technology is now being examined and piloted by major utility operators. Continue reading

In an article for Fintech Weekly, Partner Michael W. Ross explains that, as companies have experimented with blockchain and other distributed ledger technologies, commentators have highlighted antitrust concerns. Mr. Ross suggests areas to watch as the technology expands, particularly at the International Standards Organization and the Federal Trade Commission. The... Continue reading

By Michael W. Ross and Andrew J. Lichtman September saw a flurry of activity that will help further define the cryptocurrency regulatory landscape. The Financial Industry Regulatory Authority (“FINRA”) brought its first-ever crypto-fraud case and a court ruling by the U.S. District Court for the Eastern District of New York... Continue reading

In an article for Law360, Partners Daniel T. Fenske and Justin C. Steffen examine anti-competition issues with blockchain. The authors explain that anti-competition issues abound now that financial institutions, corporations and other industries are investing in blockchain technology. The issues, they observe, can be mitigated through early planning. The authors... Continue reading

In a recently filed lawsuit in Cook County Circuit Court, the State of Illinois accused Trump International Hotel & Tower of violating multiple clean water laws and endangering fish and aquatic life in the Chicago River. Continue reading

By Jolene E. Negre, Michael W. Ross, Justin C. Steffen and Andrew J. Lichtman In a June 14 speech William Hinman, the SEC’s Director of the Division of Corporate Finance, began to place additional definition around the raging debate over whether digital assets, including tokens, are securities. Until that speech,... Continue reading

By Joseph L. Noga, Michael W. Ross, Justin C. Steffen and Kashan Pathan Since its inception, the Consumer Financial Protection Bureau (the “CFPB”) has faced controversy over its structure as an independent agency headed by a single director who can be removed by the President only for cause. Critics have... Continue reading

Jenner & Block is partnering with Chicago-Kent College of Law and FinTEx, a non-profit, member-driven community of the leading organizations within FinTech and Financial Services, for a first-of-its kind conference focused on the evolving regulatory and legal issues in the blockchain and cryptocurrency space. Co-organized by Partner Justin C. Steffen,... Continue reading

By Adam G. Unikowsky and Leonard R. Powell On June 21, 2018, the US Supreme Court issued its much-anticipated decision in South Dakota v. Wayfair, Inc., No. 17-494. In a 5-4 opinion by Justice Kennedy, the Court held that the Dormant Commerce Clause does not bar a state from requiring... Continue reading

A combination of stagnant power consumption growth and the rise of natural gas and renewable power sources has resulted in the displacement and potential closure of many older coal and nuclear power plants in the United States. According to the U.S. Energy Information Administration, since 2008, coal and nuclear energy have seen a continuous decline in their percentage of the nation’s total energy generation market. And in 2015, the closure of coal fueled power plants accounted for more than 80% of the nation’s retired energy generating capacity. Continue reading

By Nicolas G. Keller On May 21, 2018, President Trump signed into law a resolution disapproving the Consumer Financial Protection Bureau’s (“CFPB”) guidance on Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act (“Indirect Auto Lending Guidance” or “Guidance”). In that Guidance, the CFPB expressed the view that... Continue reading

By Adam G. Unikowsky, Michael T. Brody, Carla J. Rozycki, Howard S. Suskin, and Gabriel K. Gillett On May 21, 2018, the Supreme Court issued its long-awaited decision in the consolidated cases Epic Systems Corp. v. Lewis, No. 16-285; Ernst & Young LLP v. Morris, No. 16-300; and NLRB v.... Continue reading

In an article for American Banker, Jenner & Block Partner Michael W. Ross and Associate Emily A. Bruemmer examine the Consumer Financial Protection Bureau’s (CFPB) preference for less enforcement at the federal level. The authors discuss acting Director Mick Mulvaney’s announcement that the CFPB would no longer be “pushing the... Continue reading

Jenner & Block Partner Anne P. Ray will speak at the 23rd Annual Consumer Financial Services Institute in Chicago. Hosted by the Practising Law Institute, the two-day program will focus on a broad array of recent regulatory, enforcement and litigation issues relating to mortgages; auto finance; credit, debit and prepaid... Continue reading

By Jolene E. Negre On April 17, the New York Attorney General’s Office released a statement that it has launched a fact-finding inquiry into 13 cryptocurrency exchanges. Questionnaires were sent to the following exchanges: Coinbase, Inc. (GDAX) Gemini Trust Company bitFlyer USA, Inc. iFinex Inc. (Bitfinex) Bitstamp USA Inc. Payward,... Continue reading

Today, Jenner & Block announced the formation of a FinTech industry group, expanding the firm’s strong reputation in advising clients on complex financial services and consumer-related matters. Leveraging our industry knowledge and significant capabilities, the FinTech industry group will work strategically with businesses to address and stay ahead of new... Continue reading

In an article for Lending Times, Jenner & Block Partner Kali Bracey and Associate Marguerite L. Moeller discuss potential legal risks that may arise as a result of companies using big data to make credit extension decisions. The article explains that despite the growing trend of using artificial intelligence and... Continue reading

In an article published by Law360, Jenner & Block Partner Jan A. Larson and Associate Catherine L. Doyle examine the potential impact of court action on ransomware coverage. The authors explore the pending district court action of Moses Afonso Ryan Ltd. v. Sentinel Insurance Company Ltd. They explain that the... Continue reading

In an article for Law360 titled “Anticipating This Year's HIPAA Enforcement Trends,” Partner David P. Saunders outlines the possible reasons for why it is still unclear what HIPAA enforcement may look like under the new administration. Mr. Saunders suggests that perhaps the last 12 months of slow HIPAA enforcement represents... Continue reading

By Emily A. Bruemmer and Jennifer J. Yun Nearly two years ago, on May 24, 2016, the European Union (EU) adopted a new law—the General Data Protection Regulation (GDPR or Regulation)—to replace the Data Protection Directive, which has governed data protection in the EU since 1995. While the GDPR resembles... Continue reading

In an article published in FinTech Weekly, Jenner & Block Partners Gayle E. Littleton, David Bitkower and Justin C. Steffen discuss the recent rise of virtual currencies and warn individuals and companies that, although the growth of cryptocurrencies can give the appearance of a Wild West for the digital age,... Continue reading

2017 was another busy year for the Consumer Law Round-Up. Launched by the firm’s Consumer Law Practice, the blog updates readers on key developments within consumer law and provides insights that are relevant to companies and individuals that may be affected by the ever-increasing patchwork of federal and state consumer... Continue reading

By Nicolas G. Keller On Wednesday, November 1, during a closed meeting, President Trump quietly signed into law House Joint Resolution 111, thereby voiding the Consumer Financial Protection Bureau’s (CFPB) arbitration agreements rule.[1] That rule, which we wrote about in more detail here, was promulgated in July, and, starting in... Continue reading

Jenner & Block Partners Brian S. Scarbrough and Justin C. Steffen wrote an article for Law360 explaining the basics of blockchain – a database that is shared across a network – as well as potential insurance and regulatory issues raised by the technology. The authors detail the background of blockchain... Continue reading

By Kali Bracey, Jeremy M. Creelan and Nicolas G. Keller On July 10, the Consumer Financial Protection Bureau (CFPB) issued a final rule under Section 1028(b) of the Dodd-Frank Act that governs the use of arbitration by providers of a wide swath of consumer financial products and services.[1] Once in... Continue reading