By: Michael W. Ross I recently attended LendIt’s 2020 conference, the largest Fintech conference of the year. Kudos to everyone at LendIt for successfully transitioning the conference to a remote platform – it was a great few days of speakers and topics including really slick tools for engagement and networking.... Continue reading

By: Alexander N. Ghantous In August of 2020, the Colorado Attorney General’s Office settled two lawsuits concerning Colorado’s right to enforce its consumer loan interest rate limits.[1] The lawsuits involved Avant of Colorado, LLC (“Avant”) and Marlette Funding, LLC (“Marlette”), both of which are not banks.[2] However, partnerships with banks... Continue reading

By: Madeline Skitzki On August 31, 2020, the California Legislature passed Assembly Bill 1864. In general, this bill (1) renamed the Department of Business Oversight as the Department of Financial Protection and Innovation and renamed the commissioner of the Department as the Commissioner of Financial Protection and Innovation, and (2)... Continue reading

Jenner & Block has published its fifth issue of Consumer Finance Observer or CFO, a newsletter providing analysis of key consumer finance issues and updates on important developments to watch. As thought leaders, our lawyers write about the consumer finance sector on topics ranging from artificial intelligence, compliance, data security,... Continue reading

On August 18, 2020, the Center for Biological Diversity, Waterkeeper Alliance, Inc., and Riverkeeper, Inc. (“Conservation Groups”) filed a new lawsuit in the U.S. District Court for the Southern District of New York against the U.S. Environmental Protection Agency and Administrator Wheeler (“EPA”) for failing to comply with their mandatory duties under the Endangered Species Act (“ESA”) in connection with promulgation of EPA’s COVID-19 enforcement discretion policy. Continue reading

Although Illinois Governor Pritzker has scored successes in the federal lawsuits brought against his COVID‑19 Executive Order actions, he has not fared as well, thus far, in state court.... An analysis of the Governor’s successes upholding his Executive Orders in federal court can be found here. For regular updates about the impact of COVID‑19 in the workplace and on business generally, please visit Jenner & Block’s Corporate Environmental Lawyer blog and Jenner & Block’s COVID‑19 Resource Center. Continue reading

Several state and federal court lawsuits have been brought challenging Illinois Governor Pritzker’s proclamations and executive orders related to COVID‑19 (“Executive Orders”). In federal court, in contrast with state court, the Governor has been successful defending his Executive Orders. Continue reading

On Tuesday, August 4, 2020, the California Environmental Protection Agency Office of Environmental Health Hazard Assessment (OEHHA) issued a Notice of Proposed Rulemaking to adopt amendments to the regulations implementing the Safe Drinking Water and Toxic Enforcement Act of 1986 (“Proposition 65”). Specifically, OEHHA is proposing to amend Title 27 of the California Code of Regulations, by adopting a new Section 25505, to address listed chemicals formed by cooking or heat processing foods. The proposed amendments, if adopted, would provide new, specific “safe harbor” levels for Proposition 65 listed chemicals that are caused by cooking or heat processing in certain food groups. Manufacturers and sellers of these food products in California could then rely on these levels to demonstrate that their products do not require a consumer warning label under Proposition 65. Continue reading

By: Alexander M. Smith While some varieties of food labeling lawsuits (such as lawsuits challenging the labeling of “natural” products) show no sign of dying off, other trends in food labeling litigation have come and gone. Last year, for example, appeared to mark the end of lawsuits challenging the labeling... Continue reading

On July 27, 2020, Virginia became the first state to adopt an emergency workplace safety standard regarding exposure to COVID-19. Virginia is one of the 22 states which has jurisdiction to issue its own workplace safety and health regulations, which must be at least as stringent as regulations issued by U.S. OSHA, but can go beyond federal requirements. Continue reading

By: Charles D. Riely and Michael F. Linden A recent enforcement action by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the Fintech space serves as a cautionary tale for innovators who fail to heed traditional regulations. On July 13, 2020, the SEC and... Continue reading

By: Michael W. Ross, Williams S.C. Goldstein, Amy Egerton-Wiley and Maria E. LaBella Last month, the Office of the Comptroller of the Currency (OCC) adopted a final rule clarifying that the terms of a national bank’s loans remain valid even after such loans are sold or transferred. The rule was... Continue reading

By: Michael W. Ross and Jacob D. Alderdice The implementation of the Paycheck Protection Program (PPP) under Title I of the Coronavirus Aid, Relief and Economic Security Act (the CARES Act) amidst the COVID-19 economic downturn has spawned a growing cottage industry of litigation, including several waves of cases against... Continue reading

By: Neil M. Barofsky, Michael W. Ross and Ali M. Arain On June 8, 2020—shortly after announcing the program was set to launch—the Board of Governors of the Federal Reserve (Federal Reserve) announced material changes to some of the key terms for the “Main Street” lending program.[1] As of June... Continue reading

By: Kali N. Bracey and Damon Y. Smith As data began pouring in from cities and states hit hard by COVID-19 it became clear that, even though the virus is color blind, certain racial and ethnic communities were suffering a disproportionate impact from the disease. See, e.g., https://www.npr.org/2020/04/09/831174878/racial-disparities-in-covid-19-impact-emerge-as-data-is-slowly-released, last visited... Continue reading

By: Kate T. Spelman and Amy Egerton-Wiley Proposition 65 warnings are familiar to any business that manufactures, distributes, or supplies consumer products for sale in California. Enacted through a ballot initiative in 1986 as “the Safe Drinking Water and Toxic Enforcement Act,” Proposition 65 requires businesses to provide “clear and... Continue reading

On Monday, April 27, 2020, Illinois Circuit Court Judge Michael McHaney temporarily blocked enforcement of Illinois Governor JB Pritzker's March 20, 2020 stay-at-home order, which had been extended through April 30, by granting a temporary restraining order (“TRO”) sought by Illinois State Representative (R) Darren Bailey. As issued, the judge’s decision prohibits Governor Pritzker from enforcing the pending stay-at home order—or any future executive orders that require home quarantine—against Rep. Bailey. Continue reading

By: Michael Ross and Jake Alderdice On April 13, 2020, a federal district court in Maryland issued one of the first rulings to interpret the provisions of Congress’s Coronavirus Aid, Relief and Economic Security Act (the CARES Act), signed into law by President Trump on March 27, 2020. At issue... Continue reading

On April 9, 2020, the Board of Governors of the Federal Reserve (Federal Reserve) announced an array of new and expanded programs designed to ease the economic dislocation caused by the COVID-19 pandemic. Together, these programs will provide up to $2.3 trillion in funding to support the flow of credit... Continue reading

By: Tracey Lattimer On July 25, 2019, New York Governor Andrew Cuomo signed into law the Stop Hacks and Improve Electronic Data Security (SHIELD) Act, which updates New York’s data breach notification law (as set out in the New York General Business Law and New York State Technology Law) and... Continue reading

By: Jason P. Hipp As just one of the many aspects of New York State’s response to the coronavirus outbreak, last month, on March 21, 2020, New York Governor Andrew Cuomo issued Executive Order 202.9 (the Order), which directed institutions regulated by the New York Department of Financial Services (DFS)... Continue reading

By: Madeline Skitzki and Kate T. Spelman As Zoom’s popularity has soared in recent weeks, the company has begun facing increasing scrutiny from both government regulators and consumer advocates. Much of this scrutiny has focused on privacy and security concerns, including the following: “Zoombombing” incidents in which unauthorized individuals have... Continue reading

By: Alexander N. Ghantous On April 6, 2020, Richard Cordray, former director of the Consumer Financial Protection Bureau (CFPB), posted a white paper addressed to current CFPB Director Kathy Kraninger, listing 16 actions the agency should take to protect consumers during the COVID-19 pandemic.[1] Cordray wants the CFPB to ensure... Continue reading

In a recent blog post, TechGC highlighted a dinner that Jenner & Block hosted with TechGC in New York to discuss the use of alternative data when making consumer facing decisions. At their dinner, “Navigating Enforcement Risks Associated with the Use of Alternative or Sensitive Data,” Kali Bracey, Joseph L.... Continue reading

A key part of the historic $2 trillion package to address the economic fallout from the coronavirus pandemic (the CARES Act or the Act) is the Paycheck Protection Program (PPP), which extends $349 billion in fully forgivable loans to small businesses, generally those with 500 or fewer employees, through the... Continue reading