• 09.12.19

    Fifth Circuit Declares FHFA Structure Unconstitutional: Is CFPB Next?

    In a significant ruling with broad financial services repercussions, the U.S. Court of Appeals for the Fifth Circuit, sitting en banc, has ruled that the Federal Housing Finance Agency (FHFA), the conservator for both Fannie Mae and Freddie Mac, is unconstitutionally structured because its director ...

  • 09.12.19

    SEC Proposes Rule Changes for Business Description, Legal Proceedings and Risk Factors Disclosures

    Aiming to modernize the description of business, legal proceedings and risk factor disclosures that registrants are required to make pursuant to Regulation S-K, the Securities and Exchange Commission (SEC) recently proposed a number of important rule changes which affect periodic reports.

  • 09.12.19

    Credit Union News: Favorable NCUA Decision on Final Rule, Hemp Gets Go-Ahead

    In a major win for credit unions, the D.C. Circuit has largely reversed a ruling that would have prevented credit unions from promulgating rules greatly expanding the field of membership, that is, the persons eligible to join a specific credit union.

  • 09.12.19

    FASB Proposes CECL Delay for Smaller Banks

    Deciding that the benefit to smaller banks and other smaller financial institutions outweighs the lessening of transparency, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update to delay the effective date to implement standards on current expected credit ...

  • 09.12.19

    CFPB News: Enforcement Actions, Card Report and Tax Study

    The Consumer Financial Protection Bureau (CFPB) reached a pair of settlement agreements, the first with a debt collector and the second in its first enforcement action based on alleged violations of the Remittance Transfer Rule.

  • 09.11.19

    FTC Warns Companies on CBD-Infused Product Health Claims

    The Federal Trade Commission warned three companies on Sept. 10 that they could not legally advertise that their CBD-infused products can “prevent, treat, or cure a human disease without competent and reliable scientific evidence to support such claims.”  

  • 09.10.19

    Third Circuit Goes Bananas for Copyright Protection

    The U.S. Court of Appeals, Third Circuit went bananas for copyright protection, ruling that a banana costume was copyrightable in a lawsuit filed by the maker of a competing costume.

  • 09.10.19

    False Sale Prices Result in Real $6M Settlement

    General Nutrition Centers (GNC) agreed to pay $6 million to settle a class action accusing the national retailer of promoting “phantom markdowns” on its website.

  • 09.10.19

    Court Isn’t Sweet on Honey False Ad Suit

    A Massachusetts federal court threw out a lawsuit against Honey Bunches of Oats brought by consumers who claimed that the product packaging and marketing misled them about the cereal’s honey content.

  • 09.10.19

    Challenge to ‘Natural’ Eyelash Products Reaches $3.25M Deal

    A cosmetics company can close its eyes on a lawsuit over the marketing of its eyelash products after reaching a $3.25 million deal in a putative class action.