Newsletters

03.15.18

Federal Court Adopts CFTC Position on Cryptocurrency Authority

In the first case of its kind, a New York federal district court has adopted the position of the Commodity Futures Trading Commission (CFTC) that it has jurisdiction to regulate the virtual currency markets.


03.15.18

Ninth Circuit: NBA Doesn’t Preempt California Escrow Law

In a ruling that could prove costly to some national banks, the Ninth Circuit has ruled that the National Bank Act (NBA) does not preempt California state law mandating that financial institutions pay borrowers interest on funds held in their escrow accounts.


03.15.18

FTC Settles With Payment and Social Networking Service

The Federal Trade Commission (FTC) entered into a Consent Order with an online payment system company, settling charges that its payment and social networking service violated the Gramm-Leach-Bliley Act (GLBA) and related regulations, as well as Section 5 of the Federal Trade Commission Act ...


03.15.18

BSA/AML Failures Prove Costly

Recent enforcement actions demonstrate just how expensive failures with regard to Bank Secrecy Act and anti-money laundering (BSA/AML) compliance can be and how intentional conduct can enhance the severity of a penalty, with the California branch of a foreign bank required to pay upward of $368 ...


03.15.18

New Guidance From SEC, New York’s DFS

Hoping to help covered entities, the Securities and Exchange Commission (SEC) released an update on cybersecurity while New York’s Department of Financial Services (DFS) published guidance for licensed virtual currency businesses in the state.


03.15.18

Madden Closer to Being Fixed

Inching one step closer to passage, the full House of Representatives approved the so-called Madden fix bill by a vote of 245 to 171. 


03.15.18

Privacy, Disclosure Failures Cost Venmo in FTC Deal

The Federal Trade Commission (FTC) reached a deal with PayPal, Inc., settling charges that the company violated Section 5 of the Federal Trade Commission Act by misleading consumers about the extent to which they could control the privacy of their Venmo transactions.


03.15.18

Embedded Tweet May Constitute Copyright Infringement

In a decision making headlines, a New York federal court judge held that a tweet embedded in news stories may constitute copyright infringement.


03.15.18

FTC Nominees Make Progress

The confirmation of four new members of the Federal Trade Commission (FTC)—including a chairperson—inched closer to reality after the Senate Commerce Committee approved the nominations.


03.15.18

FTC Makes Moves to Protect Senior Citizens

In an effort to protect older consumers, the Federal Trade Commission filed a pair of actions challenging sweepstakes and tech scams.