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ABA Petitions FCC To Allow Security And Fraud Alerts To Customers Without Consent

On October 14, the ABA submitted a petition to the FCC requesting that it exercise its statutory authority to allow financial institutions to send consumers certain security and fraud alerts without the consumers’ prior...more

German Retail Investor Protection Act

The German Federal Ministry of Finance published the draft Retail Investor Protection Act (Kleinanlegerschutzgesetz, or Act)1 on 28 July 2014. The Act is intended to strengthen the protection of German retail investors – in...more

In Case You Missed It - Interesting Items for Corporate Counsel

The SEC reminded everyone that, yes, it cares whether you timely file your Section 16 reports, by announcing enforcement actions against 28 Section 16 filers and six public companies here. Some tie the unprecedented...more

CFPB Identifies Deceptive, Abusive Practices in the Marketing of Credit Card Promotional APR Offers

The Consumer Financial Protection Bureau recently issued a bulletin (CFPB Bulletin 2014-02) warning credit card issuers to avoid potentially deceptive and abusive practices in connection with the marketing of credit card...more

Building Brand Equity: Crowdfunding and the Retail Industry

Ask anyone who follows innovation what topics are hot and it is likely most of them will say “crowdfunding.” By now, sites like Kickstarter and IndieGoGo have created thousands of loyal followers. In recent months even the...more

FTC Targeting Deceptive Advertising of Mortgage Lead Generators

The Federal Trade Commission’s (FTC) recent complaint against Intermundo Media, LLC (Intermundo) alleging deceptive marketing tactics under the FTC Act and Mortgage Acts and Practices – Advertising Rule (MAP Rule)...more

Russia Moves to Limit Foreign Ownership in the Media Sector

On 26 September, Russia’s lower house of Parliament (Duma) adopted by a vote of 430-2 a bill to limit the foreign ownership, control, or operation of Russian mass media editorials or broadcasters to 20 percent or less, thus...more

Recent SEC Interpretations Facilitate Intrastate Crowdfunding

The SEC has recently issued interpretations regarding Rule 147. This rule provides a safe harbor under Section 3(a)(11) of the Securities Act of 1933, as amended, which exempts from federal registration securities offered...more

Facebook and IMs Provide Key Evidence to Prosecutors in Criminal Cases

Two recent events demonstrate how prosecutors are increasingly turning to other forms of electronic information to construct their cases. First, Francisco R. Legaspi, now 61, who had been a fugitive for the past 22 years, was...more

Electricity Reform in Mexico: New Opportunities and Roles

Although much of the buzz around Mexico's energy reform focused on the oil & gas sector, the Mexican power sector also underwent a fundamental change. Together with eight new and twelve amended federal laws, Mexico's...more

Levick Monthly - October 2014, Edition 15: Offshore Is Next Target For Environmentalists

In This Issue: - DIGITAL: COVER STORY Guest Commentary: Offshore is Next Target for Environmentalists - CRISIS How to Talk About ISIS Over Dinner - CORPORATE & REPUTATION Non-Lethal Weapons: The Ferugson...more

Eighth Circuit Reverses Summary Judgment, Directs Trial Court to Determine Whether Consent Was Revoked

In an unpublished, per curiam decision, the Eighth Circuit recently reversed the entry of summary judgment in favor of a defendant and directed the district court to address whether the plaintiff had revoked his consent to...more

Privacy Tuesday - October 2014

A new month, a new Privacy Tuesday. JPMorgan Chase: Baiting the Hook for Phishers - Cybercrime researchers say that the 83 million customer records (76 million consumer and 7 million small business) swiped from...more

Eleventh Circuit Reverses Refusal to Honor FCC’s TCPA Debt Collection Declaratory Ruling, Fosters Uniformity on TCPA’s Autodialing...

The U.S. Court of Appeals for the Eleventh Circuit has brought a bit of legal balance back to automated debt collection calls, and reminded lower courts that when it comes to claims under the Telephone Consumer Protection Act...more

NBC's The Blacklist or Real-Life Attack on JPMorgan?

Attack of the hackers - Whenever I watch one of those hacker movies, I always think, “There’s no way they could actually hack into [insert the name of a heavily protected government or financial institution database...more

The Federal Trade Commission Updates its “Guides for Advertising Allowances and Other Merchandising Payments and Services”: Still...

Although infrequently finding itself front and center in case law and legal developments, the Robinson-Patman Act, 15 U.S.C. § 13 (the “Act”) from time to time resurfaces. The Act prohibits discrimination in prices charged,...more

The CFPB Weighs in on Marketing Services Agreements

The Consumer Financial Protection Bureau (“CFPB”) has, for the first time, publicly expressed views on marketing services agreements (“MSAs”) under Section 8 of the Real Estate Settlement Procedures Act (“RESPA”). After...more

CFTC Issues Exemptive Relief Related to JOBS Act Amendments to Regulation D

The Division of Swap Dealer and Intermediary Oversight (Division) of the U.S. Commodity Futures Trading Commission (CFTC) on September 9, 2014 issued a letter granting exemptive relief from provisions in CFTC Regulations...more

New York State to Allow Financial Institutions to Offer Savings Promotion Giveaways

Governor Cuomo has signed legislation allowing banks and credit unions in New York to offer savings promotion giveaways whereby depositors can be eligible to win prizes based on deposits made into a qualifying savings...more

New Data on Rule 506 Offerings

Crowdnetic, a provider of technology and market data solutions to the global crowdfinance marketplace, has shared with us for publication data collected through their network of intermediaries....more

Federal Appeals Court Upholds District Court Order Barring Telemarketers From Selling Mortgage And Debt Relief Programs

This month, the U.S. Court of Appeals for the Sixth Circuit issued a decision to uphold the District Court of Northern Ohio’s earlier ruling prohibiting the defendants from selling false mortgage assistance and debt relief...more

CFPB Wants to Publish Detailed Consumer Complaints

The Consumer Financial Protection Bureau (CFPB) has proposed to publicly disclose details of consumer complaints filed through its web-based public consumer complaint database by including a consumer narrative of events that...more

Using Information from Data Brokers? Beware the FCRA and the FTC …

As sellers and Internet service providers gather increasing amounts of consumer information, the data broker industry has expanded. Identifying themselves as "market research" firms, data brokers buy, analyze, sort,...more

The CFPB and the Technological Revolution

The Consumer Financial Protection Bureau (CFPB) Director Richard Cordray emphasized during the CFPB’s September 11, 2014, meeting with the Consumer Advisory Board the CFPB’s new focus on protecting consumers who use mobile...more

The More Things Change….

Today, September 23rd, is the one year anniversary of the effective date of the changes relaxing the prohibition against general solicitation in certain offerings made under Rule 506 and resales made pursuant to Rule 144A....more

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