Finance & Banking Communications & Media Privacy

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Advertising Law - November 2015 #3

FTC Flushes Claims for "Flushable" Wipes - Reminding advertisers about the importance of environmental marketing claims, the Federal Trade Commission approved a final consent order in an enforcement action against...more

FTC Finalizes Rule Banning Telemarketer Use of Remotely Created Payments

The Federal Trade Commission (FTC) has finalized changes to its telemarketing sales rule (TSR) that will prohibit sellers and telemarketers from creating or accepting remotely created payment orders or checks, cash-to-cash...more

Financial Services Weekly News - November 2015 #3

Regulatory Developments - MSRB Publishes Compliance Advisory for Municipal Advisors: On Nov. 12 the Municipal Securities Rulemaking Board (MSRB) published its first municipal advisor compliance advisory, developed...more

What is the TCPA and Why is it of Concern to Long Term Care Facilities?

The Telephone Consumer Protection Act (TCPA) was enacted in 1991 to protect consumers, especially cell phone consumers, from unwanted robocalls and texts. The Act applies to virtually any company that utilizes auto-dialing...more

TCPA FCC Petitions Tracker

On November 2, President Obama signed into law the Bipartisan Budget Agreement of 2015. While much of the attention surrounding the bill focused on the decision to raise the debt ceiling, the legislation also quietly...more

Bipartisan Budget Act Creates New TCPA Exemptions

Prior to the amendment, these calls would have been prohibited absent the recipient’s prior express consent if placed to a cellular telephone and if they were made by an automatic telephone dialing system or included an...more

Thoughts on Supreme Court Oral Argument in Spokeo, Inc. v. Robins

Yesterday, the Supreme Court heard oral argument in Spokeo, Inc. v. Robins, No. 13-1339 (SCOTUSBlog page). The question presented is “Whether Congress may confer Article III standing upon a plaintiff who suffers no concrete...more

Following the Wisdom of the Crowd? A Look at the SEC’s Final Crowdfunding Rules

In this alert, we provide a detailed overview of the final rules, Regulation Crowdfunding, which will be applicable to crowdfunding offerings conducted in reliance on Section 4(a)(6) of the Securities Act of 1933 as amended...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement - SEC Decides Against Mounting an Appeal in Koch Ruling - The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more

Key Takeaways from the Consumer Protection Forum

Holland & Knight and the Word of Mouth Marketing Association (WOMMA) hosted a half-day forum that featured government officials discussing hot-button issues in consumer protection regulation and enforcement. Speakers at the...more

U.S. Supreme Court Ponders Whether an Unaccepted Rule 68 Offer Can Moot a Plaintiff’s Claims as It Hears Argument in Gomez

The U.S. Supreme Court heard oral argument in Campbell-Ewald Co. v. Gomez on October 14, 2015, an important case presenting the question of whether a defendant can defeat a class action by offering complete individual relief...more

Third Circuit Vacates New Jersey District Court’s Dismissal of TCPA-related Case

On October 14, the Court of Appeals for the Third Circuit ruled the recipient – intended or not – of a prerecorded call has standing under the TCPA, so long as the recipient has sufficient ties to the number called. Leyse v....more

The SEC Opens Up a New Front in the Cybersecurity Wars

For the last few years, the SEC has been issuing guidance as to appropriate cybersecurity policies and procedures for financial firms. In a move that signal’s the regulator’s willingness to put muscle into its cybersecurity...more

Sixth Circuit Weighs In On Prior Express Consent

Under what circumstances does a person give his “prior express consent” to be contacted on his cellphone by a creditor? The Sixth Circuit recently examined that very question in Hill v. Homeward Residential, Inc., where it...more

FCC Cites Two Companies over Unauthorized Telemarketing Allegations

On September 11, the FCC issued citations against a Pennsylvania-based financial institution and a transportation network company (TNC), alleging that both companies engaged in unlawful business practices by infringing...more

FCC Takes a Bite Out of FNB’s Apple Pay User Agreement

The Federal Communications Commission (FCC) recently issued a citation to First National Bank Corporation (FNB) under the Telephone Consumer Protection Act (TCPA), 47 U.S.C. § 227, for engaging in telemarketing practices with...more

FCC Issues Citations for Violations of TCPA Consent Requirement for Autodialed or Prerecorded Telemarketing Calls

The Federal Communications Commission (FCC) recently issued citations to two companies charged with violating the Telephone Consumer Protection Act (TCPA) consent requirements for autodialed or prerecorded calls to wireless...more

Cybersecurity: How Much is Enough?

The year 2015 may go down in history as the year of the hacker. Though not a new phenomenon, high profile hack-related stories have managed to capture headlines almost every month of 2015. On the eve of the New Year, the...more

The WSGR Data Advisor - September 2015

In this issue of The WSGR Data Advisor, we examine the FCC’s recent TCPA declaratory ruling and order addressing issues regarding calling and texting consumers, and discuss the new privacy, data security, and transparency...more

Consumer Bankers Association, Chamber of Commerce Join Legal Challenge to FCC Ruling Tightening TCPA Call Restrictions

The Consumer Bankers Association (CBA) and the United States Chamber of Commerce have joined the legal challenge to the Federal Communications Commission (FCC)'s July declaratory ruling and order ("FCC Ruling") responding to...more

Is it Illegal for a Debt Collector to Call Your Cell Phone?

Struggling with overwhelming debt problems is stressful – and a big source of that stress is the unending debt collection telephone calls. And now that we all have a cell phone with us pretty much 24 hours a day debt...more

The Next EFTA Class Action Wave Has Started

A new type of Electronic Funds Transfer Act (EFTA) class action is now being filed in volume. This trend is highly likely to continue, as the cases are being filed by a consumer class action firm that has filed hundreds of...more

Privacy in financial markets, not to be ignored

The Article 29 Working Party published a letter it sent to the European Commission urging it to consider the data protection and privacy issues when adopting the secondary regulations (‘Regulations’) necessary to implement...more

6th Circuit Rules Prior Express Consent Defeats Mortgagor TCPA Claim Against Lender

On August 21, the Cincinnati-based United States Court of Appeal for the Sixth Circuit issued its ruling in Hill v. Homeward Residential, Inc., 2015 WL 4978464 (6th Cir. August 21, 2015), and affirmed a jury verdict...more

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more

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