News & Analysis as of

Enforcement Actions Algorithms

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Summer 2024

Across industries, companies are facing new and uncertain regulatory pressures and demands in areas including artificial intelligence, sustainability, algorithmic pricing and fintech-bank relations. In this issue of The...more

Holland & Knight LLP

DOJ Introduces New Twist in Algorithmic Collusion Cases

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It has been almost two years since private plaintiffs initiated the first antitrust class action cases against RealPage and owners and managers of multifamily apartment buildings, alleging collusion by algorithm in the use of...more

Seyfarth Shaw LLP

Commissioner Sonderling to Depart from EEOC in August 2024

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Seyfarth Synopsis: EEOC Commissioner Keith Sonderling, a Republican who first joined the EEOC in 2020, has announced his departure from the Commission in August 2024. Sonderling’s tenure was marked by his significant...more

Morrison & Foerster LLP

Quarterly Cartel Catch-Up: 2024 Mid-Year Global Review

At the mid-year point, 2024 is shaping up to be an eventful year in cartel enforcement. In the United States, the U.S. Department of Justice (DOJ)’s Antitrust Division (Division) enjoyed two significant victories and finally...more

Womble Bond Dickinson

SEC Marketing Rule: Fintech Enforcement Actions

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This alert highlights recent artificial intelligence (AI)-related enforcement actions that the Securities and Exchange Commission (SEC) has brought against investment advisers under the SEC's "Marketing Rule." The enforcement...more

Kohn, Kohn & Colapinto LLP

The Double-Edged Impact of AI Compliance Algorithms on Whistleblowing

As the implementation of Artificial Intelligence (AI) compliance and fraud detection algorithms within corporations and financial institutions continues to grow, it is crucial to consider how this technology has a twofold...more

Holland & Knight LLP

Beyond the Hype: The SEC's Intensified Focus on AI Washing Practices

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The U.S. Securities and Exchange Commission (SEC) is cracking down on how firms promote their artificial intelligence (AI) technologies to protect investors from falling victim to "AI-washing." On March 18, 2024, the SEC...more

Mayer Brown

Securities and Exchange Commission Brings First Enforcement Actions Over “AI-Washing”

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On March 18, 2024 the US Securities and Exchange Commission (“SEC” or the “Commission”) announced that it had settled charges in separate actions against two investment advisers, Delphia (USA) Inc. (“Delphia”) and Global...more

MoginRubin LLP

Algorithmic Price-Setting by Multiple Competitors is a U.S. Antitrust Enforcement Priority

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For the third time in as many months, the U.S. federal antitrust enforcement authorities -- the Federal Trade Commission and the Antitrust Division of the Department of Justice -- have filed a statement of interest in an...more

ArentFox Schiff

Investigations Newsletter: Deputy Attorney General Monaco Warns Industries: “Fraud Using AI is Still Fraud”

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On March 7, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s (ABA) 39th National Institute on White Collar Crime. She noted that artificial intelligence (AI) “holds great...more

American Conference Institute (ACI)

[Event] 15th Annual Advanced Forum on Managed Care Disputes and Litigation - May 2nd - 3rd, Chicago, IL

ACI’s Advanced Forum on Managed Care Disputes and Litigation offers an unparalleled learning experience, specifically designed for the MCO legal community. Attend and develop winning legal strategies and business best...more

Mintz - Antitrust Viewpoints

The US Securities & Exchange Commission Targets AI on Multiple Fronts — AI: The Washington Report

Welcome to this week’s issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. The accelerating advances in artificial intelligence (“AI”) and the practical,...more

Sheppard Mullin Richter & Hampton LLP

AI Under the Antitrust Microscope: Competition Enforcers Focusing on Generative AI from All Angles

As generative AI becomes an increasingly integral part of the modern economy, antitrust and consumer protection agencies continue to raise concerns about the technology’s potential to promote unfair methods of competition....more

Holland & Knight LLP

The FTC Is Regulating AI: A Comprehensive Analysis

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Artificial Intelligence (AI) is rewriting norms and changing the way we interact with the world. It is likely AI will have an outsized impact on every facet of life; this could be the start of the next technological...more

Moore & Van Allen PLLC

Federal Agencies Issue Joint Statement Addressing Enforcement Authority & AI

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As artificial intelligence systems such as ChatGPT and Midjourney have become increasingly prominent, so have concerns about the effects that such programs may have on the economy and society at large. With more businesses...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Nondiscrimination and Military Protection Laws

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to consumers protected by nondiscrimination and military protection laws. The CFPB has historically been particularly active with respect to...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Small Dollar Lending

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to small-dollar lending. So, what happened in 2022?...more

Sheppard Mullin Richter & Hampton LLP

CFPB Targets FinTech for Faulty Automated Savings Algorithm

On August 10, the CFPB issued a consent order against a FinTech company for a faulty algorithm utilized in its personal finance management app that caused consumer accounts to overdraft and incur overdraft penalties....more

Goodwin

DOJ Settles with Social Media Company to Resolve Fair Lending and Discriminatory Advertising Allegations

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On June 21, 2022, the U.S. Department of Justice (DOJ) filed a complaint and settlement agreement in federal court alleging that a social media company is in violation of the Fair Housing Act (FHA), 42 U.S.C. §§ 3601-3619,...more

Sheppard Mullin Richter & Hampton LLP

EEOC Issues Guidance Regarding How Employer Software and Artificial Intelligence May Discriminate Against Individuals With...

On May 12, 2022, the Equal Employment Opportunity Commission (“EEOC”) issued guidance addressing the application of the Americans with Disabilities Act (“ADA”) to employers utilizing software, algorithms, and artificial...more

WilmerHale

FTC Settles With Weight Loss Company Over Children’s Data

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The Federal Trade Commission (FTC) reached a settlement with WW International Inc., formerly known as Weight Watchers (WW), over allegations that the company collected children’s information without parental consent in...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 8, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Venable LLP

FEC Cracks Down on Use of Contributor Data

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The Federal Election Commission (FEC) recently announced a $16,000 civil penalty against a political campaign, to settle allegations that the campaign had inappropriately used FEC contributor data in an algorithm used to aid...more

The Volkov Law Group

Alere Agrees to Pay $38.75 Million to Settle False Claims Act Violations (Part II of V)

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Alere, Inc. and its San Diego subsidiary, agreed to pay $38.75 million to resolve False Claims Act charges for billing the Medicare program for defective rapid point-of-care testing devices. ...more

Davis Wright Tremaine LLP

FTC Warns of Greater Scrutiny Over Biased AI, Offers Best Practices to Mitigate Potential Harm

Building on prior guidance issued in 2020, the Federal Trade Commission (FTC) recently warned in a new blog post that it will use its authority under existing laws to take enforcement action against companies that sell or use...more

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