News & Analysis as of September 20, 2024

Hiring & Firing › Financial Services Industry

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Hiring & Firing refers to the process of recruiting, interviewing and offering employment and the process of evaluating performance and dismissing employees. Hiring & Firing is a highly regulated area and can create tremendous liability for employers who fail to properly adhere to acceptable employment practices. Some of the potential pitfalls in this area stem from discriminatory hiring practices, improper performance evaluations, and retaliatory firings. less -

Appeals Court: No FCRA Informational Injury Standing

Ballard Spahr LLP on 9/11/2024

A job applicant who claims he was not fully informed about adverse information that appeared on a background check is not entitled to relief under the Fair Credit Reporting Act (the FCRA), the Sixth Circuit Court of Appeals...more

Northern District of California Denies Motion To Dismiss Putative Class Action Based On Financial Services Company’s Alleged...

A&O Shearman on 8/13/2024

On July 29, 2024, Judge Trina L. Thompson of the United States District Court for the Northern District of California denied a motion to dismiss a putative securities class action brought by investors against a financial...more

Fintech Focus Podcast | Growing a Workforce in a Regulated Environment

Skadden, Arps, Slate, Meagher & Flom LLP on 8/5/2024

As growth-stage fintechs manage a rapidly increasing workforce, they are faced with onboarding senior-level hires within the scope of a complex regulatory environment in the U.K. On our latest “Fintech Focus” podcast, host...more

FDIC Urges Financial Institutions to Complete Voluntary Diversity Self-Assessments

Ballard Spahr LLP on 8/5/2024

The FDIC is urging financial institutions it supervises to voluntarily submit self-assessments of their diversity policies and practices to the agency by Oct. 31, 2024....more

UK HR Two-Minute Monthly: March 2024

BCLP on 3/28/2024

Our March update includes a case on whether a theatre and agency could dismiss an actor playing a lesbian role because of her devout Christian beliefs, and a case looking at whether an employee who spends virtually all her...more

What is Recruitment Marketing Software?

Mitratech Holdings, Inc on 1/25/2024

Are you struggling to attract, engage, and hire top talent for your organization? As the war for talent rages, traditional recruitment methods may no longer be enough. That’s where recruitment marketing software comes in....more

White House Issues Sweeping AI Executive Order: 10 Things Employers Need to Know

Fisher Phillips on 10/31/2023

The executive order on artificial intelligence issued by the White House yesterday is the federal government’s most ambitious attempt to date to corral this burgeoning technology – and contains numerous items of interest for...more

No Such Thing as a Free Lunch…?

Katten Muchin Rosenman LLP on 10/31/2023

A large US Bank with operations in the UK (Bank) recently won a widely discussed case in the UK's Employment Tribunal after a senior analyst (Employee) sued the Bank for unfairly dismissing him over an expense form relating...more

State Legislatures Eye AI Regulation

Robinson+Cole Data Privacy + Security Insider on 9/8/2023

A growing number of states have enacted laws this year to study artificial intelligence (AI), ahead of possible legislative action to address expected threats to jobs, civil liberties, and property rights with the emerging...more

How to Combat Corporate Theft: Office Space – Crossover Episode With the Hiring to Firing Podcast - The Consumer Finance Podcast

Troutman Pepper on 8/17/2023

Corporate theft can happen in any workplace, but in the world of financial services, the theft can also create regulatory and litigation exposure for financial institutions. What type of employee is most likely to steal from...more

Amendment to California Employment Regulation May Impact Background Screeners

Troutman Pepper on 7/31/2023

On July 24, the California Office of Administrative Law approved the Civil Rights Council’s (the Council) proposed amendment to California’s Employment Regulations Relating to Criminal History, which are set to become...more

Class Action & MDL Roundup 2023 Q1 – We Don’t Discount Confidentiality

Alston & Bird on 7/5/2023

Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2023. In this edition, in pork we antitrust, paid time off is not pay, and if it’s free, it won’t cost...more

Calif. FCRA Ruling Boosts Technical Claim Defense

Troutman Pepper on 6/30/2023

A significant decision from a California state appeals court has shifted the legal landscape for technical Fair Credit Reporting Act claims brought in California state court in favor of defendants. Originally published in...more

CFPB Opines That Companies Using Automated Worker Surveillance Tools Must Comply with FCRA

Troutman Pepper on 6/23/2023

Do companies that use workplace surveillance tools to make hiring and firing decisions risk violating the Fair Credit Reporting Act (FCRA)? According to the Consumer Financial Protection Bureau (CFPB or Bureau) in a recent...more

CFPB Releases New Required Form for Use in Employee Background Check Process

Dinsmore & Shohl LLP on 4/20/2023

The Consumer Financial Protection Bureau has released an updated version of the "Summary of Your Rights Under the Fair Credit Reporting Act" notice that all employers must provide to employees before taking any adverse action...more

Looking Ahead to 2023

Katten Muchin Rosenman LLP on 12/29/2022

As the new year is fast approaching, we're waiting with bated breath for Prince Harry's new book, the Rugby World Cup, Doctor Who's 60th anniversary and of course, the potential UK employment law developments that financial...more

Wells Fargo’s Woes Continue — A Rotten Culture that Continues to Stink

The Volkov Law Group on 8/10/2022

It is hard to write yet another posting about Wells Fargo’s misconduct. Wells Fargo’s troubles continue unabated. I am not exaggerating — I promise. Every few months, we hear about another problem, another enforcement...more

[Event] Interact 2022 - August 14th - 17th, Nashville, TN

Mitratech Holdings, Inc on 4/14/2022

Exclusive roadmap reveals, immersive Q&A with top product & industry experts, live product demos, electrifying presentations, co-innovation opportunities, and so much more— all coming to you live from the heart of Nashville,...more

Forecast: March 2022 Edition

Fisher Phillips on 3/16/2022

Welcome to FP Forecast, a monthly outlook featuring Fisher Phillips thought leaders providing their insights into what employers can expect in 2022 and beyond. By following along each month, you’ll be in the best position to...more

Measuring and Promoting Inclusion in the Financial Services Sector - New Report and Actions

BCLP on 3/3/2022

Following their survey of over 3000 individuals across 13 financial services sector employers, the Financial Services Culture Board (FSCB) and the Financial Services Skills Commission (FSSC) have published a report setting...more

Financial Services Capital Markets and M&A: 2022 Off and Running

Manatt, Phelps & Phillips, LLP on 1/11/2022

2021 is in the books…another eventful year on so many different fronts. For financial institutions, it was a year in flux, with various governmental appointments taking on new importance in the day-to-day life of banks. ...more

Seventh Circuit Reverses Summary Judgment on Fair Debt Collection Practices Claim Reasoning Lack of Standing

Burr & Forman on 9/3/2021

On August 31, 2021, the Seventh Circuit Court of Appeals reversed a summary judgment decision from the United States District Court for the Northern District of Illinois, and remanded the action with instructions to dismiss...more

OFCCP Week In Review: July 2021 #2

DirectEmployers Association on 7/13/2021

The DE OFCCP Week in Review (WIR) is a simple, fast and direct summary of relevant happenings in the OFCCP regulatory environment, authored by experts John C. Fox, Candee Chambers and Jennifer Polcer. In today’s edition, they...more

Fair Credit Reporting Act: Policy Check In – Permissible Purpose

McGlinchey Stafford on 5/7/2021

Now, more than ever, consumer report information impacts the everyday life of consumers in a meaningful way. Not only are consumer reports used by creditors, but also employers, insurers, landlords, and more. It should...more

Returning To The Office In The Financial Industry

Jackson Lewis P.C. on 3/9/2021

As COVID-19 vaccinations progress and as our economic and social lives begin to return to normal, employers are faced with new challenges. These challenges are particularly difficult for banks and credit unions, which not...more

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Hiring & Firing › Financial Services Industry

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