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TCPA Compliance Alert: FCC’s New Opt-Out Rule Takes Effect April 11, 2025

The Federal Communications Commission’s (“FCC” or the “Commission”) recently adopted a new Opt-Out Rule under the Telephone Consumer Protection Act (“TCPA”), which will take effect on April 11, 2025. Currently, the TCPA...more

U.S. Treasury Department Announces Suspension of BOI Reporting Penalties for U.S. Parties

On February 19, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced that most reporting companies under the Corporate Transparency Act (“CTA”) must now submit their Beneficial Ownership Information (“BOI”)...more

California Proposes Legislative Amendments to Expand Debt Settlement Regulation to Certain Business Debt Settlement Providers

On February 24, 2025, California Assemblymember Avelino Valencia (D-Anaheim) introduced Assembly Bill (AB) 1166, which seeks to amend and expand the state’s existing Fair Debt Settlement Practices Act (the “Act”) to include...more

BOI Reporting Back in Effect: Compliance Required by March 21, 2025

On February 19, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that most reporting companies under the Corporate Transparency Act (CTA) must now submit their Beneficial Ownership Information (BOI) reports...more

New York and Washington Propose Legislative Amendments to Regulate Debt Settlement Companies

Washington - On January 24, 2025, Washington Representatives Reeves (D), Corry (R), and Walen (D) introduced House Bill (HB) 1599, which seeks to amend the state’s existing debt adjusting act. Currently, the Washington law...more

Colorado Regulatory Alert: Amendments to Colorado Debt-Management Services Act Affecting Permissible Fees

The Colorado Uniform Debt Management Services Act (DMSA) regulates companies that offer and provide debt management services to Colorado residents. Under Colorado law, debt management services providers include providers of...more

New Rule Issued by FTC Focuses on Fake and AI-Generated Reviews, Imposes Heavy Civil Penalties

The Federal Trade Commission (FTC) issued a new Final Rule (the “Rule”) on Wednesday, August 14, 2024, targeting unfair and deceptive acts or practices specifically related to consumer reviews and testimonials, allowing the...more

CFPB to Begin Tracking Offenders through National Registry

The CFPB has issued a final rule to provide transparency and track certain covered nonbank offenders. On June 3, 2024, the CFPB introduced a significant regulatory measure known as the Registry of Nonbank Covered Persons...more

CFPB Proposes New Rule with Continued Significant Focus on Payments Space

On November 7, 2023, the Consumer Finance Protection Bureau (“CFPB”) proposed a new rule that calls for federal regulatory oversight of large nonbank companies that offer digital wallets and payment apps to consumers. The...more

CFPB Continues to Target Consumer Lending Activity, Imposes $20 Million Penalty

On May 31, 2023, the Consumer Financial Protection Bureau (CFPB) took decisive action against installment lender OneMain Financial, demanding the payment of $20 million in penalties and redress. In the consent order, the...more

Michigan Suspends FTX Lend Money Transmitter License and Orders FTX US License as Expired

On January 10, 2023 by the Michigan Department of Insurance and Financial Services (DIFS), issued an order regarding two companies, West Realm Shires Services, Inc. dba FTX US (“FTX US”) and FTX Lend Inc. Both companies are...more

Coinbase Agrees To Settlement With New York Regulator

On January 4, 2023, the New York State Department of Financial Services issued a consent order against Coinbase, a virtual currency company. Pursuant to the consent order, Coinbase will be paying a $50 million penalty to the...more

2023 Statutory Update to Alaska and Florida Virtual Currency & Money Transmission Laws

On January 1, 2023, updates to virtual currency and money transmission laws went into effect. Alaska: Alaska's money transmission regulations have been amended to include virtual currency in the scope of money...more

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