Every state has an attorney general who serves as its chief legal officer—by counseling state legislatures and government agencies and by representing the public interest. In many states, the AG also plays a uniquely...more
In a landmark decision issued on May 16, the Supreme Court held that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is constitutionally sound, as it does not violate the Appropriations Clause. The...more
For the first time in its history, the Consumer Financial Protection Bureau recently invoked supervisory authority over a nonbank lender, World Acceptance Corp., one of the largest small-dollar installment lenders in the...more
After years of financial and investment firms solidifying their Environmental, Social and Governance (ESG) bona fides, the political push-and-pull surrounding “woke” investing seems to be causing a significant withdrawal from...more
The rise of the state attorney general (AG) as a regulator, disruptor and policy engine should be well-known to everyone in the business world by now. If your company doesn’t have a strategy for building relationships with...more
Last week, 13 Republican state attorneys general published a letter to the largest companies in the country, creating confusion, uncertainty and risk for businesses that have sought to adopt diversity, equity and inclusion...more
7/18/2023
/ Attorney General ,
Board of Directors ,
Corporate Governance ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Gender Equity ,
Minorities ,
New Legislation ,
Publicly-Traded Companies ,
Quotas ,
Race Discrimination ,
SCOTUS
Note: This is the third in a series of alerts focused on the overlapping ESG scrutiny between state attorneys general and Congress. Our first discussed how to prepare when ESG inaction and action both yield risk. Our second...more
Congress’ intent to collaborate with state attorneys general could not get much clearer. In March 2023, Brownstein’s ESG and State Attorneys General teams noted there were clear signals that congressional investigations were...more
Regardless of a company’s stance on ESG (Environmental, Social, and Governance), the current political climate brings unique risks for parallel investigations. There are clear signals that congressional investigations coupled...more
On Feb. 22, 2023, the U.S. Department of Justice announced a new Voluntary Self-Disclosure Policy to encourage self-disclosure of potential criminal activity in exchange for varying levels of amnesty from criminal charges....more
On Jan. 11, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would require nonbanks under its supervisory authority, subject to limited exceptions, to annually register information about...more
Seeking to “enhance market monitoring and risk-based supervision efforts,” the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has proposed a new, online registry of nonbank financial firms in order to track, what...more
Election Day this year saw races in 30 states and one in D.C. for attorney general, an increasingly relevant political position that holds enormous power over individuals and businesses alike. Tuesday’s elections resulted in...more
Last week, the U.S. Court of Appeals for the Fifth Circuit ruled that the Consumer Financial Protection Bureau’s (CFPB) independent funding mechanism is unconstitutional. Under the Dodd-Frank Act, the CFPB is not funded...more
The Department of Justice is sending a clear message to companies when it comes to corporate crime: invest in strong compliance structures and culture and come forward quickly with information about misconduct—or suffer the...more
The Consumer Financial Protection Bureau recently warned companies that, under federal anti-discrimination laws, they still owe consumers an explanation of specific reasons for denying credit applications, even if they use...more
As the curtain closed on the 2022 legislative session, the Colorado General Assembly passed the Colorado False Claims Act (the “CFCA”). The CFCA represents Colorado’s commitment to protecting public funds and pursuing those...more
As predicted, health care fraud enforcement under the False Claims Act (“FCA”) continues to be a top priority for the Department of Justice (“DOJ”). In fiscal year 2021, the DOJ obtained more than $5.6 billion in settlements...more
Within days of gaveling in the 2022 Colorado legislative session, a coalition of state leaders introduced a bill to create the Colorado False Claims Act (the “CFCA”). The brainchild of Attorney General Phil Weiser, the CFCA...more
Deputy Attorney General Lisa Monaco was unequivocal in announcing the Department of Justices’s new enforcement priorities: the agency will be increasing scrutiny over corporations, their employees and, in particular, their...more
At the American Health Law Association’s Annual Meeting this week, Michael Granston, deputy assistant attorney general for the Department of Justice’s (“DOJ”) commercial litigation branch, made one thing very clear—health...more
One day before the Sept. 5 deadline, the Colorado Secretary of State’s Office has completed the signature line review for citizen ballot initiatives and certified seven for the November ballot. These are the same seven...more
The latest deadline for proponents of a proposed state ballot initiative hoping to get their measure on the November ballot has passed. Monday, Aug. 6, was the last possible day to submit the required number of signatures to...more
(Note: The information below is an update to a previous client alert regarding the status of ballot initiatives with approved petition formats and current appeals before the Colorado Supreme Court.)
With the deadline to...more
With the deadline to submit proposed ballot measures for the November election passing last Friday, Colorado voters and policymakers can now see the full range of potential measures—and topics—that voters might see when they...more