This week saw two items of note in the regulation of digital assets and both came out of the state of New York.
The Return of the Empire State -
A New York State Supreme Court ruled that it has personal and subject...more
8/27/2019
/ Bitcoin ,
Blue Sky Laws ,
Cryptocurrency ,
Currency Exchange ,
Digital Assets ,
Enforcement Actions ,
ETFs ,
Exchange-Traded Products ,
Financial Services Industry ,
Injunctions ,
IRS ,
Martin Act ,
Motion to Dismiss ,
NY Supreme Court ,
Personal Jurisdiction ,
Regulatory Oversight ,
Regulatory Standards ,
State and Local Government ,
State Attorneys General ,
Subject Matter Jurisdiction ,
Tax Liability ,
Virtual Currency
On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking (the Proposed Rulemaking) to implement portions of the Fair Debt Collection Practices Act (FDCPA)....more
5/20/2019
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Financial Regulatory Reform ,
Financial Services Industry ,
NPRM ,
Rulemaking Process ,
Telecommunications ,
Third-Party Service Provider
President Donald Trump effectively stopped the Consumer Financial Protection Bureau’s (CFPB) so-called “arbitration rule,” signing legislation repealing the rule on Nov. 1. The rule would have prohibited providers of certain...more
11/28/2017
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Financial Services Industry ,
Popular ,
Trump Administration
On June 27, 2016, the U.S. Supreme Court declined to review a Second Circuit Court of Appeals decision in the case of Madden v. Midland Funding, LLC. The High Court’s decision will allow a consumer class action against...more
7/13/2016
/ Banking Sector ,
Corporate Counsel ,
Debt Buyers ,
Financial Services Industry ,
Interest Rates ,
Madden v Midland Funding ,
National Bank Act ,
Online Marketplace Lending ,
Preemption ,
SCOTUS ,
Solicitor General ,
Usury
The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...more
4/21/2016
/ 401k ,
Best Interest Contract Exemptions ,
Brokers ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary Duty ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan