On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather than…
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/ Bankruptcy, Consumer Protection, Finance & Banking
One of many provisions in the “One Big Beautiful Bill Act,” passed by the U.S. House of Representatives, would place a 10-year “temporary pause” on states’ ability to regulate artificial intelligence (AI). Initially called a…
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/ Conflict of Laws, Constitutional Law, Consumer Protection, Privacy, Science, Computers, & Technology
A Chapter 11 bankruptcy is often called “reorganization bankruptcy” and is typically used to preserve and maximize the going concern value of the debtor’s business. The life cycle of a Chapter 11 bankruptcy case can be…
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/ Antitrust & Trade Regulation, Bankruptcy, Business Organizations, Commercial Law & Contracts, Finance & Banking
In this episode of The Consumer Finance Podcast, Chris Willis and Lori Sommerfield discuss the latest regulatory, legislative, and litigation developments under the Americans with Disabilities Act (ADA), as accessibility of…
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/ Consumer Protection, Finance & Banking
Last month, the DOJ Criminal Division (Division) revised its Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP), introducing several potentially significant changes intended to further incentivize companies to…
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/ Administrative Law, Business Organizations, Commercial Law & Contracts, Criminal Law, International Law & Trade
On May 28, Senate Bill 840 arrived on Texas Governor Greg Abbott’s desk after passing the Texas House and Texas Senate with bipartisan support. Authored by State Senator Bryan Hughes, the bill aims to increase the state’s…
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/ Conflict of Laws, Construction Law, Real Estate - Commercial, Real Estate - Residential, Zoning, Planning & Land Use
On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant cash…
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/ Commercial Law & Contracts, Consumer Protection, Finance & Banking
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week…
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/ Commercial Law & Contracts, Consumer Protection, Finance & Banking, Mergers & Acquisitions, Securities Law
On June 17, the U.S. Senate voted 68-30 to pass S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the Act). This represents a landmark effort by the U.S. Congress to…
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/ Administrative Law, Consumer Protection, Finance & Banking, Science, Computers, & Technology, Securities Law
On June 16, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC) issued a joint request for public comment on potential ways to address payments…
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/ Administrative Law, Antitrust & Trade Regulation, Consumer Protection, Finance & Banking
On June 17, the Environmental Protection Agency (EPA) published a proposed rule to approve Texas’s application for primary permitting and enforcement responsibility (primacy) for carbon dioxide (CO2) sequestration wells pursuant…
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/ Energy & Utilities, Environmental Law, Taxation, Transportation, Zoning, Planning & Land Use
It is time to assess “foreign private issuer” status. Foreign public and private issuers enjoy the benefits of significant exemptions and exclusions from registration under U.S. federal securities laws based on whether they are…
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/ Business Organizations, Commercial Law & Contracts, International Law & Trade, Securities Law
A week after the approval of the $2.5 billion class action settlement of House v. NCAA (settlement), the NCAA and defendant conferences (i.e., Atlantic Coast Conference, Big Ten Conference, Big 12 Conference, Pac-12 Conference,…
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/ Art, Entertainment, & Sports Law, Education Law, Intellectual Property, Labor & Employment Law
Much has been written in recent weeks about how the renewable energy industry in Texas dodged a bullet — several bullets actually — when three high-profile bills targeting the industry failed to pass in the recent legislative…
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/ Energy & Utilities, Environmental Law
In a closely contested Democratic primary held on Tuesday, June 17, Virginia state delegate Jay Jones narrowly defeated Henrico County Commonwealth’s Attorney Shannon Taylor in the race for attorney general. This outcome sets…
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/ Antitrust & Trade Regulation, Civil Rights, Consumer Protection, Elections & Politics
