On September 18, 2024, the Securities and Exchange Commission (SEC or Commission) approved amendments to Regulation NMS (the Amendments) that take several steps intended to narrow bid/ask spreads, reduce transaction costs for...more
The Securities and Exchange Commission adopted amendments to Reg. NMS on September 18, 2024, covering a broad range of market structure and regulatory issues facing the equities market...more
Last week, the U.S. Chamber of Commerce (Chamber) joined five other trade associations to sue the Consumer Financial Protection Bureau (CFPB) and its director Rohit Chopra in Texas Federal District Court, seeking a court...more
Tuesday, the Consumer Financial Protection Bureau (CFPB) issued a Final Rule capping most credit card late fees at $8. The CFPB believes its new rule may save consumers more than $10 billion a year in late fee charges for an...more
March 5, 2024- Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued a statement after the Consumer Financial Protection Bureau (CFPB) released its final rule regarding credit card late fees...more
As part of its ongoing attack on bank fees, the Consumer Financial Protection Bureau (CFPB) has issued two proposed rules to regulate fees charged by banks: one on overdraft services, and one on nonsufficient funds fees. The...more
On August 26, 2020, the Los Angeles City Council unanimously voted to extend the 15% cap on delivery fees charged to restaurants. The fee cap was originally adopted on June 10, 2020, and was set to expire on August 31, 2020....more
On June 3, 2020, the Los Angeles City Council adopted an ordinance capping third-party food delivery services fees at 15% for the duration of the COVID-19 public health emergency. The ordinance will become part of the City’s...more
IFA reform: proposals for agents - The FIFA Council and the Football Stakeholders Committee unanimously adopted a series of reforms with respect to football player agents in order to "protect the integrity of football and...more
As previously informed in our Client Alert from January 25, the Mexican Federal Executive branch submitted a bill that was published in the House of Representatives Parliamentary Gazette on January 23, 2019, with the purpose...more
On January 8, 2019, the Supreme Court of the United States decided Culbertson v. Berryhill, No. 17-773, holding that the Social Security Act permits an attorney fee award greater than 25 percent of the claimant’s past-due...more
In a case concerning a contract for the construction of a pipe conveyor system, ProEnergy Services, LLC, and its surety Western Surety Company (collectively, “ProEnergy”), appealed a judgment confirming an arbitration award...more
The European Commission has published a proposed Regulation to amend the Regulation on cross-border payments in the EU. The Regulation on cross-border payments provides, among other things, that charges for cross-border euro...more
On Jan. 11, 2018, the Surface Transportation Board (STB) handed a win to a coal shipper in a maximum rate reasonableness case. In the first rate case victory by a shipper in seven years, the STB has ordered CSX...more
Texans approved a constitutional amendment changing the state’s home equity loan landscape beginning January 1. Our Financial Services & Products Group examines the new law and its implications and limitations....more
On November 7, 2016, Texas voters passed Proposition 2, which amends several familiar requirements for home-equity loans under Article XVI, Section 50 of the Texas Constitution, and which bids adieu to the old adage: “once a...more
Title insurance companies and closing agents handling transactions involving homeowners’ and condominium associations have long been frustrated by the timing and cost associated with obtaining estoppel letters from these...more
The influential Delaware bankruptcy court issued a recent decision that all secured lenders need to be aware of. In this decision, the bankruptcy court held that the fees of the official creditors’ committee were not limited...more
Appellate Court Advance Release Opinions: AC36040, AC36270 - Barton v. Norwalk - Congratulations to Elliott B. Pollack and Tiffany K. Spinella on their big win before the Appellate Court. This decision upheld a...more
The Department of Defense (DoD) recently published its Final Rule amending the Military Lending Act’s (MLA) implementing regulation. The MLA, passed by Congress in 2006, provides active duty service members and their...more
Recently, in Carnell Constr. Corp. v. Danville Redevelopment & Housing Auth., the federal appellate court covering West Virginia, Virginia and the Carolinas upheld a trial court’s determination that a Virginia statute places...more
Federal officials recently approved “reference pricing,” a new cost-control mechanism that allows insurers to put a dollar limit on the amount that health plans pay for some expensive medical procedures, such as knee and hip...more
Introduction - Each July, the Medicare agency makes policy proposals for changes in reimbursement for services delivered by physicians, hospital outpatient centers, and independent laboratories. For CY2014, CMS...more