On July 25, 2024, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the “Agencies”) issued a joint statement to banks regarding risks...more
On July 25, federal regulators issued a joint statement to further put banking organizations on notice of the inherent risks of collaborating with fintechs in offering deposit products and services. This guidance aims to...more
A significant milestone in the digitalisation of trade was reached on 26 July 2024 with the World Trade Organisation (WTO) Joint Statement Initiative (JSI) on Electronic Commerce publishing the text of its agreement on...more
Artificial intelligence remains a focal point for state and federal regulators. Washington AG Bob Ferguson recently convened the inaugural meeting of the state’s AI Task Force, while the FTC, DOJ, and international antitrust...more
Banking regulators have issued a joint statement outlining the potential risks that financial institutions face in arrangements with third parties to deliver bank deposit products and services and examples of risk management...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
On July 25, 2024, the federal banking agencies issued a joint statement flagging potential risks in bank-fintech arrangements, along with a request for public information (RFI) on the benefits, risks, and risk management...more
Last week, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) issued a joint statement highlighting...more
Competition authorities in the United States, the European Union, and the United Kingdom released a joint statement on competition in generative AI and other AI products, continuing the drumbeat that policymakers need to...more
On 23 July 2024, the European Commission, the UK’s Competition and Markets Authority, and the U.S. Department of Justice and Federal Trade Commission issued a joint statement setting out their commitment to work together to...more
The U.S. Department of the Treasury (Treasury) announced a new joint statement of policy and new principles (Joint Statement) for responsible participation in voluntary carbon markets (VCMs) with the U.S. Department of...more
On May 17, 2024, the Director of the Division of Corporation Finance of the Securities and Exchange Commission, Erik Gerding, and the Chief Accountant, Paul Munter, issued a statement regarding International Financial...more
In April 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Commissioner for Justice and Consumer Protection of the European Commission (European Commission) announced that three meetings had been...more
Following their announcement last July regarding their plans to coordinate on a range of consumer financial protection issues , the CFPB Director and his European counterpart, the Commissioner for Justice and Consumer...more
OFCCP announced Tuesday morning the release of a new Artificial Intelligence (“AI”) landing page. The landing page, which encourages readers to “check back often for updates” contains links to the Agency’s thoughts about the...more
On April 4, 2024, multiple federal agencies charged with enforcing various laws signed a joint statement asserting that...more
Standard-essential patents (SEPs) are on the rise. A key factor undergirding that rise is the desire for device connectivity in all things, and the fact that reliable and robust connectivity is impossible without using key...more
The Situation: In October 2023, the Office of the Comptroller of the Currency ("OCC"), Federal Reserve System, and Federal Deposit Insurance Corporation ("FDIC," and the three agencies collectively, "Agencies") finalized...more
WASHINGTON – Acting Secretary of Labor Julie Su and U.S. Equal Employment Opportunity Commission Chair Charlotte A. Burrows today issued a joint statement to mark the first anniversary of the Pregnant Workers Fairness Act...more
After "an extensive public consultation process" since late July 2023, the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) Antitrust Division on Dec. 18, 2023, jointly announced the release of final Merger...more
On December 1, 2023, the United States Third Circuit Court of Appeals (“Third Circuit”) upheld PJM Interconnection, L.L.C.’s (“PJM”) latest minimum offer price rule (the “Focused MOPR”), denying challenges to both the...more
On September 26, 2023, U.S. export enforcement authorities, jointly with enforcement authorities in four allied countries (the Five Eyes), issued additional guidance in order to prevent the diversion of goods in violation of...more
Last month, the Justice Department (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint statement that reminded financial institutions that all credit applicants are protected from discrimination on the...more
The joint statement provides helpful guidance on the civil rights implications of considering an individual’s immigration status under the ECOA. On October 12, 2023, the Consumer Financial Protection Bureau (CFPB) and...more
On November 6, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) released a new joint notice concerning...more