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Consumer Law Round Up Blog

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California Legislature Passes New Consumer Financial Protection Law

USA - September 14 2020 On August 31, 2020, the California Legislature passed Assembly Bill 1864. In general, this bill (1) renamed the Department of Business Oversight as…

White Paper: Litigation and Enforcement Considerations for FinTech PPP Lenders

USA - September 3 2020 The Paycheck Protection Program (PPP)— Congress’s signature small business relief program in the historic Coronavirus Aid, Relief, and Economic…

RIP “White” Chocolate Litigation (2012-2020)

USA - July 31 2020 While some varieties of food labeling lawsuits (such as lawsuits challenging the labeling of “natural” products) show no sign of dying off, other…

SEC and CFTC Actions Against Cryptocurrency App Developer for Unregistered Security-Based Swaps Highlight Risks for Fintech Companies

USA - July 24 2020 A recent enforcement action by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in the Fintech space…

OCC Adopts Final Rule Rejecting Madden

USA - July 13 2020 Last month, the Office of the Comptroller of the Currency’s (OCC) adopted a final rule clarifying that the terms of a national bank’s loans remain…

Update on the PPP Litigation Landscape

USA - June 25 2020 The implementation of the Paycheck Protection Program (PPP) under Title I of the Coronavirus Aid, Relief and Economic Security Act (the CARES Act)…

Ready for Launch (Redux)? An Updated Analysis of the Federal Reserve’s Rapidly Changing Main Street Lending Facilities

USA - June 19 2020 On June 8, 2020—shortly after announcing the program was set to launch—the Board of Governors of the Federal Reserve (Federal Reserve) announced…

Mitigating COVID-19’s Additional Disparate Impacts - Fair Housing and Lending Obligations Under the CARES Act

USA - May 8 2020 As data began pouring in from cities and states hit hard by COVID-19 it became clear that, even though the virus is color blind, certain racial and…

Early CARES Act Ruling Recognizes Broad Lending Discretion for Participating Lenders

USA - April 21 2020 On April 13, 2020, a federal district court in Maryland issued one of the first rulings to interpret the provisions of Congress’s Coronavirus Aid…

New York’s SHIELD Act in Full Force

USA - April 15 2020 On July 25, 2019, New York Governor Andrew Cuomo signed into law the Stop Hacks and Improve Electronic Data Security (SHIELD) Act, which updates New…