In the FDIC’s latest monthly update on enforcement decisions and orders, the agency published recent consent orders it entered against both a New York-based and an Ohio-based bank, the latest in the agency’s series of enforcement actions against bank-fintech
Sheppard, Mullin, Richter & Hampton LLP
Sheppard Mullin is a full-service Am Law 100 firm with more than 1000 attorneys in 16 offices located in the United States, Europe and Asia. Since 1927, industry-leading companies have turned to Sheppard Mullin to handle corporate and technology matters, high-stakes litigation and complex financial transactions. In the U.S., the firm’s clients include more than half of the Fortune 100
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Latest CFPB Supervisory Highlights Keys in on Accuracy in Consumer Credit Reports
On April 8, the CFPB published its Spring 2024 Supervisory Highlights detailing key findings from the CFPB’s recent examinations into perceived accuracy problems in the credit reporting system. Notably the report focused solely on institutions’ credit reporting violations, and not on…
Washington State Passes New “True Lender” Legislation
On March 25, Washington State became the latest in a growing list of jurisdictions to introduce a “true lender” law with the passing of bill SB 6025. The legislation, similar to laws in other states would characterize a person…
Colorado Introduces an AI Consumer Protection Bill
Colorado is the latest state to introduce a bill focused on consumer protection issues when companies develop AI tools. The bill imposes obligations on developers and deployers of AI systems. Additionally, the bill provides an affirmative defense for a developer…
China Issues Regulations on Facilitating and Regulating Cross-Border Data Flow
On March 22, 2024, nearly six months after the release of the “draft Provisions on Regulating and Promoting Cross-border Data Transfer” (the “Draft Rules”), the Cybersecurity Administration of China (the “CAC”) formally released the “Regulations on Facilitating and Regulating…
Maryland Paid Family Leave Employer Contributions Begin This Year – What Employers Need to Know and Expect
In 2022, the Maryland General Assembly passed the Time to Care Act of 2022 (the “Act”), setting up a paid family and medical leave program for Maryland employees. Through Family and Medical Leave Insurance (“FAMLI”), eligible Maryland employees may receive…
China Semiconductor Export Regulations, Episode V – Updates and Corrections to the Advanced Computing and Semiconductor Regulations
USPTO Issues Additional Guidance on Use of AI Tools in Connection with USPTO Matters
The USPTO issued guidance on February 6, 2024 that clarified existing rules and policies and discussed how to apply them when AI is used in the drafting of submissions to the Patent Trial and Appeal Board (PTAB) and Trademark Trial…
USPTO Issues Additional Guidance on Use of AI Tools in Connection with USPTO Matters
The USPTO issued guidance on February 6, 2024 that clarified existing rules and policies and discussed how to apply them when AI is used in the drafting of submissions to the Patent Trial and Appeal Board (PTAB) and Trademark Trial…
New Court Ruling Pokes Holes in Contractual Limitation of Liability Language in Commercial Leases
Creating certainty in the inherent uncertainty of the future is the name of the game when it comes to drafting commercial leases. When courts overrule provisions that the parties to the lease have agreed upon, however, that supposed certainty goes…