Newsletters

09.30.19

Initiative Filed to Change the Medical Injury Compensation Reform Act of 1975

On September 25, 2019, parents with children who require lifelong care after suffering permanent injuries caused or compounded by their medical care filed an initiative in California that would fundamentally change the state’s nearly 45-year-old $250,000 cap on pain-and-suffering-type damages ...


09.25.19

Advocate Behind the CCPA Announces Second, More Expansive Ballot Initiative

On Tuesday evening, the privacy advocate and real estate investor who initially qualified the California Consumer Privacy Act (CCPA) for the November 2018 ballot, Alastair Mactaggart, announced that he would seek to qualify a new consumer privacy initiative for California’s November 2020 ...


08.14.19

California DBO Proposes Commercial Finance Disclosure Regulations and Seeks Further Comments

The California Department of Business Oversight (DBO) has issued its long-awaited draft regulations to implement SB 1235, a 2018 law requiring consumer-like disclosures for commercial financing in California.  The DBO has requested public comment on these draft regulations, giving interested ...


08.14.19

New York DFS Joins the Innovation Movement

Joining the innovation trend, the New York Department of Financial Services (DFS) announced the creation of a new Research and Innovation Division.


07.31.19

California Legislature Advances Changes to Financing Law

A closely watched bill that would have a significant impact on the financial services industry continues to advance through the California Legislature, although a second measure that would regulate lead generators has stalled.


07.31.19

Will GOP Credit Reporting Bill Gain Bipartisan Support?

Credit reporting companies would be subject to supervision and examination authority by the Consumer Financial Protection Bureau (CFPB) and would be barred from using Social Security numbers, under new legislation proposed by Rep. Patrick McHenry (R-N.C.).


07.31.19

Regulators Reveal “Secret Sauce” on BSA/AML Exams

Shining the light on previously undisclosed examination practices, federal banking regulators and other entities issued an important joint statement addressing their risk-focused approach to BSA/AML examinations.


07.30.19

Senate Progresses on Surface Transportation Reauthorization

As the 116th Congress begins its August recess, one of the few big issues with bipartisan support—reauthorization of surface transportation programs—is making progress in the Senate.


07.17.19

Fintech News: State Licensing Streamlined, More States Step into the Sandbox

The Conference of State Bank Supervisors (CSBS) recently announced that 23 states have now agreed to participate in a streamlined licensing process under which nonbanks requiring a license to operate under state law can benefit from the cooperative efforts of the state regulators in approval of ...


07.17.19

Task Force Considers Fintech Regulation

The newly formed House Financial Services Committee’s Task Force on Financial Technology (Committee) recently held its first hearing, and it included some interesting perspectives from both U.S. and U.K. regulators.