Newsletters

08.28.19

Federal Reserve Warns of D&O Policy Exclusion Concerns

In a new letter to all financial institutions supervised by the Board of Governors of the Federal Reserve System, the Federal Reserve cautioned directors and officers about the potential limitations of director and officer (D&O) liability insurance policies.


08.28.19

Payroll Advance Industry in Regulators’ Crosshairs

The payroll advance industry is the subject of a newly announced multistate investigation seeking information to enable regulators to determine whether there is unlawful lending by online companies engaged in this business.


08.28.19

CFPB: Settlement Agreements, Call for Payday Lending Rule, New Ombudsman

In Consumer Financial Protection Bureau (CFPB or Bureau) news, the battle over its constitutionality continues in a New York federal court, the Bureau announced more enforcement activity, student lending remained a hot-button issue and Sen. Sherrod Brown (D-Ohio) called for the CFPB to move forward ...


08.28.19

Could California’s McGill Problem Be Solved on Appeal?

The battle over arbitration in California continues, with two defendants in a recent U.S. Court of Appeals, Ninth Circuit decision appealing the court’s reaffirmation of McGill v. Citibank.


08.28.19

Federal Reserve Banks Report On Small Businesses Nonemployer Firms

In a pair of new reports, the 12 Federal Reserve Banks provided data on the financing needs, decisions and outcomes of (i) small businesses (fewer than 500 employees) and (ii) nonemployer firms.


08.28.19

California Regulator: Lenders Moving Away From Small-Dollar Loans to High-Interest Installment Loans

California non-bank consumer lenders are moving away from small-dollar short term payday loans and are, instead, embracing longer-term installment loans with amounts over $2,500 to avoid interest rate caps, according to the state’s banking regulator.


08.27.19

Two California Supreme Court Cases to Keep an Eye On

The U.S. Court of Appeals for the Ninth Circuit has certified two cases to the California Supreme Court on issues with the potential for major impact on employers in the state: meal and rest break policies and the retroactive effect of the landmark Dynamex Operations West, Inc. v. Superior Court of ...


08.27.19

SEC’s Whistleblower Program Reaches New Heights

The Securities and Exchange Commission (SEC) announced an award to an overseas whistleblower, with the $500,000 payout bringing the total amount awarded under the program to roughly $385 million.  


08.27.19

EEOC Can’t Mess With Texas, Fifth Circuit Says

The U.S. Court of Appeals for the Fifth Circuit sided with Texas in its challenge to the Equal Employment Opportunity Commission’s (EEOC) guidance for employers on the use of criminal records in hiring.  


08.27.19

Court Takes Points Off for Employer’s FMLA Violation

An employee’s lawsuit alleging violations of the Family and Medical Leave Act (FMLA) will move forward after the U.S. Court of Appeals for the Sixth Circuit found the employer’s point system effectively violated the plaintiff’s statutory rights.