In this Bitcoin Magazine article, Troutman Pepper attorneys Stephen Piepgrass, James Stevens, Chris Carlson, and Namrata Kang discuss how in the absence of clear federal policy around emerging cryptocurrency-related technologies, state attorneys general will continue to take coordinated actions to regulate the industry. Recent enforcement actions against BlockFi and Celsius demonstrate that state regulators view
On January 14, a D.C. federal judge granted the Consumer Financial Protection Bureau’s (CFPB) motion to dismiss a case filed by the National Association for Latino Community Asset Builders (NALCAB), after the NALCAB contested the CFPB’s decision to repeal the ability to repay requirements.
The Payday Rule has been both modified and challenged since its
On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices. The $1.8 billion settlement will undoubtedly draw eyes, but perhaps just as important
Some cigarette pack labels may soon feature the phrases “95% less nicotine,” “helps reduce your nicotine consumption,” and “… greatly reduces your nicotine consumption.” On December 23, 2021, the Food and Drug Administration (FDA) issued modified risk granted orders to 22nd Century Group, Inc.’s VLN King and VLN Menthol King cigarettes, allowing the company to
Kamran Salour (CIPP/US, CIPP/E, and CIPT), an experienced data security attorney, has joined Troutman Pepper’s national Cybersecurity, Information Governance, and Privacy practice in Orange County as a partner. Salour will help grow the firm’s Data Security Incident Response team. He joins the firm from Lewis Brisbois.
“Kamran brings an excellent blend of incident response, compliance,
Last month, the Federal Trade Commission (FTC or Commission) published its Statement of Regulatory Priorities (Statement), announcing its regulatory agenda for 2022. The Statement suggests that the agency will focus largely on rulemaking. New rules will seek to advance President Biden’s agenda of promoting competition in the American economy.
Rulemaking Focus
The FTC “is an
On January 3, Virginia Attorney General-elect Jason Miyares announced key members of his leadership team, including the chief deputy, solicitor general, deputy attorneys general, and other senior staff members.
These members will be sworn in on January 15, and will then head the Virginia Office of Attorney General’s five legal divisions: Solicitor General Division, Government
Introduction
Although marijuana legalization continues to be a hot topic in the new year, it is noteworthy that the federally legal hemp industry continues to develop across the country. New York, one of the nation’s major markets, now counts itself among the states with a fully regulated hemp cultivation, processing, and retail program. The New
Twenty-one Democratic state attorneys general claim that many Federal Housing Administration (FHA)-approved mortgage servicers have routinely flouted the agency’s mandated COVID-19-related relief options, including its loan modification program. In a December 21 letter to the FHA , the state attorneys general asked the FHA to ensure that all FHA lenders are implementing and fully complying
The scope and scale of state attorneys general investigations has expanded for several reasons, including a perceived lack of enforcement at the federal level. Many state attorneys general are not reticent to fill a perceived regulatory void, and they routinely conduct investigations and bring enforcement actions when they observe a federal agency is not moving