Colorado has significantly narrowed what was poised to become the nation’s first comprehensive artificial intelligence governance law, replacing a sweeping compliance regime with a more targeted framework centered on transparency, consumer rights and disclosure requirements. At the same time, a recent Federal Trade Commission policy...
Federal and state regulators are expanding their scrutiny of digital business practices by treating privacy violations and deceptive consumer practices as part of the same enforcement framework. The trend that could have implications for companies handling sensitive personal data well beyond the healthcare sector. The...
Twenty-five states filed a lawsuit Monday (Aug. 3) asking the U.S. Court of International Trade to declare the Trump administration’s latest tariffs illegal, the Office of the New York State Attorney General said in a Monday press release. The lawsuit alleges that the administration violated Section 301 of the Trade Act, which...
Four U.S. regulators have reached separate agreements with UBS Financial Services in which the company will pay a total of $125 million to settle violations of Bank Secrecy Act (BSA) anti-money laundering (AML) and countering the financing of terrorism (CFT) rules. UBS Financial Services settled...
The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) have each proposed raising the thresholds of credit that banks can extend to insiders. The Fed’s proposal would revise its Regulation O, which restricts banks’ extension of credit to their executive officers, directors, principal shareholders...
California is launching a new cabinet-level agency that state officials say will consolidate consumer protection and business oversight of practices that increase costs for consumers and undermine fair competition. The California Business and Consumer Services Agency (BCSA), which officially launched July 1, will be led...
The Commodity Futures Trading Commission (CFTC) has sued to stop New York’s attempt to halt the operations of prediction market Kalshi, which was announced Friday (July 31). “Rather than seek reasoned answers from the courts, [New York Attorney General] Letitia James and New York seek...
Several banking associations filed an amicus brief Tuesday (July 28) supporting a case that challenges an Oregon law (House Bill 4116) that caps interest rates charged by out-of-state banks, according to a Wednesday (July 29) blog post by law firm Ballard Spahr. The amicus brief...
The CLARITY Act may not make it out of the Senate alive this year, but that may not be a fatal blow to the digital asset market. Speaking to CNBC’s “Squawk on the Street” program on Monday (July 27), Securities and Exchange Commission (SEC) Chairman...