The United States District Court for the Southern District of New York, in a case brought by the Federal Trade Commission (“FTC”), entered a Final Judgement against Merchant Cash Advance (“MCA”) operator Jonathan Braun for $3,421,067 for monetary relief to address harm caused to small businesses and $16,956,000 as a civil penalty. The Final Judgement followed a three day jury trial in January of 2024. Read More
Year: 2024
Stay Of Enforcement Of Ccpa Regulations Lifted
On February 9, 2024, the California Court of Appeal reversed a trial court judgment that had stayed enforcement of the most recent California Consumer Privacy Act (CCPA) regulations. The decision makes the CCPA regulations that had previously been stayed by court order until March 29, 2024 become immediately effective. The regulations implement the California Privacy Rights Act of 2020 (“CPRA”), passed in 2020 and effective January 1, 2023. Read More
U.S. Supreme Court Hears Oral Arguments In Cases Challenging Chevron Deference
On January 17, 2024, the U.S. Supreme Court heard oral arguments in a pair of cases seeking to challenge the Chevron doctrine. The Chevron doctrine refers to the judicial deference given to administrative actions based on the 1984 case of Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 468 U.S. 837 (1984). Under Chevron, the Court set forth a legal test as to when the court should defer to an agency’s interpretation, providing that judicial deference is appropriate where the agency’s interpretation was not unreasonable, so long as Congress had not spoken directly to the precise question. Read More
Colorado AG Enters Into Agreement With Collector Over Collecting Tribal Loans
The Colorado Attorney General entered into an Order and Assurance of Discontinuance with TrueAccord, a licensed debt collector, in regard to the collection of loans made by unlicensed entities associated with Native American tribes with finance charges that exceeded the rate permitted for unlicensed entities under the Colorado Uniform Consumer Credit Code (“UCCC”). Read More
Senate Fails To Override President’s Veto Of Small Business Data Lending Rule Resolution
The Senate failed to override President Biden’s veto of the joint Congressional resolution of disapproval of the CFPB’s Section 1071 rule (“Rule”). The Rule, known as 1071 for its section in the DoddFrank Act, is currently on hold pending the outcome of a Supreme Court case challenging the constitutionality of the CFPB’s funding based on decisions in Texas and Kentucky. Read More