Legal and Regulatory Developments SPOTLIGHT: Banks Push for Quick End to Illinois Law Reducing Credit-Card Processing Fees Crain’s Chicago Business – September 3, 2024 (subscription may be required) Lawyers representing bank and credit union trade groups argued Tuesday for a quick ruling in a lawsuit seeking to strike down enforcement [...]
“I would say 9 times out of 10 … what’s really motivating people [to blow the whistle] is the desire to do the right thing. They see something that is wrong, and they want to step up and they want to deal with it. … And part of our job [...]
The SEC continues to go after companies that make inaccurate statements about the sustainability or environmental impact of products or practices — so called “greenwashing.” The most recent example is the hot water in which Keurig Dr Pepper Inc. found itself. The SEC charged Keurig with making inaccurate statements in [...]
Legal and Regulatory Developments SPOTLIGHT: Maryland Gets Tough on BNPL Payments Dive – September 3, 2024 Zip and Four Technologies revamped their buy now, pay later strategies in Maryland after the state cited them for operating without the correct licenses. In May, the state fined Four Technologies for offering BNPL [...]
Today, (August 30), the Commodity Futures Trading Commission (CFTC) announced a $4 million whistleblower award “to an insider whistleblower who provided information that led the Division of Enforcement to open an investigation into ongoing misconduct.” This follows a relatively modest spate of awards this year, including awards on August 8 ($1M), June [...]
Legal and Regulatory Developments SPOTLIGHT: CFPB Seeks Developers’ Comments on Apple’s Rules on Tap-to-Pay Access PYMNTS – August 28, 2024 The Consumer Financial Protection Bureau (CFPB) is seeking public comment on Apple’s recently announced rules governing how financial companies and app developers offer tap-to-pay functionality on its devices. “The CFPB [...]
When it comes to the safety of our military, there is no room for shortcuts. Austal USA LLC, a shipbuilder out of Mobile, Alabama, crossed that line by allegedly supplying the military with “butterfly valves” that did not meet military grade standards. Butterfly valves are quarter-turn valves that rotate to [...]
Last Thursday (August 22), the Department of Justice (DOJ) joined a whistleblower lawsuit alleging the Georgia Institute of Technology and Georgia Tech Research Corp. violated the False Claims Act by failing to meet cybersecurity requirements on certain Department of Defense contracts. The whistleblowers who originated the action were members of [...]
In a landmark case for affordable housing justice, the City of Los Angeles has agreed to pay $38.2 million to resolve a False Claims Act whistleblower suit alleging misuse of Department of Housing and Urban Development (HUD) grant funds. Whistleblower Mei Ling, an L.A. resident who uses a wheelchair, played [...]
After a relatively quiet year of SEC whistleblower awards, the SEC seems to be on a bit of a roll with its announcement today of a $24 million award to two whistleblowers. This follows last Friday’s award (August 23) of a whopping $98 million to two whistleblowers, which followed two [...]
