Last week, the SEC issued three new interpretations related to the so-called “intrastate offering exemption,” which is a registration exemption that facilitates the financing of local business operations.
With any innovative technology, there’s bound to be some growing pains. With the IRS recently deeming Bitcoins property, and not currency, this could certainly fall into that category—though many have said it’s much worse. Still, there is some good to this.
Lo and behold, not four days after we wrote our last post on the illegality of obtaining bank records, a postcard appeared in our mailbox promising “statewide bank searches” for under $300. I was intrigued. I thought, maybe they know something we don’t and they’ve found a legal way to find banking information.
The Telephone Consumer Protection Act’s safe harbor for calls made with the prior express consent of the called party is destroyed the moment the debtor says, “Stop calling me!” So too, a collector can be liable for autodialed calls to a third party even though a debtor gives that number as her own.
Fourth Circuit Affirms Dismissal of Securities Fraud Complaint Where Inference of Scienter Was Not Sufficiently Strong
In Yates v. Municipal Mortgage & Equity, LLC, No. 12-2496 (4th Cir. Mar. 7, 2014), the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of a securities fraud claim under Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. § 78(b), against defendant Municipal Mortgage & Equity (“MuniMae”) and its individual officer and director defendants.
One frequently asked question is whether members of a corporate board’s audit committee face heightened liability exposures.
From time to time, I have allowed students at the local beauty school to learn on a real head – mine. Invariably, I regret my decision, so much so that I am now resigned to using a professional service for future visits.
Pretty soon we’ll all be data privacy lawyers.
CFPB Proposes Extension of Remittance Transfer Rule Depository Institution Exception and Other Revisions
The CFPB has issued a proposal to extend for five years the temporary exception in its remittance transfer rule that allows insured depository institutions to estimate fees and exchange rates in certain circumstances.
A bill introduced by Republican Senator Dan Coats would further limit the CFPB’s supervisory authority as to insured depository institutions and credit unions with total assets of $10 billion or less.