CSBS Announces Support for Fintech Advisory Panel Recommendations on State Licensing
As most fintech companies know, determining whether state financial services licenses are required, let alone applying for and obtaining them, is an expensive and time-consuming process. In the past few years, the Conference of State Bank Supervisors has pursued various ways to reduce these burdens, including as part of its "Vision 2020" initiative. That initiative saw the creation of a Fintech Advisory Panel composed of 33 companies in the fintech industry. On February 14, 2019, CSBS agreed to implement 14 recommendations proposed by the panel's small business lending and payments subgroups.
Ninth Circuit Ruling Bolsters ADA Website Accessibility Suits
The Ninth Circuit's recent ruling in Robles v. Domino's Pizza, LLC provides yet another boon to plaintiffs across the country claiming that company websites may violate the Americans with Disabilities Act unless they make specific accommodations to consumers who have visual, auditory, or other disabilities. While such litigation was already rapidly proliferating nationwide, Robles becomes one of the few federal appeals court decisions to specifically address website accessibility. It will undoubtedly shape future accessibility lawsuits, both in and outside of the Ninth Circuit, in several key respects.
BlueHippo in the Red? Not on the FTC’s Watch
Several high profile bankruptcies have occurred in recent years. Most would consider a bankruptcy proceeding a last resort. But some, seeking to expunge a debt, have contemplated that bankruptcy may be a safe way to avoid the long-arm of the law. The Federal Trade Commission, however, has taken great steps to ensure that an FTC judgment firmly stays on a wrongdoer’s balance sheet. In late December of last year, the FTC convinced a bankruptcy court that a party subject to a contempt order could not shield itself from the FTC’s collection efforts by filing for bankruptcy.
Mergers & Acquisitions Compliance for Debt Buyers
Venable partner Jonathan Pompan joined the panel discussion "Mergers & Acquisitions Compliance for Debt Buyers" at the 2019 Receivables Management Association (RMA) Annual Conference. The panel walked through a debt buyer acquisition from start to finish, highlighting the different perspectives of involved parties for companies of all shapes and sizes. The panel also provided ideas for tackling due diligence challenges pre- and post-acquisition, identifying risk areas, and creating a plan for merging compliance programs. Click here to access the presentation materials and here to read a previous article on due diligence mistakes to avoid in M&A.
Vendor Management and Integration
During the 2019 Receivables Management Association (RMA) Annual Conference, Venable counsel Alexandra Megaris joined a roundtable discussion and workshop on vendor management expectations and how to "right size" your vendor management program. Click here to access the presentation materials.