Over the past few years, many community banks have pursued fintech partnerships to diversify revenue and expand consumer offerings. These types of partnerships, however, come with enhanced regulatory scrutiny, and it is crucial that community banks evaluate compliance programs as part of any fintech partnership.
On June 16, 2026, with mounting pressure from member states and industry groups, the European Parliament formally endorsed a provisional agreement delaying a significant enforcement milestone in the European Union’s Regulation (EU) 2024/1689 (the “Artificial Intelligence Act” or “AI Act”), with significant consequences for businesses.
In addition to federal privacy laws, numerous states have enacted their own financial privacy statutes that banks and other financial institutions must navigate when responding to requests for customer information.[1] In a recent decision, Oklahoma’s intermediate appellate court seemingly narrowed the scope of claims arising
Businesses, employees, lawyers, and parties to litigation are rapidly incorporating generative artificial intelligence into their daily practice to tackle legal issues and prepare for actual or anticipated litigation. But when a party uses an AI platform like ChatGPT or Claude, are those “communications” protected from
For current and prospective business owners considering a sale and professionals navigating the private M&A landscape, keeping a finger on the pulse of “market terms” is critical to successfully structuring, negotiating, and executing transactions. The Market Trends Subcommittee of the American Bar Association Business Law
In August of 2022, the North Carolina Supreme Court increased the risk of malpractice liability for registered nurses practicing in the state by overruling a prior decision that had shielded North Carolina nurses from certain malpractice liabilities for the preceding 90 years. The decision, styled
Earlier this month, the Federal Trade Commission (“FTC”) reached a settlement with Zoom Video Communications, Inc. (“Zoom”) regarding alleged misrepresentations related to its security program. The FTC alleged that Zoom misled users by “touting that it offered ‘end-to-end, 256-bit encryption’ to secure users’ communications, when
Attorneys, and clients, are often guilty of taking the position that any communication involving an attorney is privileged and not subject to disclosure. The law, of course, is much more nuanced. In today’s world, where reliance on in-house counsel is expanding, and attorneys are consulted
Earlier this year, new regulations promulgated by the Committee on Foreign Investment in the U.S. (the “CFIUS”) that implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) took effect, strengthening the oversight authority and expanding the jurisdictional reach of the CFIUS. Although the
On October 11, 2019, the chairman of the U.S. Commodity Futures Trading Commission (“CFTC”), the director of the Financial Crimes Enforcement Network (“FinCEN”), and the chairman of the U.S. Securities and Exchange Commission (“SEC”) issued a joint statement (the “Joint Statement”) to remind persons and
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