News from the economy, politics and the financial markets
In this section of our news section we provide you with editorial content from leading publishers.
Latest news
CFPB invites comments on new Section 1033 ‘open banking’ rule
As promised, the CFPB is issuing an Advance Notice of Proposed Rulemaking soliciting comments on the agency’s open banking rule....By: Ballard Spahr LLP
Paint by Tokenization: SEC Launches Project Crypto
At the beginning of July, SEC Chair Paul Atkins painted a picture: tokenization was the “next step” in the evolution of securities. Generally, tokenization entails creating a digital representation of a real-world asset — like currency, real estate, or art — on a blockchain. Tokenized assets are a form of “crypto asset,” i.e., assets issued or transferred on a distributed ledger or blockchain....By: Carlton Fields
PACE: A Flexible Economic Incentive That Doesn’t Interfere with a Political Subdivision’s Existing Tax Revenues
PACE leaves your current tax revenues intact. Property Assessed Clean Energy (PACE) financing is an economic development tool that does not subtract or redirect a political subdivision’s existing tax revenues. Many economic development tools provided under Ohio law focus on abating or redirecting tax revenue through some form of public-private partnership....By: Bricker Graydon LLP
What Lenders to Gaming Companies Should Know About Nevada Gaming Law
Nevada, perhaps more than any other state, understands the importance of readily available credit to its licensed casinos and gaming manufacturers. The Nevada Gaming Control Act, which forms the basis for all gaming regulation, specifically provides that the state’s public policy is “that the rights of the creditors of licensees are protected.” Nevada’s gaming regulatory scheme is quite friendly to creditors. Nevertheless, this accommodation must yield to the broader policies under which gaming...By: Womble Bond Dickinson
Debanking: August 2025 Federal Crackdown Signals New Compliance Imperative
The rules around account closures and denials of banking services are shifting quickly. Earlier this month, President Trump issued an executive order taking aim at what he describes as “politicized or unlawful debanking.” The order is a direct response to unsubstantiated claims – mostly raised by conservative commentators – that banks have shut down accounts for ideological reasons. Whether or not that’s happening on any broad scale, the administration is clearly signaling that regulators should...By: Cozen O'Connor
Crypto Brief - Lowenstein Crypto Newsletter - August 21, 2025
Wyoming Becomes First U.S. State to Launch Stablecoin - On August 19, the Wyoming Stable Token Commission (WYSTC) announced the mainnet launch of the Frontier Stable Token (FRNT), marking a historic moment for Wyoming as the first U.S. state to launch a blockchain-based stablecoin. FRNT is fully backed by U.S. dollars and short-duration Treasury securities held in trust for the benefit of FRNT stablecoin holders, pursuant to W.S. 40-31-106....By: Lowenstein Sandler LLP
Happy Clients Never Leave
In the retirement plan business, I’ve watched too many plan providers obsess over competitors—who’s stealing clients, who’s lowering fees, who’s suddenly offering “cutting-edge” solutions. But here’s the truth: if a plan sponsor is happy with their provider, they’re not going anywhere. Period....By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
Insights from Recent SEC Comments on Segment Reporting
The SEC Division of Corporation Finance has a filing review process to monitor and enhance compliance by registrants with applicable disclosure and accounting requirements. Under this process, the SEC Staff reviews registrants’ periodic reports and issues comment letters to registrants. One area of frequent comment by the Staff is segment reporting under generally accepted accounting principles (“GAAP”)....By: Maynard Nexsen
Case-by-Case Approach Helps Financial Services Successfully Navigate Disability-Related Remote Work Requests
In the post-pandemic workplace, employee requests to work from home have become increasingly common — especially as a form of reasonable accommodation under the Americans with Disabilities Act (ADA). For employers in the financial services industry, these requests can raise complex questions about security, compliance, and the essential functions of a role. But one thing is clear: a knee-jerk “no” is not the right answer....By: Jackson Lewis P.C.
NYDFS Imposes $2M Penalty for Violations of its Cybersecurity Regulation
The New York State Department of Financial Services (NYDFS) announced on August 14, 2025, resolution of civil enforcement action requiring Healthplex, Inc., a licensed insurance agent and independent adjuster, to pay a $2 million civil penalty under a consent order for violations of the NYDFS cybersecurity regulation (23 NYCRR Part 500). The NYDFS alleges in the consent order that a threat actor gained access to Healthplex’s information systems through a phishing attack on an employee’s email...By: Pillsbury Winthrop Shaw Pittman LLP
Plaintiffs ask for delay in compliance dates for CFPB open banking rule
The banking plaintiffs in the suit challenging the CFPB’s open banking rule (“Rule”) have asked a federal court to delay the compliance date of the Rule, contending that even though the Trump Administration has said it was rescinding the rule and writing a new one, the compliance dates technically remain in effect....By: Ballard Spahr LLP
What Happens to My Unpaid Wages if My Employer Files for Bankruptcy? - Creditor’s Rights Toolkit
When a company files for bankruptcy, it can be an unsettling time for the company's employees who may worry about job and financial security, including unpaid wages and employee benefits. While these concerns are legitimate, the Bankruptcy Code and bankruptcy process provide some protection to employees in certain circumstances. This article will discuss what happens to unpaid wages when an employer files for bankruptcy. Troutman Pepper Locke's Creditor’s Rights Toolkit is a series that...By: Troutman Pepper Locke
Louisiana earned wage access law goes into effect
An earned wage access (EWA) law has gone into effect in Louisiana. The legislation, passed earlier this year, became law without the signature of Gov. Jeff Landry....By: Ballard Spahr LLP
Guide to Nevada Gaming Law for Institutional Investors
Over the past several decades Nevada gaming law has permitted public companies, institutional investors and other financial entities to invest in Nevada gaming properties without obtaining a license or a finding of suitability for each individual or investor. This long-standing practice enables unlicensed individuals to provide funds to Nevada licensees for the sole purpose of investment, while maintaining the requirement that those in control of a licensed location remain suitable....By: Womble Bond Dickinson
Ohio Supreme Court Ruling Clarifies Whether Banks Owe a Duty to Loan Guarantors
The Ohio Supreme Court overturned the First Appellate District’s ruling in Huntington National Bank v. Schneider (Case No. 2024-0208), clarifying when banks must disclose material information to loan guarantors. In a case involving a $77 million credit facility, the Court held that banks generally have no duty to inform guarantors about risks that might affect their exposure, even when those risks materially increase the guarantor's potential liability....By: Vorys, Sater, Seymour and Pease LLP
NAIC Summer National Meeting: Financial Condition (E) Committee advances formation of new Reciprocal Exchanges (E) Working Group and proposal to amend Holding Company Model Act
Earlier this year, noting “the recent increase in the number of reciprocal exchanges being formed and challenges in assessing the fairness and reasonableness of attorney-in-fact fees being charged to the newly formed reciprocals,” the National Association of Insurance Commissioners’ (NAIC) Risk-Focused Surveillance (E) Working Group recommended that its parent body, the Financial Condition (E) Committee, create a new Reciprocal Exchanges (E) Working Group....By: McDermott Will & Schulte
SEC v. TZP Management Associates, LLC: Insights Into Private Fund Enforcement Priorities Under Chair Atkins
On August 15, 2025, the Securities and Exchange Commission (“SEC”) issued an order settling proceedings against TZP Management Associates, LLC (“TZP”) for allegedly miscalculating management fee offsets between 2018 and 2023. The SEC’s action, based solely on a non-scienter claim, underscores the SEC’s ongoing focus on management fee calculation practices, despite talk of deregulation and a shift toward cases involving fraud and manipulation......By: Proskauer - The Capital Commitment
[Podcast] Open Banking, Financial Data Rights, and What it Means for Crypto
In the latest episode of CryptoCounsel, Frank is joined by his Wiley colleague Duane Pozza for a deep dive into open banking with guest Steve Boms, Founder and President of Allon Advocacy and Executive Director of the Financial Data and Technology Association of North America. They discuss the CFPB’s rule on personal financial data rights and its impact on crypto services and financial innovation – and what may happen next. Tune in to learn more about the unfolding policy debate over open...By: Wiley Rein LLP
UK Financial Services Reform: Strategic Opportunities for Asset Managers
The UK government has unveiled a comprehensive package of reforms aimed at recalibrating the regulatory environment, unlocking productive capital, and reinforcing the country’s status as a global financial hub. For asset managers, these changes present new opportunities and potentially a more agile landscape for growth and innovation....By: Ropes & Gray LLP
Food Venture Financing News – Weekly Issue No. 250
Food Venture Financing Trends - The Better Meat Co., a plant-based meat company, raised $31 million in its Series A financing....By: Davis Wright Tremaine LLP
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