The Latest
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Nonbanking financial institutions must notify FTC of breach under now-live amended rule
Breached organizations must now notify the Federal Trade Commission of security incidents no later than 30 days after discovery.
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Opinion
How legal teams are mastering AI
By focusing first on automating high-volume tasks, attorneys and other legal staff become comfortable using the new tools from the ground up.
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Door opens wider for workplace discrimination claims
A notable Supreme Court ruling makes clear that employees need not show “significant harm” in job transfer bias cases.
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On-demand pay could create wage violations, Connecticut cautions employers
The warning comes as states and the federal government weigh options for regulating earned wage access products.
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Rulemaking is the wrong way to get fee transparency, airlines say in DOT lawsuit
An industry coalition accuses the federal government of regulatory overreach for releasing a rule mandating how airlines are to disclose ancillary fees to consumers.
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Boeing may face criminal charges over fatal 737 Max crashes: DOJ
The aircraft maker could now be on the hook for defrauding federal regulators over two 737 Max crashes that killed 346 people.
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Fed, OCC to hold public meeting on Capital One-Discover deal
Concerns about the $35B merger proposal, which has already faced opposition, are likely to surface again at the July public meeting.
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Big fines aren’t burdensome for many companies, analysis finds
In a number of cases, headline-grabbing fines only require a few days’ worth of earnings to pay.
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Former Bed Bath & Beyond sues Hudson Bay investors for $300M
The lawsuit states that the hedge fund reaped a short-swing profit weeks before the retailer's bankruptcy. Hudson Bay disputes the claims.
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Fraud detector Traceable zeroes in on GenAI threats
The startup is rolling out new AI-related threat detection capabilities on the heels of securing $30 million in funding from investors, including Citi Ventures.
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Kabbage to pay $120M in PPP fraud settlements with DOJ
The second-largest PPP lender in the nation by application volume “knowingly submitted thousands of false claims” and employed lax fraud controls, the Justice Department said.
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Challenge to SEC’s proxy reporting rule dismissed by appeals court
The Fifth Circuit Court of Appeals said the lawsuit put forward by four Republican-led states lacked standing and failed to provide evidence of alleged increased compliance costs.
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CFPB will keep defending late fee cap
The 5th Circuit Court of Appeals blocked the Consumer Financial Protection Bureau’s $8 late fee cap on Friday, but the federal agency said it will continue to “defend” the rule.
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OSHA heat standard clears regulatory hurdle
A committee has unanimously recommended that the agency advance the proposal for a heat safety rule.
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SCOTUS decision vastly expands potential copyright damages
In a high-profile case involving music popularized by Flo Rida and other rap artists, the top court opens the door to big awards for infringement.
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Red Hat’s DEI program discriminatory, lawsuit says
A senior manager says he was fired for being white and male and retaliated against for his merit-based hiring advocacy.
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White House wants to hold the software sector accountable for security
Federal officials are taking steps toward a long-stated goal of shifting the security burden from technology users to the companies that build it.
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Garden leave could add value as noncompete alternative
Paying outgoing employees to remain as a resource while a replacement gets up to speed could gain currency as companies seek new ways to protect their interests.
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Opinion
Microsoft is thinking out of the box on AI. Will the Biden Administration?
Microsoft’s moves in the AI space are the kind of “nonacquisition acquisitions” that the FTC should look at closely through an antitrust lens.
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Upstart subpoenaed by SEC over AI, loans
“We are cooperating with the SEC and are unable to predict the outcome of this matter,” the fintech lender said in a filing Tuesday.
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Mountain Express’ former CFO testifies that leadership siphoned funds
The court also spoke with the counsel for a Mountain Express subsidiary, who said its CEOs may have funneled more than $14 million from the company.
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California bans hidden fees starting July 1
The state will require businesses to include all mandatory fees in listed prices, making it harder for restaurants to impose service charges.
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16% of employees plan to quit once noncompete ban takes effect
7% plan to start a rival business, according to a survey of 500 employees conducted by a small business lender.
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Opinion
3 practical business applications for AI in corporate legal
Legal bill review, spend management and matter management are ways that in-house legal teams can use AI in their operations today.
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Only 34% of firms deploy safeguards against generative AI threats: Splunk
Generative AI gives cyberattackers an edge over cyber-defenders, according to security experts surveyed by Splunk.