On 22 December 2021, the conference of German data protection supervisory authorities (“DSK”) published its Guidance for Providers of Telemedia Services (Orientierungshilfe für Anbieter von Telemedien). Particularly relevant for providers of websites and mobile applications, the Guidance is largely devoted to the “cookie provision” of the German Telecommunication and Telemedia Privacy Act (TTDSG),
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Will Biden deliver on his commitment to Africa in 2022?
By Covington Team on
Posted in Africa
When he was running to win the White House, President Joe Biden’s campaign committed to implement a “bold strategy” toward Africa, and one that would be based on a “mutually respectful engagement” and a reinvigorated diplomacy, if elected. Indeed, the campaign was the first-ever to outline how it would promote the interests of the African…
OCC to Reconsider June 2020 Community Reinvestment Act Final Rule
By Randy Benjenk & Covington Team on
Posted in Compliance Issues, Regulatory
On Tuesday, May 18, 2021, the Office of the Comptroller of the Currency (“OCC”) announced that it will reconsider its June 5, 2020 final rule (“final rule”) overhauling its regulations implementing the Community Reinvestment Act (the “CRA”). The final rule, which applies only to national banks, federal savings associations, and insured federal branches (“OCC-regulated banks”),
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Treasury Secretary Yellen to Appoint Acting Comptroller of the Currency
By Covington Team on
Posted in Regulatory
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Supreme Court Ruling Complicates FTC’s Ability to Obtain Consumer Redress
By Covington Team on
Posted in Consumer, Regulatory
On April 22, the Supreme Court unanimously ruled in AMG Capital Management v. Federal Trade Commission that § 13(b) of the Federal Trade Commission (“FTC”) Act does not authorize the FTC to obtain equitable monetary relief, such as restitution for consumer harm. This development will make it more complicated for the FTC to obtain consumer
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Supreme Court Narrows Meaning of TCPA Autodialer Definition
By Covington Team on
Posted in Litigation, Uncategorized
Yesterday, the Supreme Court issued its decision in Facebook v. Duguid, adopting a narrow interpretation of a key definitional term in the Telephone Consumer Protection Act (TCPA) and resolving the circuit split we previously described here and here.
In effect, the Supreme Court’s opinion means that to qualify as an “automatic telephone dialing
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Understanding H.R. 1 (Part 4): Conflict-of-Interest and Revolving-Door Issues
By Covington Team on
Posted in Government Ethics, Political Law
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Sustainability in Financial Services: The EU Sustainable Finance Disclosure Regulation and the Taxonomy Regulation
By Covington Team on
A heightened focus on green finance and green investments has renewed legislative impetus, culminating in a series of regulatory developments across the European Union and more recently, the UK. Some of these notable developments encompass green efforts by the Task Force on Climate-related Financial Disclosures; the European Non-Financial Reporting Directive 2014/95/EU; and the European
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2020 Competition Law Developments – Reviewing a Notable Year and Looking Ahead to 2021
By Covington Team on
Posted in Antitrust, Competition
Competition law appears to be at an inflection point. Over the past year, authorities, policy makers, and commentators across the globe have debated whether current laws and enforcement approaches are appropriately calibrated or whether they should be changed, including to try to protect interests that go well beyond the consumer welfare standard that has been
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BSA/AML Reform in the 2021 NDAA Becomes Law
By Covington Team on
On January 1, 2021, the Senate voted to override President Trump’s veto of the National Defense Authorization Act (the “NDAA” or “Act”), which includes over 200 pages of significant reforms to the Bank Secrecy Act (“BSA”) and other anti-money laundering (“AML”) laws that have been working their way through Congress for several years. The Senate’s
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