Category:

Regulation

Together we go … to the White House?: The Cybersecurity Risks of Peloton

Peloton has a coined the term “together we go far” as their company slogan, and over the course of this year that is exactly what this company has done. Since the company launched in 2012, Peloton has gone far and wide delivering their fitness technology to millions of people across the globe. Peloton is an international company that designs at-home gym equipment and produces virtual workout classes for their customers to live-stream or watch on-demand through their Peloton products. Peloton provides an outlet for fitness and competition while building a positive and inclusive community for their members across the United States and the world. Of the millions of members in the Peloton community, one is our leading man in office President Joe Biden.

Crypto Confusion Leads to Legislative Action: Multiple Bills Introduced to Clarify Federal Regulation of Cryptocurrencies

Cryptocurrencies have often been associated with illegal activities due to the fact that they allow users to remain relatively anonymous. This anonymity is possible because, when transacting with Bitcoin and other cryptocurrencies, you can see where funds are being sent but not who sent or received them. However, there are signs that the use of crypto for unlawful purposes may be falling with illicit activity accounting for just 0.34% of all crypto transactions last year – down from roughly 2% a year earlier. Despite this improvement, cryptocurrency regulation appears to remain a top priority for federal lawmakers. One such example of this is the proposal of an anti-money laundering rule which would require people who hold their cryptocurrency in a private digital wallet to undergo identity checks if they make transactions of $3,000 or more. But Congress does not appear to be stopping there. As cryptocurrencies surged in value in recent days, lawmakers jumped to introduce two new bills aimed at advancing regulation of these precarious digital assets.

Breaking Up the Monopoly on Antitrust

Antitrust laws regulate the concentration of economic power, the core of which was passed under the Sherman Act in 1890 and remain central to antitrust today.  However, the laws are not applied today the way they were in their heyday of antitrust regulation – in the 1970s and 1980s, the Chicago School of Economics took hold over the courts’ antitrust jurisprudence, and since then the courts have been far more amiable to market concentration.  The Chicago School’s economic analysis of law argued that big firms were not a threat to growth and prosperity and have successfully argued for a hands-off approach to monopolies and mergers outside of a narrow focus on consumer welfare. 

Updates to Autorenewal Regulations and Enforcement

In the age of online consumerism, many companies utilize automatic renewal programs to deliver their products and services to customers on a recurring basis for a monthly or annual charge. Recently, autorenewal programs have seen an increase in consumer protection through legislation at both the state and federal level along with enforcement actions brought by private plaintiffs, state attorney generals, and the Federal Trade Commission (“FTC”). Organizations that utilize automatic renewal should be aware of the uptick in autorenewal program enforcement and look to strengthen and update their policies where appropriate.

New Illinois Prejudgment Bill Could Affect Hospitals and Health Care Providers

On March 25, 2021, Illinois Governor J.B. Pritzker vetoed HB 3360, which would have allowed plaintiffs to recover prejudgment interest, at a rate of nine percent, on all damages related to personal injuries or wrongful death. The governor believed this bill was too burdensome on hospitals and healthcare providers since most Illinois hospitals are self-insured, making them directly responsible for paying the costs of this legislation. However, the governor’s veto letter expressed a willingness to pass prejudgment interest legislation if problems with the current bill, including more robust protections for health care providers, were addressed. That same day, the Illinois House and Senate passed SB 72, which addressed some of the governor’s concerns.

Lawmakers and Regulators Call for Action After Archegos Meltdown

Last week, the finance industry watched one of the biggest implosions of an investment firm since the 2008 financial crisis. Archegos Capital Management rocked the industry when it was forced to liquidate huge positions in blue-chip companies after some risky investment strategies went south. The financial instruments used in this risky investment strategy are called total return swaps. The Archegos meltdown has lead lawmakers and regulators to call for increased scrutiny of the swaps.

Federal Bill May Soon Make Privacy Regulation Patchwork a Thing of the Past

Lydia Bayley Associate Editor Loyola University Chicago School of Law, JD 2022 While the COVID-19 pandemic undeniably pushed many legislative agendas to the backburner, some seem to be heating back up. With the 117th Congress now in session, data privacy is once again moving to the forefront of federal legislative debate. For decades, the United States has …
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Illinois House Bill 3498: Telehealth Expansion and Payment Equality

The Coalition to Protect Telehealth and State Representative Deb Conroy of the Illinois 46th House District have introduced legislation that would permanently expand access to telehealth services for Illinoisans.  The legislation also details provisions that promote telehealth payment rate partity between telehealth services and in-person care.  In a direct response to the COVID-19 pandemic, telehealth providers have been granted temporary waivers to align their payment rates with those prescribed for traditional care in health care facilities.  These waivers have served as stabilizing financial mechanisms for many practitioners experiencing revenue loss due to the restrictions on elective procedures and non-emergency care.  The proposed legislation would give patients more freedom to utilize telehealth services by removing the patient responsibilities to demonstrate hardship or access issues.

The Revised Lead and Copper Rule – Will it make an impact?

In 1991, the U.S. Environmental Protection Agency (EPA) published a regulation under the Safe Drinking Water Act to control lead and copper in drinking water, referred to as the Lead and Copper Rule (LCR). The Rule was created to protect public health by minimizing lead and copper levels in drinking water, primarily by reducing water corrosivity through corrosion control treatment. While implementation of the LCR has resulted in major improvements in public health, there is still much that needs to be done as research continues to show cities today see higher than normal levels of lead in their drinking water.

Developments Surrounding ERISA Preemption

The Employee Retirement Income Security Act (“ERISA”) regulates the administration of employee benefit plans. ERISA aims to protect the interest of employee-beneficiaries by setting minimum standards for employee benefit plans and voluntarily established pensions. The Act’s preemption clause works to prevent states from regulating these same plans. Initially, a state statute was considered to violate the preemption clause when it possessed, “a connection with, or reference to, covered employee benefit plans.” A few years later the standard was modified, states were considered to have violated ERISA preemption if the state, “mandates employee benefit structures or their administration.”