INSIDE COMPLIANCE – Page 81 – Loyola University Chicago School of Law

Small Banks and Credit Unions Given the Opportunity to Pool Resources to Prevent Anti-Money Laundering

October 17, 2018Finance & Banking

In a recent effort to strengthen the money-laundering defenses across the U.S. financial system, small banks and credit unions are being given the option to pool their resources. In a statement issued by the federal depository institutions regulators and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) the federal regulators detail that certain banks and credit unions can enter into collaborative agreements to pool resources for anti-money-laundering compliance purposes. The new regulation will help smaller community banks address the risk of financial crime while keeping the costs low and ultimately help prevent money-laundering.

Banking Regulation

Compliance in the Age of #MeToo

October 16, 2018Uncategorized

Last year the #MeToo movement swept across the country, sparking national attention and debate. Fast forward 11 months and we still grapple with breaking news which exposes the next unsuspecting top executive of workplace misconduct. Victims are finally breaking their silence, leading corporations to reassess corporate culture. In this modern age, compliance is not enough. Corporations might need to reconsider decades old written policies and training programs to ensure safety, success, and growth in the workplace.

Battle Over Pesticide Bans and the Rising Ethical Concerns in Shifting EPA Perspectives

October 16, 2018Uncategorized

The battle over pesticide use has long plagued the agricultural sector. The legal challenges to the use of chlorpyrifos has created a debate about how to protect our agricultural system and the harm caused by these dangerous chemicals. A lawsuit was filed based on the EPA’s failure to follow advice of their own scientists. The battle over the use of certain pesticides, and the shifting focus of the EPA has created concerns over the ethical standards of officials in key positions.

Environmental Protection Agencyenvironmental regulationEPAEthicsFFDCAFIFRAPesticidesTrump Administration

The Path to Compliance: a Spotlight on Ted Banks

October 15, 2018Compliance Spotlight, The Art of Compliance

Ted Banks is a partner at the firm Scharf Banks Marmor and is also an adjunct professor at Loyola University Chicago School of Law, where he teaches a course on corporate compliance. At Scharf Banks Marmor, Mr. Banks concentrates his practice on compliance, antitrust, food law, and other corporate issues. He entered compliance by accident many years ago, and has been an innovator in the field ever since. Mr. Banks has been recognized as an Illinois “Super Lawyer” in the areas of corporate governance and compliance, and he has also been named a Risk & Compliance Trailblazer and Pioneer by the National Law Journal. Here, he has shared his story, tells us the real deal about compliance, and gives advice to students who wish to make compliance their career.

CCPA Paving the Way For State Law’s Privacy Policy

October 15, 2018Uncategorized

After Equifax, one of the largest credit reporting agencies, leaked 143 million people’s personal information in 2017, many state legislators scramble to regulate how businesses collect, protect, and use customer’s personal information.

Journal of Regulatory CompliancePrivacy & Security

FDA Warns E-Cigarette Manufacturers: Stop Teen Epidemic or Face Consequences

October 10, 2018Drugs & Devices

The rise of electronic cigarettes was initially met with relaxed FDA regulation given optimism that they could help adult smokers curb use of more toxic combustible cigarettes. This optimism was in spite of e-cigarettes’ growing popularity among adolescents and young adults. On September 12, the FDA signaled a pivot from this approach when FDA Commissioner Scott Gottlieb described youth e-cigarette use as having reached epidemic proportions. Gottlieb announced that the FDA had issued more than 1,300 warning letters and fines to retailers caught selling e-cigarette products to minors. It also issued an order to the five major e-cigarette manufacturers (Juul, Vuse, Blu, MarkTen XL, and Logic) to each submit a plan outlining how the company will address youth access and use of their products. Failure to submit a sufficient plan could lead the FDA to revisit its earlier decision on flavored e-cigarette products, which allowed manufacturers a grace period until 2022 to receive FDA approval.

e-cigaretteelectronic cigarettesFDAjuulRegulation

Battle in Arizona to Adjust State Water Use Regulations as Climate Change Causes Supplies to Dwindle

October 9, 2018Uncategorized

On March 14, 2018, the United States Department of Agriculture officially designated twelve Arizona Counties as primary natural disaster areas on account of agricultural loses brought on by intensifying drought. Despite being one the hottest and driest states in the nation, the state is one of the most agriculturally productive, sustaining a multi-billion dollar industry. As drought threatens this economic boon, competing interest groups petition the state legislature to adjust water-use regulations that have failed to stem shortages.

Arizonaenvironmental regulationstate regulationWisconsin

Regulatory Rollbacks: Changing the Career Education System

October 8, 2018Uncategorized

In a world where students are swimming in debt, the Education Department has made an effort to regulate career education and ensure students receive a quality education. During the Obama Administration, rules were implemented that require educational institutions to prove they are preparing graduates for gainful employment. In addition, the borrower defense rule allows for federal student loan forgiveness when the student can prove their institution misled them relating to the loan or education services provided. With so many students in debt, what is the appropriate standard of review to apply when determining these regulations?

Betsy DeVosborrower-defenseDepartment of EducationderegulationEducationgainful employmentRegulation

Electronic Health Record Compliance Measures Benefit Patient Centered Care

October 7, 2018HIPAA & Health Information

In a time when data breaches occur fairly frequently, whether it’s credit card information being stolen from department stores or a credit reporting bureau breach affecting hundreds of millions of customers, keeping personal information private seems to get harder every day. That fact may give patients pause when they are asked to sign up for an electronic health record account. A 2017 survey listed electronic health record management as one of patients top concerns. Changes in recent years have led to changes in compliance measures that make electronic health records security an added benefit to patients and ensure the continued increase of their adoption.

CMScomplianceEHRElectronic Health RecordHIPAAHITECHHITECH ActJournal of Regulatory ComplianceMedicaidmedicarePrivacy & SecurityPromoting Interoperability ProgramRegulation

Black Market Midwifery: Lack of Regulation Compromises the Safety of Women Who are Committed to Giving Birth Outside the Hospital Setting

October 4, 2018Uncategorized

Across the United States more and more women are choosing to give birth outside of hospitals. Currently, in Illinois, Certified Professional Midwives are not licensed to provide home birth services. However, over the last decade, advocates in Illinois have urged lawmakers to reconsider this restriction. The most recent attempt in 2017 was unsuccessful once again. While opponents argue that individuals with this level of training should not be providing care to women during delivery, the choice for women who are committed to home birth is not between home and the hospital. It is between home and an illegal or unassisted delivery.

healthcareHealthcare ProfessionalsIllinoisMaternal HealthMidwiferyRegulation