INSIDE COMPLIANCE – Page 51 – Loyola University Chicago School of Law

Understanding the Executive Order on Rebuilding and Enhancing Programs to Resettle Refugees and Planning for the Impact of Climate Change on Migration

February 19, 2021The Art of Compliance

Climate change directly and indirectly impacts a range of human rights including the basic rights to life, food, water and housing. Along with all developed countries, the United States has an affirmative obligation to take measures to prevent and address climate change impacts thereby not only mitigating its dire effects, but ensuring that all displaced persons have, at a minimum, their basic needs met. These displaced persons are more often than not those who have contributed the least to climate change and are now disproportionately suffering from its harm.

Climate Changeclimate migrationenforcementenvironmental regulationJournal of Regulatory Compliancerefugee status

Uh Oh Venmo…The CFPB is Cracking Down under the Biden Administration

February 18, 2021Uncategorized

Chandler Wright Associate Editor Loyola University Chicago School of Law, JD 2022 “Can I Venmo you?” is a phrase that many of us find ourselves saying on a weekly basis. Venmo has become not just a money-transfer application, but also a verb. In some ways, Venmo has also become a social media platform among friend …
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Biden AdministrationCFPBConsumer Financial Protection Bureaudodd-frank actfinancial regulationFinancial services complianceJournal of Regulatory CompliancePayment ServicesTrump AdministrationVenmo

Complex Data, Creating Complex Risks for Sports Entities

February 18, 2021Athletic Regulation

Advanced data driven infrastructure is now essential for sports entities to remain competitive, yet few structures are in place to manage the risks inherent in the collection of this sometimes, highly personal information. Data is utilized for virtually every aspect involved in the game, including; to enhance player performance, improve player health, deepen fan engagement, and increase betting predictions. These developments do not come about without risks to the rights of those who the data is extracted from.

Biometricdata privacydata regulationhippaJournal of Regulatory ComplianceprivacySportssports gamblingtechnology

Antitrust & The Competitive Health Insurance Reform Act of 2020

February 17, 2021Uncategorized

The Competitive Health Insurance Reform Act of 2020 (“CHIRA”) was signed into law on January 13, 2020, shifting not only how health insurance markets operate but lowering the bar for federal government agencies to bring successful actions against anticompetitive behavior. Prior to becoming law, health insurance companies retained robust antitrust exemptions under the McCarran-Ferguson Act (the “Act”). While it does not completely eliminate antitrust exemptions, the passage of CHIRA sent a strong signal that the federal government intended to promote competitive conduct in health insurance markets and limit the scope of these antitrust exemptions. While the upshot is that consumers may benefit from increased access and potentially lower cost, the health insurance industry must begin to adjust its conduct or face contentious litigation.

AntitrustHealth Insurance

Robinhood Fined $65 Million for Misleading Customers

February 17, 2021Fraud & Abuse

On December 17, 2020, the Securities and Exchange Commission (“SEC”) charged Robinhood Financial, LLC (“Robinhood”) with material misrepresentation and misleading its users about its revenue sources, specifically Robinhood’s receipt of payments from certain principal trading firms for routing its customer orders to them. The SEC charges against Robinhood also relate to certain statements about the execution quality Robinhood achieved for its customers’ orders and Robinhood’s failure to satisfy its duty of best execution. Robinhood agreed to pay $65 million to settle the charges.

Journal of Regulatory CompliancePrivacy & SecurityRobinhoodSEC

Final Rule and Updates to Non-discrimination Regulations of the ACA

February 16, 2021Uncategorized

The Department of Health and Human Services (“HHS”) finalized revised regulations that implemented Section 1557 of the Affordable Care Act (“ACA”) in June of 2020. This section prohibits discrimination within health programs and activities receiving federal financial assistance based on race, color, sex, age, disability, and national origin. In comparison to the Obama-era regulations issued in 2016, the new final rule does away with gender identity and sexual orientation nondiscrimination protections not only under Section 1557, but under ten other federal regulations as well. This also includes a roll back of certain health insurance coverage protections for transgender individuals.

ACAcomplianceDiscriminationhealthcareHHSJournal of Regulatory ComplianceRegulation

One of Wall Street’s Hottest Trends: The SPAC

February 16, 2021Finance & Banking

SPACs have been around for decades and often existed as last resorts for small companies that would have otherwise had trouble raising money on the open market. But they’ve recently become more prevalent because of the extreme market volatility caused, in part, by the global pandemic.

While many companies chose to postpone their IPOs due to the pandemic, others chose the alternate route to an IPO by merging with a SPAC. A SPAC merger allows a company to go public and get a capital influx more quickly than it would have with a conventional IPO.

Bankingfinancefinancial regulationRegulationSEC

Chicago City Council Debates Urban Forestry Advisory Board To Address Declining Tree Population

February 15, 2021Uncategorized

Across the United States, metropolitan areas are experiencing a net loss of about 36 million trees every year. That amounts to about 175,000 acres of lost tree cover. Meanwhile, Chicago loses more than 10,000 trees every year due to, in part, inefficient tree trimming and management. Fewer trees means less shade and worse air quality. In response, several Chicago City Council Aldermen are proposing the Urban Forestry Advisory Board (“UFAB”) in order to assess current policies and propose innovative ways to protect Chicago’s tree population.

Chicago City CouncilChicago OIGChicago treesDOFDSSenvironmental regulationtree trimmingUFABUrban Forestry Advisory Board

Cargo Congestion at America’s Container Ports

February 12, 2021Uncategorized

Container ports from coast to coast are inundated with empty cargo containers. The Federal Maritime Commission has commenced an investigation into America’s import and export flows, as many ports are overcrowded with empty containers that have yet to be collected or transported back to their point of origin. Carriers that fail to remove empty containers from the port run the risk of incurring fines or penalties, but there is widespread inconsistency with regard to port authorities and their enforcement practices. In addition, the global pandemic has exacerbated container congestion, as shipping flows reached an all-time high in 2020 and citizens around the world have become increasingly reliant on online retailers to deliver household goods.

Journal of Regulatory ComplianceTransportation

Re-Regulating the Automotive Industry & the Road Ahead

February 11, 2021Uncategorized

A new President and a changing administration mean new priorities across some, if not all of the major executive agencies. One of the more heavily impacted industries will be transportation—specifically the automotive sector. From re-instating stricter emissions standards to moving forward with automated vehicle regulations, the automotive industry in the early 2020s should see innovation and progress at the forefront of the country’s new federal regulatory scheme.

Automated VehiclesAutomotive IndustryAutonomousDepartment of Transport’s National Highway Traffic Safety AdministrationDoTEnergyEPANHTSAPresident BidenRegulationTransportation