Last year in Universal Health Services, Inc. v. United States ex rel. Escobar et al. (discussed on this blog), the Supreme Court reminded litigants that the False Claims Act “is not an all-purpose antifraud statute.” In that case, the Court expanded upon the FCA’s materiality standard, calling it both “rigorous” and “demanding.” How
CFPB Issues Game-Changing Rule On Arbitration Clauses
On Monday, July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued a game-changing final rule regarding the use of arbitration clauses in consumer contracts. The Rule is effective 60 days following its publication in the Federal Register and applies only to contracts entered into more than 180 days after that date. The final rule
The CFPB’s Alternative Data RFI: Making Your Response Count
The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information (RFI) Regarding Use of Alternative Data and Modeling Techniques in the Credit Process, available here. The deadline for response is May 19. This post will provide practical advice on how to submit an effective RFI response.
The RFI is the latest in
H-1B Employers Face Increased Site Visits
Employers using the H-1B visa program should take note as additional site visits may be on the horizon. U.S. Citizenship and Immigration Services (“U
SCIS”), part of the Department of Homeland Security, recently announced a new targeted approach to detect H-1B visa fraud and abuse and increased site visits of H-1B employers.
In selecting worksite
SEC Opens Cease-and-Desist Order Proceeding against Broker-Dealer and Chief Compliance / AML Officer
As we have highlighted in prior posts, regulators of financial institutions, including FinCEN, FINRA and SEC, have increasingly brought actions to bring organizations – and individuals – into compliance with AML / BSA obligations. This enforcement activity is consistent with FinCEN’s August 2014 Advisory, now nearly three years old, emphasizing the idea that U.S.
Will Cryptocurrency Abuse be an Enforcement Focus for the IRS this Tax Season?
Tax filing season began January 23rd, and with its arrival the IRS began rolling out its annual list of the so-called “Dirty Dozen.” The Dirty Dozen list is an educational effort to inform the public about scams, but it also offers insight into the tax enforcement issues on the IRS’s radar.
Particular tax schemes often
SEC Annual Exam Guidance: Cybersecurity, Robo-Advising, and Retirement
The S
EC recently announced its Office of Compliance Inspections and Examinations’ (OCIE) 2017 priorities. Though these listed priorities are not exhaustive and remain flexible in light of market conditions, industry developments, and ongoing risk assessment, it is helpful for companies to keep these items in mind when evaluating securities compliance programs in 2017.
The
SEC: $7 Million Award to be Split by Three Whistleblowers
On 
Monday, January 23, 2017, the Securities and Exchange Commission (SEC) awarded more than $7 million to be split among three whistleblowers. The three individuals helped the SEC in its investigation and prosecution of an investment scheme.
The identity of whistleblowers is protected by law however, the SEC did disclose that the primary whistleblower
Supreme Court Rules on False Claims Act’s Seal Requirement
In the m
idst of a False Claims Act (FCA) case, the relators have blatantly violated the FCA’s seal provision. Surely this will lead to dismissal, right? Wrong.
On Tuesday, December 6, the Supreme Court unanimously ruled that violating the FCA’s seal requirement does not necessarily demand that a case be dismissed.
The case before
Companies Challenge CFPB’s Authority to Issue Civil Investigative Demands
As an
y company that has received a civil investigative demand (CID) from the Consumer Financial Protection Bureau (CFPB) knows, the Bureau’s authority to issue CIDs is a powerful tool that leaves recipients with limited options to challenge or limit their compliance obligations. Recently, the CFPB has fought back against CID challenges, asking two federal