On February 27, 2025, the Financial Crimes Enforcement Network (FinCEN) announced that it will not impose fines, penalties, or enforcement actions against any companies for failing to file or update beneficial ownership information (BOI) reports required under the Corporate Transparency Act (CTA) by the current deadline of March 21, 2025. […]
Technology & Intellectual Property Update
Fintech and Payments 2025 – Predictions for the Year Ahead
on Friday, 21 February 2025 in
Technology & Intellectual Property Update: Arianna C. Goldstein, Editor
Nobody would ever accuse the life of a fintech and payments compliance specialist to be dull. The last few months of 2024 certainly lived up to this standard. The end of the year saw flurry of rulemakings and moves by banking and fintech regulators trying to clean house before the […]
Continuing Scrutiny on Data Brokers
on Friday, 21 February 2025 in
Technology & Intellectual Property Update: Arianna C. Goldstein, Editor
Over the last year we have seen increased focus on regulating data brokers – those entities that sell personal information of individuals with whom they do not have a direct business relationship. The FTC is continuing this push with a recent consent agreement. Last month, the FTC finalized a Consent […]
An Update on Standing in Data Breach Class Actions
on Friday, 21 February 2025 in
Technology & Intellectual Property Update: Arianna C. Goldstein, Editor
Data breach class actions lawsuits were initially met with skepticism. Plaintiffs’ attorneys alleged damages for data breaches by claiming their clients suffered from emotional stress worrying about their financial data being stolen and possibly resulting in an identity theft or actual financial harm. Judges quickly dismissed those initial cases. As […]
File Your CTA Beneficial Ownership Report with FinCEN on or prior to March 21, 2025
on Thursday, 20 February 2025 in
Technology & Intellectual Property Update: Arianna C. Goldstein, Editor
As of February 18, 2025, FinCEN filing obligations under the Corporate Transparency Act (CTA) are required. The nationwide injunction previously imposed by the U.S. District Court for the Eastern District of Texas, Smith v. U.S. Department of the Treasury, has been lifted by that court. By changing course, the Texas […]
