Under the original statutory provisions, both rules were to have
been issued by April 17, 2011. Draft rules were
originally released in December 2010 and the final rules
have been long-delayed.
On June 22, 58 members of Congress sent a letter to SEC
Chairman Mary Schapiro urging the Commission to either
schedule a vote on both rules by July 1, or to respond in writing
by June 29 explaining the long delay and definitive date for a
vote. The Commission missed both deadlines, but issued its
announcement of the upcoming open meeting on July 2.
Section 1502 requires companies that utilize tin, tungsten,
tantalum, and gold to conduct and disclose due diligence on their
supply chains in order to identify whether the those minerals
originated in the Democratic Republic of Congo or adjoining
Section 1504 requires companies to disclose payments
made to foreign governments and the Federal Government for the
extraction of oil and minerals.
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In moving for summary judgment, Nike argued that under its policies and procedures a credit card customer could not have reasonably perceived Nike's request for a ZIP code as a condition to completing a credit card transaction.
Telephone subscribers who knowingly release their phone numbers to a business will be deemed to have given their invitation or consent to the called at the number which they have given, absent instruction to the contrary.
The Consumer Financial Protection Bureau has enacted a new rule that will prohibit the inclusion of mandatory arbitration provisions and waivers of federal statutory causes of action in consumer mortgage and home equity loan agreements.
A federal court in the Western District of Wisconsin has now expanded the reach of the TCPA beyond auto/predictive dialers, holding in Nelson v. Santander Consumer USA that the federal statute may apply to calls even if an auto/predictive dialer is not used to initiate them.
The CFPB took the first step in enforcing the "abusive" standard under the Dodd-Frank Act’s prohibition of unfair, deceptive and abusive acts and practices by filing a federal action against a Florida debt-relief company.
The Consumer Financial Protection Bureau and the United States Attorney’s Office for the Southern District of New York announced a joint law enforcement effort in U.S. District Court for the Southern District of New York involving a debt-settlement business and its principals.
Just two months after the District of Columbia Circuit Court of Appeals ruled in Canning v. National Labor Relations Board that President Barack Obama's January 2012 appointment of three new members of the National Labor Relations Board was "constitutionally invalid," a split panel of the Third Circuit Court of Appeals has followed suit, invalidating another NLRB action.