Troutman Pepper State Attorneys General Monitor – April 2022

Flight. 2022, Number 3


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Regulatory monitoring will provide in-depth analysis of regulatory actions taken by various state and federal authorities, including state attorneys general and other state administrative agencies, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC) . Blog contributors will include attorneys with multiple specialties, including regulatory enforcement, litigation, and compliance.


FREEDOM OF INFORMATION ACTION

FOIA Record of Judge Ketanji Brown Jackson

By

Stephen Piepgrass and

Thornhill Abbey

On February 25, President Biden nominated Justice Ketanji Brown Jackson of the District of Columbia Court of Appeals to fill the Supreme Court vacancy created by the retirement of Justice Stephen Breyer. Judge Jackson’s resume includes nearly 10 years of service on the bench – she was first appointed by President Obama to the District Court for the District of Columbia in 2012 and served as a federal trial judge until upon his appointment to the Circuit Court in 2021. judge in the nation’s capital, his role included a slew of cases involving the federal Freedom of Information Act (FOIA), as individuals and businesses challenged the withholding by federal agencies of records requested under federal law. Judge Jackson’s rulings in many of these cases provide insight into his position on important FOIA issues. If upheld by the highest court, Judge Jackson’s position and opinions on these matters could affect the privacy interests, intellectual property rights and commercial interests of all individuals and businesses who contract and correspond with government agencies.

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UPDATES ON ALCOHOL AND TOBACCO

Dr. Califf Takes Over at the FDA: Five Takeaways for the Tobacco Industry

By

Bryan Haynes,

Augustin Rodriguez, and

Michael Jordan

On February 15, the Senate

confirmed cardiologist Robert M. Califf, MD, head of the United States Food and Drug Administration (FDA). He’s no stranger to the agency. Dr. Califf served a brief stint as the FDA’s Food and Drug Commissioner from February 2016 to January 2017, and prior to that, he served as Deputy Commissioner of Medical Products and Tobacco from February 2015 to February 2016. So, what could his tobacco nomination mean? industry? We have five takeaways.

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Biden bans the import of Russian alcohol and the export of certain alcohol and tobacco products to Russia and Belarus

By

John West and

Nick Ramos

Most of us are well aware of the continuing fallout from the Russian Federation’s invasion of Ukraine. As the conflict continues, the US government has taken steps to support Ukraine, while punishing the Russian Federation for its violation of international law and standards. In line with this strategy, on March 11, President Biden issued a

executive decree prohibiting certain imports, exports and new investments with regard to the continued aggression of the Russian Federation (the EO), prohibiting the following:

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The Treasury publishes a report on competition for the alcohol market

By

John West and

Nick Ramos

Like us before

reported,

Executive Order 14036 (EO 14036) required the Secretary of the Treasury, who oversees the Alcohol and Tobacco Tax and Trade Bureau (TTB), to report to the Chairman of the White House Competition Council (the Council) , assessing the current market structure and competitive conditions in the United States Alcohol Market.

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RIGHT TO REPAIR MOVEMENT

Right to repair movement without right to repair laws

By

Seth Erickson,

Stephen Piepgrass,

Ashley L. Taylor, Jr., and

Daniel Waltz

The “right to repair” movement continues to gain momentum and, as expected, litigation has begun even in the absence of enacted right to repair laws. In a class action lawsuit recently filed in the U.S. District Court for the Northern District of Illinois, plaintiff alleges that the equipment manufacturer deliberately prevents farmers from repairing their own equipment or using independent repair shops, which Plaintiff alleges constitutes an antitrust violation under Sections 1 and 2 of the Sherman Act, 15 USC §§ 1, 2. To see Eagle Lake Farms Partnership v. Deere & Co.no. 3:22-cv-50078 (ND Ill.).

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UTAH CONSUMER PRIVACY ACT

Utah Consumer Privacy Act Awaiting Signing

By

Robyn Lin,

Daniel Waltz,

Stephen Piepgrass,

Ashley L. Taylor, Jr., and

Sadia Mirza

On February 25, the Utah Senate passed Utah

Consumer Privacy Act (the UCPA), which closely resembles both the Virginia Consumer Data Protection Act (the VCDPA) and the Colorado Privacy Act (the CPA). The House passed the bill unanimously on March 2. The bill is now being sent to Governor Spencer Cox, who has 20 days to sign it or veto it. If signed, Utah would be the fourth state to pass a comprehensive privacy bill after California, Virginia and Colorado.

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FINTECH UPDATES

Senate Democrats Introduce the Improved Digital Asset Sanctions Compliance Act of 2022

By

Keith Barnett,

Kalama Lui-Kwan,

Ethan Ostroff, and

Pug McCrory

On March 17, Senators Elizabeth Warren (D-MA), Jack Reed (D-RI), Mark Warner (D-VA), and Jon Tester (D-MT) introduced the

Digital Asset Sanctions Compliance Improvement Act (Act) in an effort to ensure that blacklisted Russian individuals and companies do not use cryptocurrency to evade economic sanctions.

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Biden signs cryptocurrency executive order

By

Keith Barnett,

Jay Dubow,

Kalama Lui-Kwan,

Ethan Ostroff,

Ghillaine Reid,

Zacharie Epstein,

Carlin McCrory and

Gerar Mazarakis

On March 9, President Biden signed a

Executive Decree (the Order) to establish the first comprehensive federal digital asset strategy for the United States that would foster digital asset innovation while balancing the associated benefits and risks. The order directs the Department of Justice, the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau (CFPB) and numerous other federal agencies to study the implications legal and economic aspects of the creation of an American central bank. Digital currency (CBDC).

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FTC enters into consent agreement with payment processor to open merchant accounts for fictitious companies

By

Keith Barnett,

Kalama Lui-Kwan,

Ethan Ostroff, and

Pug McCrory

On March 15, the Federal Trade Commission (FTC or Commission) released a consent agreement with Electronic Payment Systems and its owners John Dorsey and Thomas McCann (collectively, EPS) for allegedly opening credit card processing merchant accounts for shell companies in the name of Money Now. Funding (MNF).

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Fed Launches FedNow Service Provider Showcase

By

Keith Barnett,

Kalama Lui-Kwan,

Ethan Ostroff, and

Pug McCrory

On March 8, the US Federal Reserve Banks launched the

Overview of FedNow Service Providers (Showcase) to introduce financial institutions and users to the various services to support them in setting up the

FedNow service (Service).

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Blocking payments to Russia and its impact on payment companies and Fintechs

By

Keith Barnett,

Kalama Lui-Kwan,

Ethan Ostroff, and

Pug McCrory

On February 21, President Biden issued a

Executive Decree block the assets of certain people and prohibit transactions concerning the invasion of Ukraine by Russia. The next day, the US Treasury’s Office of Foreign Assets Control (OFAC) released

restriction on activities with Russian natural and legal persons. On February 25, these

lists have been updated to include political leaders such as Vladimir Putin.

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