Thirty-three state attorneys general ("AGs") urged the Consumer Financial Protection Bureau ("CFPB") to reconsider a reported decision to discontinue reviewing lenders’ compliance with the Military Lending Act ("MLA") as part of its examinations. The MLA protects military service members from financial exploitation against predatory lenders. The AGs disagreed with reports indicating that the CFPB has determined it needs more statutory authority to conduct examinations for MLA violations.

The New York Department of Financial Services ("NYDFS") authorized Coinbase, a digital currency exchange, to operate as a limited purpose trust company in New York. NYDFS also approved Coinbase Trust to offer secure custody services for Bitcoin, Bitcoin Cash, Ethereum, Ether Classic, XRP and Litecoin.

FINRA proposed the adoption of a conflict of interest rule for former FINRA employees. Rule 9910 ("Post-Employment Conflict of Interests Restrictions; Nonpublic Information") would prohibit: any former FINRA officer from making certain communications to, or appearances before, FINRA for one year after the termination of his or her employment; any former FINRA employee from making certain communications to, or appearances before, FINRA at any time in a matter that involves a specific party with which the employee was "personally and substantially involved" during his or her employment; any

SEC Commissioner Kara Stein advocated for a broader range of standardized disclosure requirements, including as to environmental, social and governance ("ESG") information disclosure. In a speech at the Council of Institutional Investors 2018 Fall Conference, Ms. Stein criticized the argument against ESG information disclosures that investors are already "overload[ed]" with information from public company disclosures. Ms. Stein stated that, in her five years at the SEC, she had "not heard this concern expressed by even one investor." Referencing a recent ESG information disclosure petition, Ms

The DOL proposed a new regulation to allow small businesses to join together to sponsor 401k plans for their employees. The proposed regulation would permit small businesses to offer retirement savings benefits under an Association Retirement Plan (known as "multiple employer plans"), which would provide retirement benefit packages similar to those offered by large employers. The DOL stated that, if adopted, it expects the plans will (i) reduce administrative costs and (ii) strengthen the position of small businesses in negotiations with financial institutions and other service providers