16 Feb
Member News

Trepp | HUD Multifamily/Healthcare Lending Volume in Fiscal 1Q Drops 38 Percent from Last Year

The U.S. Department of Housing and Urban Development (HUD) funded 154 loans with a balance of $2.52 billion against multifamily and healthcare properties during the first quarter of its latest fiscal year. That's a 38% drop in production from the same period a year earlier when the agency funded 249 loans with a balance of $4.09 billion. Lending Volumes Decline The decline in production isn't a surprise, given that commercial property lending overall has continued to remain lackluster as a result...

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15 Feb
Member News

Wilson Sonsini | FCC Rules AI-Generated Voices Are “Artificial” Under the TCPA

The Federal Communications Commission (FCC) recently declared that AI-generated voices do fall within the meaning of “artificial” under the Telephone Consumer Protection Act (TCPA) in a ruling issued on February 8, 2024.1 The ruling follows a recent surge in robocalling and robotexting using AI technologies that simulate a human voice or that generate call content using a prerecorded voice, resulting in a significant number of complaints from consumers and attorneys general. Going forward, businesses and callers who use AI-generated...

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15 Feb
Chapter News

European Parliament | Greenwashing: How EU Firms Can Validate Their Green Claims

The Internal Market and Environment committees adopted on Wednesday their position on the rules on how firms can validate their environmental marketing claims. The so-called green claims directive complements the already-approved EU ban on greenwashing. It defines what kind of information companies have to provide to justify their environmental marketing claims in the future. It also creates a framework and deadlines for checking evidence and approving claims, and specifies what happens to companies who break the law. Verification system and penalties MEPs...

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15 Feb
Member News

Noerr | Final Text of the European AI Act – What Companies and Public Institutions that Want to Use AI Systems Need to Be Prepared for

On 21 January 2024, the final text of the EU Regulation laying down harmonised rules on artificial intelligence (“AI Act”) was made public through unofficial channels but has yet to be formally adopted in the legislative process. Not surprisingly, the almost 900-page working paper still contains numerous substantive changes, many of which primarily affect AI system providers. For most companies, however, the much more interesting question is: What obligations do they face if they want to use third-party AI systems? The European AI Regulation...

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15 Feb
Member News

AlixPartners | Reality Check: A Look Back at Last Year’s Container Shipping Report

A regular feature of AlixPartners’ Annual Container Shipping Report is a section detailing trends to watch in the coming year. Each year, when we prepare our latest report, we review our selection from the prior cycle to learn how well our forecasts held up against real-world events. In last year’s report, we named five trends to watch in 2023 and suggested how they might develop during the year. Read on to learn how they played out. Trade flows in flux We noted...

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15 Feb
Member News, New York Related News

Ogletree Deakins | Reminder for New York State Employers: Salary Basis Thresholds Increased for 2024

New York recently raised the minimum salary basis thresholds for executive and administrative employees in order to satisfy the exemption from overtime, not to be confused with the separate upcoming increases to salary threshold for the purposes of pay frequency. Salary Thresholds for Overtime Exemptions On December 27, 2023, the New York State Department of Labor (NYDOL) published a notice of adoption in the New York State Register increasing the minimum salary thresholds for exempt executive and administrative employees to $1,200 per week (approximately $62,400...

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14 Feb
Member News

Greenberg Traurig | Emerging Technology Views

Emerging Technology Views provides entrepreneurs and early stage companies a forum to keep abreast of technology news, trends and strategies to help their business succeed. We cover a variety of topics from business formation to seeking investment, IP protection to labor and employment issues, hot spots of innovation to event highlights and anything in between. 5 Trends to Watch: 2024 Emerging Technology Increased Adoption of Generative AI and Push to Minimize Algorithmic Biases – Generative AI took center stage in 2023...

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14 Feb
Chapter News

Speech ECB | Preserving people’s freedom to use a public means of payment: insights into the digital euro preparation phase

By Piero Cipollone, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament | Brussels, 14 February 2024 Thank you for the opportunity to speak before the Committee today. As I emphasised during my confirmation hearing, I am committed to actively pursuing the dialogue with the European Parliament on a digital euro. This year marks the 25th anniversary of the euro and our monetary union. It is up to us to...

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12 Feb
Chapter News

ECB | Eurosystem Accepts a Fifth Rating Agency

Blog post by Diana Gomes and Anamaria Piloiu | The Eurosystem has accepted Scope as a new rating agency alongside Fitch, Moody's, S&P and DBRS. This has a number of implications, including a wider range of credit opinions and expertise being considered for monetary policy purposes. Credit rating agencies are private companies which assess the creditworthiness of issuers of financial instruments – be they governments, commercial banks or corporates. Many investors in the financial markets rely on rating agencies because...

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12 Feb
Member News

Littler Mendelson | Data Privacy and AI: What Should UK and EU Employers Look out for in 2024?

As we look ahead to 2024, it is clear that both data protection and AI will continue to take center stage in the UK, as it will in many other countries. In this article we look ahead to the developments that are expected to impact UK employers in the coming year. EU Regulation of AI – the hotly anticipated EU AI Act has been hailed as “the world’s first comprehensive AI law.” The most recent development was in early December 2023,...

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