In 2016, Revlon, Inc. entered into a syndicated term loan for which Citibank served as the administrative agent. On August 11, 2020, Citibank, intending to wire an interest payment in the amount of $7.8 million, mistakenly wired $900 million the majority of which was its own money. The amount wired was equal to the outstanding amount of the loan. Citibank […]
On December 9th the Institute for Justice (IJ) filed a lawsuit in the District of Columbia (DC) on behalf of a professional counselor based in and licensed by the Commonwealth of Virginia. The counselor wanted to conduct cross-border teletherapy sessions with patients located in DC, but was not licensed to do so, nor did she qualify for one of the […]
The U.S. Department of Labor’s Office of Apprenticeship has approved the ANSI National Accreditation Board (ANAB) as a Standards Recognition Entity (SRE) for Industry-Recognized Apprenticeship Programs (IRAPs). IRAPs establish paid apprenticeship opportunities in a variety of industries. They include a paid-work component and an educational component that result in an industry-recognized credential. Participants in an IRAP acquire workplace-relevant knowledge necessary […]
The Federal Trade Commission (“FTC”) announced a consent agreement with Zoom Video Communications, Inc. (“Zoom”) that requires the company to implement a comprehensive security program. The settlement is in response to the FTC allegations that Zoom: Made misleading claims about the level of encryption that gave users a false sense of security, especially for those who used the company’s platform to […]