News

Minimum Standard Nonforfeiture Rate – Green Light, Red Light

By EsqSocial Corporation 12/05/21

In December 2020, by amending the Standard Nonforfeiture Law for Individual Deferred Annuities (Model 805), the NAIC gave the green light to lower the minimum standard nonforfeiture rate to 0.15% in response to the persistent low interest rate environment....

Time’s Up!: The Court Rejects the Government’s Request for a Longer Limitations Period Applicable to Fraud Counterclaims

By EsqSocial Corporation 12/05/21

The government has six years to obtain a court’s determination on fraud counterclaims, and the clock begins to run when the alleged fraud occurs.

Michigan Plans to Return to Work Across All Sectors

By EsqSocial Corporation 12/05/21

On May 10, 2021, Michigan Governor Gretchen Whitmer announced that 55% of Michiganders had received the first dose of available COVID-19 vaccines, hitting the first milestone of the MI Vacc to Normal Plan....
By: Littler

FDIC fines bank $1.8 million for UDAP violations in collecting commercial debt

By EsqSocial Corporation 12/05/21

The FDIC’s settlement with Umpqua Bank announced yesterday is notable because the bank’s collection practices found to be unfair and deceptive involved commercial equipment financing offered by the bank’s wholly-owned subsidiary.  The stipulated Order to Pay Civil Money Penalty requires the bank

DORA – Enhancing digital resilience for the financial sector and its ICT service providers is more important than ever

By EsqSocial Corporation 12/05/21

The future of finance is digital. The increased reliance on technology in finance heightens the vulnerability of ICT systems and worsens the impact of a potential cyberattack.

Midstream, Downstream, Import/Export Permit-Holders Under Commercial Siege by Mexico’s Government

By EsqSocial Corporation 12/05/21

On May 5, 2021, regardless of the clear warnings and recommendations by Mexico´s Antitrust Commission, amendments to the Hydrocarbons Law were published in the Federation’s Official Gazette.

Illinois Amends Employee Sick Leave Act, Expanding Coverage to Include “Personal Care” for Covered Family Members

By EsqSocial Corporation 12/05/21

Illinois Governor J.B. Pritzker recently signed into law an amendment to the Illinois Employee Sick Leave Act (ESLA), permitting employees to take leave for a covered family member’s “personal care.”...

DOL Withdraws Independent Contractor Rule

By EsqSocial Corporation 12/05/21

As we previously discussed, in early January 2021, the U.S. Department of Labor issued a Final Rule regarding independent contractor status under the Fair Labor Standards Act.

License Renewal Application Reminder for Radio Stations in Arizona, Idaho, New Mexico, Nevada, Utah, and Wyoming and Television Stations in Michigan and Ohio

By EsqSocial Corporation 12/05/21

June 1, 2021 is the license renewal application filing deadline for commercial and noncommercial radio and TV broadcast stations licensed to communities in the following states: Full Power AM and FM, Low Power FM, and FM Translator Stations: Arizona, Idaho, New Mexico, Nevada, Utah, and Wyomin

Stormwater Enforcement: Mississippi Commission on Environmental Quality and Gulfport Vacant Land Project Operator Enter into Agreed Order

By EsqSocial Corporation 12/05/21

The Mississippi Commission on Environmental Quality (“MCEQ”) and Gene Stock Construction (“GSC”) are stated to have entered into an April 6th Agreed Order (“AO”) relating to a failure to obtain a permit for discharge of waste into the water of the state. See Order No. 7106 21.

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