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Stephen Steinlight has nearly two decades of experience as a trial and appellate litigator in federal and state courts and arbitrations in an expansive range of complex business, commercial, corporate, real estate, banking, financial services, consumer finance, securities industry/broker-dealer, white-collar/regulatory, ERISA, and labor and employment matters.

Last March we reported that, in response to the COVID-19 pandemic, the Financial Industry Regulatory Authority Inc. (FINRA) administratively postponed in-person arbitration and mediation proceedings, and held such proceedings remotely via telephone or Zoom.

However, given recent developments in the country’s reopening from the pandemic, FINRA announced that it will re-open 62 of its

In Jefferies LLC v Gegenheimer, the Second Circuit reminded prospective FINRA arbitration litigants of the high burden in court to vacate an unsatisfactory arbitration award issued by a panel of arbitrators.

In this matter, the petitioner was a FINRA-member investment bank and respondent was an individually licensed investment banker. The dispute arose out of

2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions and stay ahead of the compliance curve.

In this report, we share developments in 2020 on consumer class actions, background screening, bankruptcy,

In a putative class action, Santoro v. State Farm Mutual Automobile Insurance Co., 2020 WL 6586630, 19-CV-9782 (CS) (S.D.N.Y. Nov. 9, 2020), District Court Judge Cathy Seibel dismissed the plaintiff’s complaint under Rule 12(b)(6) for failure to state a violation of New York General Business Law (“GBL”) § 399-zzz, which is enforceable through GBL

New York Attorney General Letitia James and Governor Andrew Cuomo announced on November 4, 2020, that the State will continue the suspension of its debt collection efforts of medical and student debt through the remainder of the calendar year. The suspension, which was originally instituted during March 2020 as part of the state’s response to

On July 28, 2020, Troutman Pepper attorneys, Maryia Jones (Virginia Beach office) and Stephen J. Steinlight (New York – East Side office) will serve again on the faculty for their webinar series by Lorman Educational Services entitled, “Collection Disputes: A Good Defense Is the Best Offense.

The credit and collection industry remain under

New York’s legislature granted final approval last Thursday to Gov. Andrew Cuomo’s proposed 2021 Executive Budget, ending a months-long policy battle to focus instead on the ongoing war with the coronavirus (“COVID-19”). The approved budget, however, is substantially different than the one originally proffered by Gov. Cuomo on January 21, 2020. As New

On April 3, New York Gov. Andrew M. Cuomo signed the State’s 2021 Executive Budget into law, which includes a provision shortening the time period for a lawsuit to be filed on medical debt to three years. Although budgetary constraints caused by the coronavirus (“COVID-19”) pandemic have forced the State to scrap

An investor alert this week from the Financial Industry Regulatory Authority, Inc. begins with the ominous warning, from “regulators, law enforcement agencies, and consumer organizations around the globe, the message is clear: fraudulent schemes related to the coronavirus (‘COVID-19’) pandemic have arrived.”

A recent investor alert from the Securities and Exchange Commission’s Office of Investor

As the coronavirus (“COVID-19”) epidemic and its impact on the United States market continues to evolve, the Financial Industry Regulatory Authority, Inc. is granting “temporary” relief to broker-dealers and registered securities firms in its issuance of Regulatory Notice 20-08, reminding FINRA-member firms of their business continuity planning duties and obligations during the pandemic. Specifically,