Welcome back to our weekly roundup of regulatory and compliance news. I’m C. Ryan Barber, reporting from the 100-degree swamp that is D.C. Got tips or suggestions? Reach me at email@example.com or at 202-828-0315. DM me at @cryanbarber.
The Trump administration is touting the number of federal regulations that are on the chopping block, The New York Times reports. Agency officials have withdrawn or blocked hundreds of regulations. [The Washington Post]
A pair of whistleblowers are set to share a record $61 million bounty from the U.S. Securities and Exchange Commission for helping to show that JPMorgan Chase & Co. failed to disclose that it was directing wealthy clients into investments that would be most profitable for the bank. One of the whistleblowers will receive an award amounting to 18 percent of the SEC’s $307 million settlement with JPMorgan, while the other tipster will receive 5 percent. [Bloomberg]
EEOC chairwoman nominee Janet Dhillon's disclosed her ethics pledge and financial statement, the first step before she heads to Capitol Hill for her confirmation hearing. [The National Law Journal]
Harley Davidson saw its $15 million fine from the U.S. government trimmed by $3 million after the Justice Department halted the longstanding practice of compelling polluters to fund environmental or community projects. The $3 million would have gone toward a program to reduce pollution from wood-fired stoves. [New York Times]
EPA Administrator Scott Pruitt is saying ‘no’ to marijuana—more specifically requests to license pesticides for cannabis made under a provision that gives states power to approve weedkillers, insecticides, and fungi-controlling chemicals for local uses. [Bloomberg BNA]
Financial regulators appear to be pulling back on a plan to restrict Wall Street bonuses and other pay incentives. In the regulatory agenda recently released by the Trump administration, limits on those incentives were listed under “long-term action”—or in Washington-speak, left for dead. [Reuters]
The Federal Trade Commission’s looking at Amazon.com’s discounting practices. Consumer Watchdog brought a complaint to the agency alleging the online retail giant has duped customers about discounts. [Reuters]
The FCC’s set a record for the number of comments the agency’s ever received in any rulemaking process. What’s creating all the commotion? The agency’s move to roll back net neutrality regulations. [CNET]
Deutsche Bank’s long ties to now-President Donald Trump are coming into greater scrutiny as regulators move to assess the financial institution’s exposure. [The New York Times]
Uber Technologies Inc.’s newest lobbyist in Washington was a big-time fundraiser for Donald Trump. The ride-hailing company’s second-quarter federal lobbying report, filed on Thursday, showed $430,000 in expenses on issues that included portable benefits, consumer access and foreign regulation of data management. [Recode]
Exxon Mobil Corp.’s suing the U.S. Treasury Department over the agency’s $2 million finefor allegedly violating Russia sanctions. Three firms—Davis, Gerald & Cremer; Haynes and Boone; and Davis Polk & Wardwell, including partner Neil MacBride, a former top Obama administration U.S. attorney—represent Exxon in the lawsuit in Dallas federal district court. [NPR]
The Consumer Financial Protection Bureau’s set up a summer showdown over its move to restrict banks and other financial institutions from prohibiting class actions. Mayer Brown’s Andy Pincus, who’s argued in support of arbitration, could play a lead role in any lawsuit filed in the coming weeks. If Congress doesn’t first kill the rule. Meanwhile, CFPB Director Richard Cordray might soon be on his way out—there’s more speculation he’ll quit before his term expires next year to run for Ohio governor.
U.S. labor regulators are raising concerns about Google Inc.’s confidentiality agreementsand whether they stifle whistleblowers. “We have had employees during the course of the investigation express concerns about whether they are permitted by Google to talk to the government, because the company policy commits them to confidentiality,” Janet Herold, the DOL regional solicitor for San Francisco, said. [The Guardian]
The composite panels that U.K. authorities are investigating following the Grenfell Tower apartment fire might also be found in some U.S. buildings. A key takeaway from an Associated Press report: “Determining which buildings might be wrapped in the material in the United States is difficult. City inspectors and building owners might not even know. In some cases, building records have been long discarded and neither the owners, operators, contractors nor architects involved could or would confirm whether the cladding was used.” [Associated Press]
Technology companies are resisting state laws that regulate biometric privacy. Georgetown Law’s Alvaro Bedoya said regulators aren’t moving quickly enough to keep pace with the development of technology. [Bloomberg Businessweek]