On January 5, Governor Kathy Hochul announced the following climate-related goals as part of her State of the State address: Reaching 1 million electrified homes by 2030 Reaching 1 million electrification-ready homes by 2030 Requiring all new building construction to have zero… Read More ›
Regulation
Regulatory efforts, Government programs and more.
Concluded Legal Action against LendUp Loans, LLC, Provides Guidance for Other Lending Startups
Relevant to NYC’s lending startups, on December 21, the Consumer Financial Protection Bureau (CFPB) announced an agreement with LendUp Loans, LLC (LendUp) under which the company would cease making any new loans and collecting on certain outstanding loans among other restrictions and… Read More ›
NYC Legislation Mandates Climate Adaptation Planning by September 30, 2022
On October 7, 2021, the New York City Council passed legislation sponsored by Justin Brannan and forty other council members requiring the development of a citywide climate adaptation plan by September 30, 2022, and its renewal every ten years. While… Read More ›
New York Fed’s new Innovation Center will Develop Fintech Products and Services for Central Banking
On November 29, the Federal Reserve Bank of New York announced and launched its New York Innovation Center (NYIC) to be headed by Per von Zelowitz, for the purpose of developing financial technology products and services for the central bank… Read More ›
NYC Bans Use of Natural Gas in New Buildings to Begin in 2024
Led by Alicka Ampry-Samuel, 29 New York City Council Members sponsored a bill that passed on December 15, to prohibit the use of gas-powered heaters, stoves and water boilers in new buildings in an effort to reduce carbon emissions. As… Read More ›
NYC Requires Bias Audits, Other Measures to Prevent Unjust Hiring Based on Artificial Intelligence
Scheduled to go into effect in January 2023, the New York City Council recently passed legislation that seeks to prevent unjust hiring and promotion practices arising from automated decision tools widely used by employers, such as artificial intelligence. The legislation also includes… Read More ›
Increased Government Scrutiny of Large Tech Companies Increases at Both Federal and State Levels and Internationally
The anti-trust action brought by the U.S. Department of Justice during October of last year was not the first time federal regulators considered taking action against Google. Newly revealed documents from a 2011-2013 Federal Trade Investigation revealed by Politico also… Read More ›
New Legislative Appointments Affecting Tech & NYC Small Business Relief in 1st Quarter 2021
SMALL BUSINESS RELIEF In what would be a major overhaul to the over 180 laws affecting NYC small businesses, the New York City Council announced a hearing held by the Small Business Committee on March 1, on two bills that would “provide… Read More ›
A New Model of Worker Classification Emerges from California’s Proposition 22 as the Direction of the Gig Economy is Fought Over Intensely
On election day, ballot measure Proposition 22, backed by App-based driver and delivery companies Ubder, Lyft, DoorDash, Instacart and Postmates passed in California, creating an exemption from labor legislation passed last year that required them to classify drivers as employees… Read More ›
Google Calls DOJ Antitrust Action ‘Deeply Flawed’
In a blog post by SVP of Global Affairs Kent Walker, Google responded on Tuesday to the arguments found in the antitrust action brought against it by the U.S. Department of Justice the same day, asserting that consumers are not forced to… Read More ›