January 25, 2021
Introduction
In December 2020, California Attorney General Xavier Becerra was announced to be President-Elect Joseph R. Biden, Jr.’s pick to lead the Department of Health and Human Services. The California Attorney General’s Office is the second largest Justice Department in the United States, second only to the U.S. Department of Justice, and California Attorney General Xavier Becerra was the first Latino Attorney General in California’s history. Before becoming the Attorney General of California, Becerra had a 24-year career in the U.S. House of Representatives.[1] In 2017, Governor Jerry Brown appointed Becerra to the last two years of Kamala Harris’s term as Attorney General, after she won election to the United States Senate. Now, Governor Gavin Newsom will appoint a successor to complete the remaining two years of Becerra’s term, assuming he is confirmed by the U.S. Senate.[2]
Financial Conduct Authority
FCA Proposes CMC fee price cap
The Financial Conduct Authority (FCA) has published proposals to introduce a price cap on the fees claims management companies (CMCs) charge their customers in relation to claims for financial products and services.
Some consumers currently pay fees of more than 40% of the redress they receive. The proposed cap restricts this, and will mean CMCs won’t be able to charge more than 15-30% depending on how much redress a consumer is due. This will see some consumers saving several thousand pounds on the fees they pay to CMCs.
The cap will apply to all claims where a consumer is awarded monetary redress, apart from PPI claims which are already subject to a cap set by Parliament.
<p><span>The Financial Conduct Authority (FCA) has published </span><a href="https://www.fca.org.uk/publications/consultation-papers/cp21-1-restricting-cmc-charges-financial-services-and-products-claims">proposals to introduce a price cap</a><span> on the fees claims management companies (CMCs) charge their customers in relation to claims for financial products and services.</span></p>
2021 Labor and Employment Spotlight: A List of Key Legal Updates for Employers, January 13, 2021, Nichole Atallah, Sara Nasseri, and Sarah Nash
Undeniably, 2020 was a year like no other. Faced with a global pandemic and a tumultuous election, employers were presented with a unique set of challenges and a myriad of new and at times, very vague laws and regulations. Despite the start of a new year and a new administration in just a week, much of 2020 still lingers on, including some of its novel policies. However, the new year and new administration also signal a shift in direction for labor and employment law, and employers should be prepared.
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