MD Securities Regulator

AG Brown Joins 23 AGs Urging CFPB to Abandon Staffing Reduction Plan

Maryland Attorney General Anthony G. Brown joined a coalition of 23 attorneys general in sending a letter to the Consumer Financial Protection Bureau urging it to abandon a proposed strategic plan that would dramatically reduce agency staffing. The CFPB's plan would reduce the Office of Supervision Policy and Operations from 72 staff to one person, undermining the agency's statutory obligation to supervise financial institutions and enforce consumer protections. The coalition raised concerns that workforce reductions would result in less consumer relief, citing that the CFPB has already abandoned billions of dollars in harm it previously sought to recover.

Attorney General Brown and Coalition of States Win Historic Trial Against Live Nation and Ticketmaster

A jury in Maryland found Live Nation and Ticketmaster liable for violating federal and state antitrust laws after a five-week trial. The jury determined that Ticketmaster unlawfully maintains a monopoly in the market for ticketing services at major concert venues, and that Live Nation unlawfully requires artists using its amphitheaters to also use its event promotion services. The coalition of 34 attorneys general successfully proved the defendants eliminated competition and overcharged fans for concert tickets. Remedies and financial penalties will be determined at a separate bench trial.

Attorney General Brown Files Amicus Brief Defending TPS for Somali Immigrants

Maryland Attorney General Anthony G. Brown joined a coalition of 16 attorneys general in filing an amicus brief in African Communities Together v. Noem opposing the Department of Homeland Security's termination of Somalia's Temporary Protected Status designation. The brief highlights the humanitarian and economic harm that would result from ending TPS protections for approximately 2,471 Somali nationals currently holding TPS and another 1,383 with pending applications, urging the court to postpone the revocation.

AG Brown Backs Coalition for Drug Pricing Transparency

Maryland Attorney General Anthony G. Brown joined a bipartisan coalition of 44 attorneys general in submitting a comment letter supporting a proposed U.S. Department of Labor rule requiring greater transparency from pharmacy benefit managers (PBMs) servicing employer-funded health plans under ERISA. The proposed rule would require PBMs to disclose revenue twice annually and grant employers audit rights. The coalition also seeks clarification that the rule does not preempt state PBM transparency laws and supports coordination between the Department and state AGs on enforcement.