The release of thousands of emails written by Jeffrey Epstein has sparked a political storm. One Democratic Senator is ramping up pressure for the U.S. Treasury to also disclose the deceased financier’s bank records.
Oscar Gonzalez
Oscar Gonzalez is a freelance writer and editor who covers tech, misinformation, business, and the stock market. He's written for Gizmodo, CNET, TheStreet, CBS, and NBC.
Email: oscar.gonzalez@complianceweek.com
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Posted inEthics & Culture
Compliance concerns surface at Fannie Mae following internal probe
A probe into Fannie Mae uncovered compliance and governance concerns involving FHFA director Bill Pulte and other senior officials. The result, so far at least, was not to address the concerns uncovered but to fire staff in Fannie Mae’s ethics and internal investigations unit.
Posted inFinancial Services
CFPB proposed changes that would limiting disparate-impact claims
The U.S. Consumer Financial Protection Bureau (CFPB) proposed a rule change that would narrow anti-discrimination requirements for the financial industry. This comes as the Trump administration attempts to shutter the agency may finally come to pass.
Posted inFinancial Services
FinCEN flags $9 billion in Iranian shadow-banking activity, citing SARs filings from U.S. banks
Approximately $9 billion of potential shadow-banking flows tied to Iranian networks in 2024, according to a new analysis from FinCEN. The report highlights how illicit funds are making their way through financial institutions as they meet the requirements of the Bank Secrecy Act (BSA).
Posted inTechnology
CFPB ends probe into Meta’s financial advertising practices
Meta says it is no longer under investigation by the U.S. Consumer Financial Protection Bureau (CFPB), the latest instance of the agency scaling back enforcement under President Donald Trump.
Posted inRegulatory Enforcement
Texas sues Johnson & Johnson, Kenvue over alleged misleading marketing of Tylenol
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
Posted inFinancial Services
CFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
Posted inAML
FINTRAC hits British Columbia crypto firm with record $125M penalty for AML failures
Canada’s financial intelligence agency has issued its largest-ever penalties against a cryptocurrency exchange, a fine of $126 million (CA$176.9 million). The agency said the exchange’s compliance failures represented a “severe breach of Canada’s anti–money laundering framework.”
Posted inAML
Binance’s Changpeng Zhao receives presidential pardon from Trump
The founder of crypto exchange Binance, Changpeng Zhao, received a pardon from President Donald Trump. This pardon comes almost two years after Zhao signed a plea agreement and was sentenced to a four-month prison sentence.
Posted inAML
Canada to launch new federal office targeting financial crime and fraud
Canada is creating a new federal office to lead efforts against financial crime. The initiative marks the government’s most significant move yet to modernize its approach to fraud and money laundering.