Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
Regulatory Enforcement
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Risky Business: Navigating Compliant Innovation Amid Deregulation
The compliance landscape has entered unprecedented territory, characterized by what industry experts describe as “deregulation on top of deregulation” – a dangerous departure from the traditional regulatory cycle that historically provided stability and clear guidance.
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JPMorgan Chase pays $330M to settle Malaysian fund allegations
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says.
An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former Goldman Sachs managing director Roger Ng, and Tim Leissner, former chairman of Southeast Asia for Goldman Sachs.
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OCC says Anchorage Digital has fulfilled its AML compliance obligations
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
Posted inRegulatory Enforcement
Using falsified documents, two California executives defrauded investors and lenders of $248M, DOJ says
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
Posted inRegulatory Enforcement
FTC complaint accuses LA Fitness parent companies of blocking easy membership exits
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
Posted inRegulatory Enforcement
CVS ordered to pay nearly $290M for excessive billing against Medicare
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
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Navigating Evolving Regulations: Key Insights for Compliance Leaders
This webinar tackles the current legal landscape head-on, giving compliance officers a practical lens on the latest developments impacting your oversight responsibilities.
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SEC charges duo in $275 million water vending machine Ponzi scheme
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
Posted inRegulatory Enforcement
DOJ indicts two more in connection with long-running PEMEX bribery scandal
The Department of Justice says two Mexican businessmen living in Texas allegedly bribed Mexican officials to secure $2.5 million in contracts with Petróleos Mexicanos, Mexico’s state-owned oil company, and a subsidiary.
