FHFA chief orders Fannie and Freddie to consider crypto assets in mortgage assessments
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
FinCEN bars three Mexican financial institutions for aiding cartels in fentanyl trade
Three Mexican financial institutions will be barred from transacting with U.S.-based banks after a U.S. Treasury agency determined that the institutions allowed their networks to aid the illegal fentanyl trade of Mexican criminal organizations.
Federal Reserve Board drops reputational risk from exams, aligning with OCC and FDIC shift
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
Judge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
Senate confirms Olivia Trusty to FCC, handing Trump majority control
The U.S. Senate confirmed Olivia Trusty as commissioner for the Federal Communications Commission on Tuesday, marking a shift in agency staffing that gave commissioners nominated by President Donald Trump a majority of decision-making power. The move followed resignations of two commissioners earlier this month, each of whom had been nominated ...
Venture capital firm self-reports sanctions violations of M&A target to DOJ, receives declination
After self-reporting that a recently purchased subsidiary broke U.S. sanctions and export control laws, a Texas-based venture capital fund will receive no penalty from the U.S. Department of Justice.
DOJ wants less monitoring, more self-disclosure and fine reductions, Galeotti says
The Criminal Division of the Department of Justice, continuing its aggressive, pro-business stance, has revamped key, white-collar crime enforcement policies, including clarifying fine reductions in its self-disclosure program and curbing its use of monitorships.
Bribery risk elevated, experts say, as DOJ narrows FCPA enforcement
When the U.S. Department of Justice announced a six-month enforcement pause of the Foreign Corrupt Practices Act (FCPA) in February, many speculated that the risks posed by bribery had been lowered. So when the DOJ said last week that it would resume launching FCPA investigations, it may just seem like ...
OFAC hits GVA Capital with $216M penalty for servicing sanctioned Russian oligarch
A San Francisco venture capital firm will pay a $216 million fine to the U.S. Treasury for violating U.S. sanctions by managing investments for a Russian oligarch.
After a six-month enforcement pause, DOJ will again pursue FPCA investigations
The Department of Justice has ended its six-month FCPA enforcement pause, closed half its legacy bribery cases, and will now pursue foreign bribery probes aligned with President Donald Trump’s priorities.
DOJ charges crypto executive with laundering $530M for sanctioned Russian banks
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
FCA enforcement rising across sectors, experts at the Women in Compliance Summit say
Federal agencies, including the Department of Justice (DOJ) and Customs and Border Protection, are expected to significantly alter the enforcement scope of the False Claims Act to reflect the enforcement priorities of the Trump Administration, experts speaking at Compliance Week’s Women in Compliance Summit in Austin, Texas.
Three TPRM myths worth busting
There are stories we tell ourselves in third-party risk management (TPRM) to make ourselves feel better about the corners we cut.
Colgate-Palmolive CECO Kim Faulkner discusses how ethics is embedded in the company’s strategy
Compliance Week’s Aaron Nicodemus sat down with Kim Faulkner, Chief Ethics & Compliance Officer at Colgate-Palmolive, to discuss the importance of ethics and compliance at the company.
SEC Chair Atkins signals end to ‘regulation by enforcement’ in line with Trump’s pro-crypto agenda
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
Google’s $500M compliance overhaul may fall short, amid antitrust fallout
Google parent Alphabet has struck a new agreement with shareholders, settling a shareholder lawsuit with a promise to ”completely revamp and rebuild its global compliance structure,” according to a new legal filing. The investment may not go far enough to reform Alphabet’s compliance failings, which are particularly under scrutiny following ...
TPRM has become the business continuity plan in turbulent times
Global supply chains are constantly in flux: crucial vendors could suddenly go bankrupt, fail to produce key components without warning, or even lose your firm’s data in a breach. The result has drawn ever more attention to third-party risk management as a critical element of many businesses.
Apple, Google face compliance crossroads as states push digital safeguards
A new law in Texas will go into effect next January that requires Apple and Google to verify the age of their app store users. This marks another piece of legislation from the state level intended to protect children, and the second such law specifically from Texas to limit children’s ...
SEC drops Binance lawsuit as Trump admin continues reshaping crypto enforcement
The Securities and Exchange Commission dropped its case against cryptocurrency exchange Binance, just the latest in a string of dismissals that highlight the SEC’s change of course under the crypto-friendly Trump administration.
COSO’s draft corporate governance framework provides roadmap to compliant business practices
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
Compliance Week’s Inside the Mind of the CCO reveals stubborn gender pay gap
Despite years of attention, male compliance professionals remain more highly compensated than women, according to the sixth annual Compliance Week Inside the Mind of the CCO survey.
Under intense reg scrutiny, compliance teams report implementing off-channel comms policies
Three of four respondents to Compliance Week’s Inside the Mind of the CCO survey said their employers have policies and procedures in place that govern employee use of unauthorized communications on their cell phones.
For the first time, a majority of compliance teams using AI: Inside the Mind of the CCO
For the first time, more compliance teams than not used artificial intelligence (AI) to assist them in their work, according to Compliance Week’s 2024 “Inside the Mind of the CCO” survey.
DOJ says BlackRock, Vanguard, State Street pressed ESG goals to lower U.S. coal output
The Department of Justice and Federal Trade Commission have bolstered a conservative legal effort to dismantle environmental, social, and governance-based investment strategies from three large asset managers by claiming they illegally conspired to artificially raise energy prices.
Consumer electronic supply chain at risk, FCC says in proposing new rules
Thousands of computers and other consumer electronic devices imported into the U.S. that were certified as safe by foreign laboratories have been identified as having links to the Chinese government or military, Brendan Carr, chair of the Federal Communications Commission, said Thursday in announcing an order to close the security ...
CPSC firings spark legal fight as Trump continues ousting independent officials
Three former commissioners of the Consumer Product Safety Commission who were fired by President Donald Trump earlier this month have filed a lawsuit against the government over their dismissal. The move joins many more court battles over Trump’s sudden slashing of government agencies, which some courts have deemed illegal, blocking ...
Unicoin defrauded investors through future crypto token scam, SEC alleges
The Securities and Exchange Commission has charged cryptocurrency company Unicoin, three top executives, and its general counsel with defrauding investors of $110 million by selling them bogus “rights certificates” in a future cryptocurrency coin.
FTC orders GoDaddy to upgrade cybersecurity defenses following three breaches
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
Not just for the rich: SEC may make closed-end funds available to retail investors
Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
Atkins: SEC has too many vacancies following job losses under Trump
The Securities and Exchange Commission has too many vacancies following efforts by the Trump Administration to reduce the overall size of the federal government, SEC Chair Paul Atkins told Congress Tuesday.
FTC shuts down student loan firms over deceptive debt relief practices
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
DOJ shutters FBI unit that investigated Trump and 2020 election interference
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.
Trump administration launches pressure campaign against EU Digital Services Act
The Trump administration is preparing to ask the European Union to alter or water down its rules on content moderation on social media, claiming that they hurt the competitiveness of American technology companies.
States like New York, Pennsylvania stepping up to fill regulatory void left by federal agencies
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
CFPB pulls data broker rule in win for industry, setback for consumer advocates
The Consumer Financial Protection Bureau has pulled back a draft privacy rule that would have required businesses to take more steps before selling consumers’ financial and personal data.
With “stroke of a pen,” CFPB withdraws controversial guidance docs issued under Dems
The Consumer Financial Protection Bureau has rescinded 39 guidance documents that had provided insight into the regulator’s thinking on a host of topics, including enforcement practices and how companies should handle customer complaints.
New DOJ policy means heat is off corporate crime and on drug kingpins
The Department of Justice is moving the enforcement of all but the most heinous white-collar crimes onto the back burner and putting investigations of drug kingpins, illegal immigration, and sanctions evasions up front, Matthew Galeotti, head of the DOJ’s Criminal Division, said Monday.
FTC pushes back timeline for ‘Click to Cancel’ Rule, raising compliance questions
The Federal Trade Commission was set to begin enforcement of the “click to cancel” rule on May 14, but a new announcement from the agency pushed that date to July 14. As is the case with many of the regulatory decisions by the Trump administration, it’s unclear whether the agency ...
Trump EO seeks to undo federal consent orders against businesses over lending, hiring bias
Businesses under consent decrees for violating federal anti-discrimination laws, including fairness in lending and hiring laws, may be off the hook under a sweeping executive order (EO) issued by President Donald Trump last month. The EO, aimed at furthering his agenda of dismantling protections against discrimination, says all agencies “shall ...
CFPB drops Google Payment oversight, latest enforcement pullback under Trump
The Consumer Financial Protection Bureau continued advancing President Donald Trump’s pullback of corporate oversight last week, as it halted supervision of Alphabet’s Google Payment subsidiary. The move followed similar efforts by the Trump administration to weaken government enforcement efforts, particularly concerning digital currencies.
SEC wants to resolve long-running case against crypto firm Ripple Labs for $50M
The Securities and Exchange Commission has offered to settle its long-running lawsuit against cryptocurrency firm Ripple Labs for $50 million, the latest in a series of pullbacks by the agency on ongoing crypto lawsuits.
SEC drops Morgan Stanley cash sweep case: Sign of the times?
A decision by the Securities and Exchange Commission to close an investigation into the cash sweep program at Morgan Stanley may affect decision-making at other financial institutions under similar scrutiny.
FTC rule forces fee transparency in ticketing and lodging industries
Ticketing and short-term lodging businesses will be prohibited from hiding “convenience” and other fees from consumers under a rule by the Federal Trade Commission (FTC), set to take effect next week.
Despite supporting Trump, Big Tech antitrust lawsuits gain steam
In a world where it seems like it’s Donald Trump against the rest of the world, antitrust lawsuits against tech titans may be the only area where regulators around the world agree: it’s time to break up Big Tech.
Buy now, pay later firms catch a break as CFPB backs off enforcement
The U.S. Consumer Financial Protection Bureau (CFPB) signaled a softer regulatory approach last month, easing its investigation of financial firms following the U.S. government’s broader efforts under President Donald Trump to scale back regulatory enforcement on businesses. The agency reaffirmed this pivot as it will ease scrutiny of “Buy Now, ...
FinCEN proposes bar on Cambodian company due to alleged money laundering
A Cambodian financial company, the Huione Group, has laundered billions of dollars for international criminals and those linked to North Korea, according to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The agency proposes that the company should be severed from having access to the U.S. financial ...
UBS to pay $511 million fine over Credit Suisse tax case, exposing compliance gaps
A significant settlement in a U.S. tax fraud case against Credit Suisse contains numerous compliance lessons related to beneficial ownership and due diligence in mergers and acquisitions.
Not satisfied with gutting federal laws, Trump turns towards states
In support of President Donald Trump’s deregulation agenda, U.S. Department of Justice sued four states in its ongoing attempt to derail state efforts to force energy companies to pay for damage they caused to the environment.
In continuing re-evaluation of FCPA cases, DOJ ends Albemarle FCPA reporting
The Department of Justice has ended another FCPA-related compliance action more than a year early. This scaling back of regulatory enforcement by the federal government has been a growing trend since the start of the Trump administration.
When starting on data analysis projects, start small and find allies
Compliance has long been reluctant to tap the power of its organization’s data. Some of that hesitancy is institutional, either through inertia or outright hostility. Data is often kept in siloes, overseen by different administrators, stored in different systems.