In a landmark trial case, a federal judge ruled that Google violated antitrust law when it spent billions of dollars to have its search engine dominate the industry. The decision, issued after a 10-week bench trial, represents a significant victory for the effort to challenge the dominance of a few Read More
The social media giant, Meta, agreed to settle a lawsuit accusing the company of illegally capturing biometric data from its users without their consent. Meta will pay a historic amount of $1.4 billion over the course of the next five years. Texas Attorney General Ken Paxton and McKool Smith, which Read More
The Federal Reserve Board took action to address consumer compliance breakdowns by Green Dot, fining the firm $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program. Green Dot violated consumer law in its marketing, selling, and servicing of prepaid debit card products, and Read More
The Federal Trade Commission issued orders to eight companies offering surveillance pricing products and services that incorporate data about consumers’ characteristics and behavior. The orders seek information about the potential impact these practices have on privacy, competition, and consumer protection. The orders are aimed at helping the FTC better understand the dense Read More
In its financial filing, RTX Corp announced that it is setting aside $1.2 billion in order to satisfy expected deferred prosecution agreements with the Department of Justice and Securities Exchange commission. These anticipated agreements arise from allegations that the aerospace and defense company made numerous improper payments tied to contracts Read More
The Securities and Exchange Commission’s Division of Enforcement launched the Interagency Securities Council (ISC), which will enable federal, state, and local regulatory and law enforcement professionals to meet quarterly to discuss the latest in scams, trends, frauds, and mitigation strategies. The ISC’s objective is to strengthen the cohesion between federal, Read More
After having nearly all of its customers’ records breached, AT&T is facing a class action lawsuit alleging that the cellular company failed to implement adequate cybersecurity procedures and protocols. The class action is taking place in Texas, Montana and New Jersey federal courts. The lawsuit arises out of an incident Read More
A Virginia federal court permitted a lawsuit against SiriusXM for alleged unpaid royalties to proceed in New York federal court. The lawsuit was filed by SoundExchange, the top digital royalty collection and distribution agency for the music industry to recover nearly $150 million in unpaid royalties. In its lawsuit, SoundExchange Read More
The Office of the Comptroller of the Currency and the Federal Reserve fined Citigroup and its subsidiary, Citibank, $136 million for violating the risk management remediation benchmarks set by a 2020 enforcement action. The OCC fined Citibank $75 million and the Fed fined the bank $61 million. The penalties resulted Read More
The Financial Industry Regulatory Authority announced that it has fined UBS Financial Securities $850,000 for the brokerage’s failure to monitor the transfer of customer funds to third parties and respond appropriately to any red flags indicating potential private securities transactions. The penalty stems from UBS’s failure to detect that one Read More
