The New York Department of Financial Services (NYDFS) announced that Industrial and Commercial Bank of China (ICBC) has agreed to pay $32 million in penalties pursuant to a Consent Order entered into with the NYDFS. The Consent Order settles the Department’s investigation into numerous Bank Secrecy Act and Anti-Money Laundering Read More
German software company SAP will pay more than $220 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act (FCPA). The SEC found that SAP violated the FCPA by paying bribes to foreign officials in South Read More
The Federal Trade Commission (FTC) has prohibited data broker X-Mode Social and its successor Outlogic from sharing or selling sensitive location data as part of a settlement resulting from allegations that the company sold precise location data that could be used to track people’s visits to private locations. In its Read More
Walgreens has agreed to pay $360 million to insurance company Humana to settle a lawsuit claiming that the retail pharmacy chain overcharged for prescription drug reimbursements. In 2019, Humana brought a lawsuit against Walgreens arguing that the company had overcharged its customers by inflating medication prices for over ten years. Read More
Starting next week, the state of Ohio will require social media platforms to obtain parental consent before a child under the age of sixteen creates an account on their websites. However, an association by the name of NetChoice is now challenging this law on the belief that it violates the Read More
