The consequences for a scheduling and operational meltdown by Southwest Airlines during the 2022 holiday travel season, which stranded millions of travelers, continue to mount. In the latest development, The U.S. Transportation Department has ordered Southwest to pay a $140 million civil penalty, part of a broader consent order, after Read More
The California Civil Rights Department (CRD) announced it has reached a $54 million settlement agreement to resolve allegations that gaming company Activision Blizzard discriminated against women at the company. Headquartered in Santa Monica, California, Activision Blizzard is known for many popular video game franchises, including “Call of Duty,” “World of Read More
Oil Giant BP is clawing back $40 million in compensation from former CEO Bernard Looney, who resigned after misleading the board about past relationships with colleagues. Looney resigned as CEO in September after admitting to the board he had not been fully transparent about disclosing past relationships with colleagues when Read More
The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law. For at least four years, hundreds of Bank of America loan officers failed to ask mortgage applicants certain Read More
Verizon subsidiary TracFone Wireless has agreed to a settlement with the Federal Communications Commission to resolve charges that the telecom company violated the rules of a program intended to help low-income consumers purchase Internet access and phone services at a discount. TracFone has agreed to compliance measures and will pay Read More
The United Kingdom’s Financial Conduct Authority is rolling out a series of regulations intended to crack down on inaccurate environmental, social, and governance (ESG) related claims, known as greenwashing, by providers of investment products to retail investors. The FCA’s measures include putting in place new sustainability disclosure requirements and an Read More
Binance Holdings, which operates the world’s largest cryptocurrency exchange, Binance.com, has pleaded guilty and has agreed to pay over $4 billion to resolve the Justice Department’s investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Read More
A Los Angeles jury convicted two corporate executives on November 16 of conspiracy and failure to report information related to defective residential dehumidifiers that had been linked to multiple fires. Simon Chu, 68, of Chino Hills, California, and Charley Loh, 65, of Arcadia, California, were convicted of conspiracy to defraud Read More
The rapid advancement of artificial intelligence (AI) has ushered in an era of unprecedented technological transformation, promising to revolutionize industries, enhance human capabilities, and reshape the very fabric of society. As with any transformative force, though, AI also presents a range of challenges and ethical concerns that demand careful consideration Read More
GUEST BLOG POST The Securities and Exchange Commission closed out its fiscal year with an announcement of charges against 10 firms in their capacity as broker-dealers and one registered broker-dealer and investment adviser for their failure to comply with the Books and Records requirements of the Federal Securities Laws. These Read More
