The United States House Financial Services Committee approved a bill proposed by the House Republicans to cut funding from the Consumer Financial Protection Bureau and to dissolve the Public Company Accounting Board into the Securities and Exchange Commission. The legislation received some backlash from Democrats along the way however, the Read More
A former Computacenter employee, James Papa, filed a lawsuit against his former company, Deutsche Bank, and his former supervisor for $25 million alleging he was terminated in retaliation for whistleblowing about a security breach, which was purportedly caused by a colleague’s girlfriend gaining unauthorized access to confidential client information. According Read More
The United States House Republicans released a draft of a bill that would place oversight authority of the digital assets markets in the hands of the Commodity Futures Trading Commission. This proposal would split up supervision of the crypto markets between the CFTC and the Securities and Exchange Commission. The Read More
In a decision released by a Washington D.C. Appeals Panel, the panel issued an order that effectively restored the temporary pause on mass employee firings at the Consumer Financial Protection Bureau. The order allows CFPB employees remain employed despite President Trump’s plan to remove almost 90 percent of the agency. Read More
President Trump and his administration filed a response to a lawsuit claiming that the President went beyond his presidential authority in firing two Federal Trade Commission members without cause. The foundation of President Trump’s response is that the President is allowed to remove “all those who aid the President in Read More
The European Union announced that it fined Apple and Meta €500 million ($568 million) and €200 million ($227 million), respectively after it found that Apple breached its anti-steering obligation under the Digital Markets Act (DMA), and that Meta breached the DMA obligation to give consumers the choice of a service Read More
The Federal Trade Commission filed a lawsuit against Uber, alleging the rideshare and delivery company charged consumers for its Uber One subscription service without their consent, failed to deliver promised savings, and made it difficult for users to cancel the service despite its “cancel anytime” promises. According to the FTC, Read More
The Senate confirmed Paul Atkins as chair and leader of the Securities Exchange Commission. This confirmation marks Atkins’ return to the SEC where he served as commissioner from 2002 to 2008. Atkins, confirmed by a 52–44 vote, is expected to ease regulatory enforcement and roll back compliance requirements for corporations. Read More
The Consumer Financial Protection Bureau has signaled its intention to reissue a proposed rule on small business lending data collection. This shift comes after the agency had previously defended the original rule against legal challenges while under the Biden administration. This rule—commonly referred to as Small Business Lending Under the Read More
Whole Foods announced that it has settled a class-action lawsuit claiming that company manipulated an employee bonus program which resulted in lower payouts to its employees. The settlement comes almost 10 years after the allegations were brought against the grocery chain giant. The original lawsuit alleged that multiple Whole Food Read More
