T he U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has announced that it is working on significant reforms of the country’s anti–money laundering (AML) framework. Rather than a single sweeping overhaul, the current reform effort consists of a series of interrelated rulemakings, delays, and targeted expansions that Read More
T he Securities and Exchange Commission’s director of the Enforcement Division, Margaret Ryan, stepped down this week after only a little more than half a year on the job. Sam Waldon, who served as head of enforcement before Ryan, will return to the role as acting director. During her time Read More
W almart has agreed to a $100 million judgment to settle allegations by the Federal Trade Commission and 11 states that the company caused delivery drivers to lose earnings, by deceiving them about the base pay, incentive pay, and tips they could earn. The FTC estimates that Walmart delivery drivers Read More
P axful, an online virtual currency trading platform, will pay a criminal penalty of $4 million after pleading guilty to violating the Bank Secrecy Act, promoting illegal prostitution, and knowingly transmitting funds derived from criminal offenses. From 2015 to 2019, Artur Schaback, the operator of Paxful, allowed customers to open Read More
T he U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an online voluntary self-disclosure (VSD) portal for disclosure of potential violations of U.S sanctions earlier this month. The VSD portal will replace the current system, where organizations voluntarily disclose potential violations over email. The VSD portal Read More
T he California Attorney General’s office has announced a settlement with the Walt Disney Co., resolving allegations that the company violated the California Consumer Privacy Act (CCPA) by failing to answer consumers’ requests to opt-out of the sale or sharing of their data across all devices and streaming services associated Read More
A Commodity Futures Trading Commission Commissioner, Kristin Johnson, announced that she plans on leaving the agency later this year, marking the third commissioner to depart from the CFTC. With Johnson’s departure, only one voting member will remain at the CFTC. This announcement comes weeks after Commissioners Summer Mersinger and Christy Read More
Securities and Exchange Commission Chair, Paul Atkins, announced that the SEC will review rules that effectively require public companies to disclose the compensation of chief executive officers along with other other top executives. According to an SEC press release, the agency will host a roundtable on June 26, 2025 to Read More
The Consumer Financial Protection Bureau announced that it has ended its oversight of Google Payment, which also led to Google’s voluntary dismissal of a lawsuit against the regulatory agency. According to the parties’ joint status report, the CFPB renounced an order that initially directed the agency to oversee Google’s payment Read More
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
