SEC-LR-26169 (11-14-24) Money Magnet Platinum Membership Initiative LLC, et al. SEC Litigation Release No. 26169 / November 14, 2024 SEC Obtains Final Judgements Against Lakenya Hopkins Excerpt: The Securities and Exchange Commission announced that is has obtained final judgement against Lakenya Hopkins for her role in a promissory note selling scheme, falsely promising investors extraordinary […]
Month: November 2024
CFPB-PR-241113-2 (11-13-24) CFPB Survey Reveals Impacts of Student Loan Debt Relief and Repayment Challenges – Debt relief recipients report being able to make beneficial changes in their lives; many borrowers still unaware of repayment options Excerpt: WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) issued its first results from its Student Loan Borrower […]
(CFPB-PR-241113-1) (11-13-24) CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets – Lenders less likely to encourage Black entrepreneurs and more often steer them toward alternative financing Excerpt: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a study revealing significant disparities in how lenders treat Black and white small business owners seeking […]
( Agency Whistleblower Awards – Article ) ( Articles ) ( Agency Whistleblower Awards ) Agency Whistleblower Awards (AWA) Introduction AWA are monetary rewards provided by federal regulatory authorities to individuals who expose wrongdoing, fraud, or other illegal activities within organizations. These awards serve as an incentive for whistleblowers to come forward with critical information that […]
CFTC-PR-9006-24 (11-12-24) (CFTC-PR-2411) CFTC Awards $4M to Two Whistleblowers Excerpt: November 12, 2024 – WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced it is awarding nearly $4 million to two whistleblowers who provided information leading to the successful enforcement of a covered action. Information from both whistleblowers formed the basis for the CFTC’s investigations underlying the covered action. One whistleblower provided information earlier […]
( Data Privacy Laws – Article ) ( Articles ) ( Data Privacy Laws ) Data Privacy Laws (DPL) Introduction DPL in the United States govern how personal information is collected, used, and protected by organizations. As digital interactions increase, these laws are crucial for safeguarding individuals’ privacy rights and ensuring responsible handling of personal […]
( CFPB-PR-241112-1 ) (11-12-24) CFPB Report Details Carveouts for Financial Institutions in State Data Privacy Laws – Gaps in consumer protections pose risks as companies increasingly build business models to make money from personal financial data Excerpt: WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a report (PDF 23-pages) examining federal and state-level privacy […]
FTC-PR-241112-1 (11-12-24) FTC Action Stops H&R Block’s Unfair Downgrading Practices and Deceptive Promises of ‘Free’ Filing – Proposed settlement would require company to pay $7 million for consumer redress and make changes for consumers in tax filing seasons 2025 and 2026 A Federal Trade Commission lawsuit is leading to changes for consumers who use H&R […]
( Money Laundering Operations – Article ) ( Articles ) ( Money Laundering Operations ) Money Laundering Operations (MLO) Introduction MLO refer to the systematic processes used by individuals or organizations to disguise the origins of illegally obtained money, making it appear legitimate. This article will explore the key stages involved in money laundering operations, […]
( Insurance Fraud – Article ) ( Articles ) ( Insurance Fraud ) Insurance Fraud (I-Fraud) Introduction I-Fraud is a serious crime that affects not only insurance companies but also consumers and society at large. It involves deliberate deception to secure an unfair or unlawful gain from an insurance policy. This article will explore the […]