Senators Hawley and Sanders seek to limit credit card interest rates to 10 percent. Senators Josh Hawley of Missouri and Bernie Sanders of Vermont jointly introduced a bill…
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CFPB Sues Capital One for Cheating Customers Out of $2 Billion in Interest
The bureau alleges the company published misleading communications about new savings accounts. The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against the bank Capital One for…
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Treasury Department Targets Russian Sanctions-Evasion Network
Partnership with China facilitated payments for American goods. The Treasury Department sanctioned over 150 entities and individuals involved in a scheme to help Russia circumvent preexisting sanctions enforced…
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Supreme Court Considers Chicago Alderman’s Corruption Appeal
Justices question the distinction between false and misleading statements. The Supreme Court recently heard oral arguments in an appeal filed by a former Chicago politician. The justices seemed…
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Treasury Secretary Leads Financial Literacy and Education Meeting
She reviews the implementation required for the Treasury’s financial inclusion strategy. Secretary of the Treasury Janet Yellen spoke at a meeting of the Financial Literacy and Education Commission…
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FTC Issues Refunds to Consumers Misled by Credit Karma’s False “Pre-Approval” Claims
Refunds target misleading credit offers promising high odds of approval. The Federal Trade Commission (FTC) is distributing more than $2.5 million to nearly 51,000 consumers misled by Credit…
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J.P. Morgan Settles SEC Charges for Investor Misconduct
The firm agrees to pay over $151 million for misleading disclosures, fiduciary breaches, and conflicts of interest in multiple enforcement actions. The U.S. Securities and Exchange Commission (SEC)…
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Appellate Court Rules U.S. Can Prosecute Turkish Bank Through DOJ Probe
Foreign immunity is not extended to entities aiding in sanctions evasion. The Second Circuit U.S. Court of Appeals ruled that the federal government may prosecute Turkish bank Halkbank…
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TD Bank Reaches $3 Billion Money Laundering Settlement with Justice Department
It is the largest bank ever to plead guilty to money laundering in the United States. The Department of Justice (DOJ) came to a $3 billion agreement with…
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Treasurer Chief Malerba Visits Band Ojibwe Reservation to Review Federal Investments
New bank, wastewater treatment facility, and townhomes funded by grants. U.S. Treasurer Chief Lynn Malerba visited the Mille Lacs Band of Ojibwe reservation in Minnesota last month, touring…
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