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A CEO of a bank holding corporation settled FTC charges for violations of the notice and waiting period requirements under the Hart-Scott-Rodino Act.
The SEC charged an online crypto lending platform, its founder, and its leading promoter and his company with carrying out a $2 billion fraudulent, unregistered securities offering. In a related action, the leading promoter pled guilty to DOJ charges of conspiracy to commit wire fraud and criminal forfeiture for his involvement in the fraudulent offering.
The CFPB proposed the implementation of requirements for small business lending data collection pursuant to Dodd-Frank. The requirements would apply to any entity engaged in financial activity that has "originated" 25 or more credit transactions to small businesses in the two calendar years preceding the effective date of the rule.
FINRA named five new industry members to FINRA's 22-member Board of Governors.