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Enforcement Actions › Consumer Protection Laws › Anti-Money Laundering

Orrick, Herrington & Sutcliffe LLP

California and other state regulators fine money transmitter $4.2M for BSA/AML violations

Orrick, Herrington & Sutcliffe LLP on

On July 9, the California DFPI, alone and joining five other state financial regulatory agencies, announced a multistate enforcement action resulting in a $4.2 million penalty against a licensed money transmitter for alleged...more

Morrison & Foerster LLP

The FTC Gives the Merchant of Record Model a Paddling

Morrison & Foerster LLP on

The Federal Trade Commission (FTC) recently settled an enforcement action with Paddle.com, a U.K.-based payments company, and its U.S. subsidiary (“Paddle”). The settlement resolves claims against Paddle for violation of the...more

Sheppard Mullin Richter & Hampton LLP

FDIC and Maryland End Joint Consent Orders Against Regional Bank

Sheppard Mullin Richter & Hampton LLP on

On April 7, the FDIC and the Maryland Office of Financial Regulation terminated two consent orders against a regional bank headquartered in Maryland. The termination concludes joint federal and state enforcement actions that...more

BCLP

FCA publishes its 2022/23 Annual Report and Enforcement data

BCLP on

The FCA released its 2022/23 Annual Report last week together with data on its key enforcement trends. We consider below some of the key takeaways....more

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