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Stankie Law

Important Sanctions Compliance Lessons from OFAC’s $11.8m Settlement with Interactive Brokers

Stankie Law on

On July 15, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a settlement agreement with Interactive Brokers LLC (“Interactive Brokers”) violations of multiple U.S. sanctions...more

Ballard Spahr LLP

More Early Terminations of Redlining Consent Orders

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As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was...more

Shook, Hardy & Bacon L.L.P.

NCAA’s $2.8 Billion Athlete Revenue Settlement Receives Final Approval

Not only does Judge Claudia Wilken’s final approval of the In re: College Athlete NIL Litigation settlement provide $2.576 billion in damages for settlement class members, it changes the rules of the game for current and...more

Troutman Pepper Locke

CFPB and Townstone Financial Move to Vacate Redlining Settlement Alleging Misconduct Under Former CFPB Director

Troutman Pepper Locke on

In a surprising turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. (Townstone) have jointly moved to vacate the Stipulated Final Judgment and Order previously entered in...more

Ballard Spahr LLP

Are Whistleblower Protection Violations the New SEC Sweep?

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The Securities and Exchange Commission (SEC) continues to investigate companies for including language in their employment and separation agreements or retail client settlement agreements that potentially discourages...more

The Volkov Law Group

Wells Fargo Pays OFAC $30 Million to Settle Sanctions Violations (Part I of II)

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In our lifetime (however long or short), there is no way any company will ever match Wells Fargo for its record of misconduct, criminal and civil enforcement, and regulatory fines and penalties.  No one, no way....more

Bilzin Sumberg

An Opportune Time For Financial Institutions to Review Their Fair Lending Procedures

Bilzin Sumberg on

At the beginning of his term, President Biden declared that his administration would make it a policy to eliminate “racial bias and other forms of discrimination in all states of home-buying and renting.”...more

The Volkov Law Group

UK Bank Agrees to Pay $4 Million to Settle OFAC Sudanese Sanctions Violations

The Volkov Law Group on

Last week, British Arab Commercial Bank (BACB), located in the United Kingdom, agreed to settle an OFAC enforcement action for $4 million. ...more

The Volkov Law Group

Deutsche Bank Settles FCPA Case with SEC for $16 Million for Hiring Relatives of Public Officials

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If there ever was a poster-child for reputational damage for a financial institution, Deutsche Bank would be the first and only candidate.  Talk about a bank that is in trouble and continues to fall under government scrutiny....more

A&O Shearman

SEC Chairman Announces Significant Changes to Commission Procedures for Considering Disqualification Waivers

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On July 3, 2019, Chairman Jay Clayton of the Securities and Exchange Commission (SEC) issued a Statement Regarding Offers of Settlement (the “Public Statement”) to announce a significant shift in the SEC’s process of...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Blink, and it’s Jobs Report Friday again.  Where does the time go? Here’s what we’re watching for in the numbers....more

Ballard Spahr LLP

Australia’s Largest Bank Agrees to Historic AML Penalty

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Commonwealth Bank of Australia (“CBA”), the largest bank in Australia, has agreed to a proposed civil settlement — subject to court approval — of historic proportions, involving a fine of approximately $700 million Australian...more

Davis Wright Tremaine LLP

HIPAA Wake-Up Call for Financial Institutions: First HIPAA Settlement with Business Associate

It’s a HIPAA first. A business associate has settled a direct enforcement action over allegations that it potentially violated the Health Insurance Portability and Accountability Act (HIPAA). This settlement portends future...more

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