Regulation

Credit

PPP “Loan Necessity” Form Causes a Stir

A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.

Vincent Ryan
November 20, 2020
Regulation

FTC Says Fintech Startup Beam Misled Consumers

Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
Regulation

Facebook, Twitter CEOs Defend Their Election Actions To The Senate

Mark Zuckerberg told Sen. Mike Lee, Utah Republican, that the company occasionally made "mistakes."
Regulation

Wells Fargo Former Execs Charged With Misleading Investors

The SEC said John Stumpf and Carrie Tolstedt misled investors about the bank’s success in selling multiple products to customers.
Regulation

Nebraska Voters OK 36% Cap on Payday Loan Interest

“This is a huge victory for Nebraska consumers and the fight for achieving economic and racial justice."
Risk & Compliance

SEC Fines From Enforcement Hit Record $4.68B

The number of new enforcement actions fell 17% this year but the SEC opened more than 150 COVID-related inquiries and investigations.
Regulation

Tech Execs Face Questions on Immunity Law

The heads of Facebook, Twitter, and Google said changes to Section 230 could change how they moderate content.
Regulation

EU Charges Amazon With Antitrust Violations

Regulators say Amazon illegally uses nonpublic data that it collects from sellers on its retail platform to boost sales of its own-label products.
Regulation

DOJ Considers Blocking Visa’s Acquisition of Fintech Firm Plaid: Report

The proposed transaction is being reviewed over antitrust concerns.
Compensation

Goldman Sachs to Claw Back Exec Bonuses and Cut Compensation

Goldman Sachs also agreed to pay more than $2.9 billion as part of a deferred prosecution agreement with the U.S. Department of Justice.
Regulation

Beware This Misstep With Share Buybacks

Knowledge of a potential sale eluded Andeavor LLC's internal controls team, causing the firm to violate securities law.
Health Benefits

7 Ways COVID-19 Will Transform Health Care

The pandemic could promote disruptive innovation to lower costs, but it will take pressure from the business community to make it happen.
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