Sections
settlement
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LegalFirst Data And Exec To Pay $40M To Settle FTC Fraud Case
Payments processing giant First Data Merchant Services and one of its executives will pay $40.3 million to settle allegations that they laundered...
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Buy Now Pay LaterAfterpay Fined By CA Regulator For Unlicensed Loans
Australian startup Afterpay is settling with the California Department of Business Oversight (DBO) over allegations that the buy now, pay later (BNPL)...
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Bank RegulationFifth Third Faces CFPB Probe Over Fake Accounts
Fifth Third Bank said it’s facing enforcement action from the Consumer Financial Protection Bureau (CFPB) over alleged openings of unauthorized accounts. The...
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ANTITRUSTRent-To-Own Companies Settle Antitrust Case With FTC
Rent-to-own (RTO) companies Rent-A-Center, Buddy’s and Aaron’s have all settled a case with the Federal Trade Commission (FTC) alleging they made reciprocal...
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SMBsNew Data: 75 Pct. Of SMBs Say Slow Settlement Creates Cash Flow Crises
Small businesses play a vital role in the U.S. economy. There are more than 30 million companies that employ less than 500...
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RetailFTC Settles With Sunday Riley Over Fake Sephora Reviews
Sunday Riley has settled with the FTC over an accusation that it posted fake customer reviews on the Sephora site. The Texas-based...
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MastercardMastercard Teams With PNC To Enable Payments On Delivery
Mastercard announced that it is partnering with PNC Bank to pilot Payment on Delivery, a new solution allowing businesses to pay a...
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LoansLendingClub Offers Same-Day Loan Settlements
LendingClub, an online marketplace that connects borrowers and investors, has launched a new marketplace called LCX with the intention of drawing a...
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BitcoinBitcoin Daily: Some Safeway Stores To Give Bitcoin As Change; Canadian ICO Consultant CoinLaunch To Pay $50K Settlement
Initial coin offering (ICO) consultant CoinLaunch will pay $50,000 to settle with the Ontario Securities Commission (OSC). According to the regulator’s website,...
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EarningsEquifax Reports Slight Q2 Revenue Bump As Breach Deal Looms
Equifax on Wednesday (July 24) reported that its second quarter 2019 operating revenue hit $880 million, up slightly from the approximately $877...
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Partnerships / AcquisitionsT-Mobile, Sprint Merger Could Be At Risk If DOJ Sues
The Department of Justice (DOJ) may file a lawsuit to block the merger of telecom giants Sprint and T-Mobile if the two...
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FacebookFacebook, FTC Reportedly Reach $5B Settlement
The Federal Trade Commission and Facebook have reached a tentative decision to settle ongoing privacy issues with a $5 billion settlement, according...
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LegalBrazil Bribery Charges Cost Walmart $282M
Walmart will pay a total of $282 million to settle with the U.S. Department of Justice and the Securities and Exchange Commission...
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Security & FraudZuckerberg Emails Could Link CEO To Privacy Issues
The Wall Street Journal is reporting that there are emails sent by Facebook CEO Mark Zuckerberg that possibly link him to troublesome...
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B2B PaymentsHSBC Settles Corporate Loan Misselling Dispute
The U.K. financial institution HSBC has reportedly reached a settlement with a group of companies that claim the bank misled them about...
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Security & FraudAllied Wallet Settles With FTC Over Fraud Charges
Allied Wallet, an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges...
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BitcoinBitcoin Daily: Komodo Blockchain Platform Hacked Itself To Protect Users’ Crypto; ING Gets On Board With USC Blockchain Project
Blockchain startup Komodo Platform resorted to hacking its users’ wallets in order to save $13 million in bitcoin and other cryptocurrency from...
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FacebookFTC Split Over Facebook Settlement Delays Decision
With a reported split between the Democrats and Republicans on the Federal Trade Commission (FTC), an anticipated settlement between Facebook and federal...
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B2B PaymentsBlockchain Hits The Road (Literally)
Blockchain is hitting the road as Honda and GM link on a project tied to electric vehicles and smart grids. Separately, South...
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LegalAllied Wallet Settles With FTC Over Fraudulent Payment Allegations
Payment company Allied Wallet and its owner, Ahmad Khawaja, as well as two officers, Mohammad Diab and Amy Rountree, have settled with...
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BlockchainA Group Of Banks Are Developing A Blockchain Settlement System
A slew of banks, including some of the largest in the world, are working together to develop a digital cash system that...
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FacebookFacebook Could Face 20-Year Government Oversight As Part Of Settlement
Facebook could face two decades of oversight as part of an agreement with the U.S. government. According to a report in Reuters...
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BankingFed Seeks Comment On New Operating Hours For Fedwire Funds
The Federal Reserve has released a request for comment on potential changes to its National Settlement Service (NSS) and Fedwire Funds Service,...
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EarningsMoneyGram’s Q1 Slide Overshadows Digital Growth
MoneyGram shares were pummeled in intraday trading on the heels of reporting results that lagged expectations and showed the lingering impact of...
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B2B PaymentsHertz Sues Former Execs Following SEC Settlement
Rental car company Hertz is suing some of its former executives after a $16 million settlement of financial accounting violations with the U.S....
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FacebookSenators Oppose FTC/Facebook Settlement
Two U.S. senators have spoken out against a reported settlement between the Federal Trade Commission (FTC) and Facebook related to the Cambridge...
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FacebookFTC Split On Size, Scope Of Facebook Fine
With Facebook and the Federal Trade Commission in the final stages of settlement talks, disagreements between the five-member FTC panel are complicating...
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FacebookFacebook To Create Privacy Committee As Part Of FTC Settlement
Facebook is in discussions with the Federal Trade Commission over a settlement that would include appointing privacy-focused executives in the C-suite. Politico,...
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B2B PaymentsB2B Payments Energized (Literally) Across Borders
In Thailand, the biggest company — one that stakes its claim on petroleum — is boosting its cross-border efforts through a pact...
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LegalApple’s Settlement With Qualcomm May Have Cost As Much As $6 Billion
The legal battle between Apple and Qualcomm is over, and UBS is estimating the iPhone maker paid Qualcomm in the neighborhood of...
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AppleWith Apple Patent Dispute Over, Qualcomm Stock Surges
After winning a major victory in its legal dispute with Apple, Qualcomm saw its shares surge 23 percent for its biggest gain in...
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BankingWells Fargo Reaches $240M Settlement For Fake Accounts
Wells Fargo has reached a $240 million settlement with U.S. shareholders over the scandal involving its bank employees opening up millions of unauthorized...
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LegalSEC Says Musk Violated Settlement With Recent Tesla Tweet
The U.S. Securities and Exchange Commission is going after Tesla Chief Executive Elon Musk, preparing to pursue a contempt order over what...
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FacebookFacebook-FTC Row Could Produce Record Fine
Facebook is set to face a record-setting fine imposed by the Federal Trade Commission (FTC). Sources have told The Wall Street Journal that the...
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CFPBCFPB, Payday Lenders Settle
The Consumer Financial Protection Bureau, the government watchdog agency, settled with a handful of payday lenders over alleged violations of the Consumer...
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LegalWalgreens Agrees To $60M Settlement For Overpriced Prescriptions
Walgreens has agreed to pay $60 million to settle allegations that it overcharged government healthcare plans for prescription drugs. The settlement, which...
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RetailSignet Jewelers To Pay $11M After Creating Fake Accounts
According to a settlement that was signed with a wholly owned subsidiary, Signet Jewelers Ltd. is to pay federal and state regulators penalties of...
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Security & FraudNeiman Marcus Agrees To Pay $1.5M To Settle Payment Card Breach
The Maryland Attorney General Brian Frosh announced Tuesday (Jan. 8) that his office, as well as 42 other state attorney generals, have settled...
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RegulationBCFP, USAA Settle After Payment Violations
The Consumer Financial Protection Bureau (CFPB) announced on Thursday (Jan. 3) that it had reached a settlement with USAA Federal Savings Bank...
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Security & FraudEquifax Settles With NY AG Over App Security
The Office of the New York State Attorney General Barbara Underwood announced late last week it reached settlements with five companies whose...
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Security & FraudAriseBank To Pay $2.3M Over ICO Violations
AriseBank, a startup that ran afoul of regulators in the U.S. with its initial coin offering (ICO), agreed to pay $2.3 million,...
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LegalSEC Chairman Says Tesla Case Is Settled Despite Musk Tweet
Despite Tesla Chief Executive Elon Musk’s early October tweet in which he called the Securities and Exchange Commission (SEC) the “Shortseller Enrichment...
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LegalSociété Générale Fined $1.34B For Violating US Sanctions
Société Générale S.A. of Paris, France has agreed to pay U.S. federal and state authorities $1.34 billion to resolve legal disputes due...
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Security & FraudMoneyGram Settles With FTC For $125M
The Federal Trade Commission (FTC) said on Thursday (Nov. 8) that MoneyGram will pay $125 million in penalties after having violated a six-year-old...
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GoogleGoogle Search Case Could Impact Class-Action Payouts
A case involving Google Search could change the way that class-action settlements are paid out, assuming the U.S. Supreme Court comes through...
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CFPBCFPB, Payday Lender Cash Express Settle Lawsuit
The Consumer Financial Protection Bureau (CFPB) has announced a settlement with payday lender Cash Express, which will pay approximately $32,000 in restitution...
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Security & FraudUber Agrees To Pay $145M Fine To Settle Data Breach Lawsuit
California Attorney General Xavier Becerra and San Francisco District Attorney George Gascón announced on Wednesday (Sept. 26) that they have reached a...
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BankingCitibank Agrees To Settle SEC ‘Dark Pool’ Claims For $12M
To settle allegations involving its premium “dark pool” called Citi Match, Citigroup will pay more than $12 million in “disgorgement and penalties.”...
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RetailToys R Us Settles With Creditors To Complete Bankruptcy
Toys R Us has come to a settlement agreement with some groups of creditors, including vendors, to resolve its disputes related to...
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LegalVisa, Mastercard May Reach Settlement In Card Swipe Fee Suit
More than a decade after merchants brought a class-action suit against Mastercard, Visa and card-issuing banks in 2005, a settlement between the...
