The FTC released its annual Consumer Sentinel Network Data Book on February 27, 2014, providing national and state-by-state data on consumer complaints received by the FTC, all U.S. and Canadian Better Business Bureaus, the CFPB and other federal and state agencies in the previous year.
On Tuesday, Bank of America disclosed in its annual report with the US Securities and Exchange Commission (SEC) that “government regulators” in North America, Europe and Asia are investigating its foreign exchange and mortgage practices and that the U.S. Department of Justice (DOJ) and state attorneys general are also investigating its handling of mortgage loans and residential mortgage-backed securities (RMBS).
On February 21, 2014, the District of Puerto Rico strayed from a prominent decision out of the First Circuit that employed the “definitively and specifically” standard governing protected activity under Section 806 of SOX, choosing instead to defer to the ARB’s rather expansive standard.
The number of Canadian businesses accepting virtual currencies as a form of payment is growing. Bitcoin is emerging as the most popular of these new currencies – none of which are subject to a central authority.
One of the most highly anticipated events in the annual business cycle is the March release of Warren Buffett’s letter to the shareholders of Berkshire Hathaway.
CFPB Files Enforcement Action Against for-profit Education Company Over Alleged Predatory Lending Tactics
After hinting for months that it intends to use its enforcement powers to police lending in the higher education arena, the CFPB dropped the hammer on ITT Educational Services, filing suit against the for-profit college over alleged predatory lending practices.
Brian Krebs is a must-follow on Twitter. Krebs, an independent investigative journalist who writes about computer crime for his website, and previously wrote for The Washington Post from 1995 to 2009, tweeted this over the weekend.
Although Whole Foods is one of my favorite grocery stores, I experienced sticker shock today when I bought fresh fish from Stop n’ Shop.
Mt. Gox shut down and a lawsuit was filed that alleges Mt. Gox and Mark Karpeles’ “catastrophic loss …uncovered a massive scheme to defraud millions of consumers into providing a private company with real, paper money in exchange for virtual currency.”
Some pension plans invest in private equity funds or funds of funds. Certain private equity funds invest in companies with pension plans. This means that pension funds that invest in this asset class need to be aware of any deficiencies in their plans as well as those portfolio company plans to which they are likewise exposed.