An international commodities trading company pled guilty and paid monetary penalties to resolve DOJ charges for violating the Foreign Corrupt Practices Act. The company had been charged with bribing then-public officials of an Ecuadorian state-owned oil company to secure business advantages and contracts.
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In a partially redacted Order in a "Supervisory Designation Proceeding," the CFPB determined that it has supervisory authority over an installment lender after concluding that the lender met the legal standard for supervision under the Consumer Financial Protection Act.
A global software company settled SEC charges for anti-bribery, books and records and internal accounting controls violations under the Foreign Corrupt Practices Act.
Treasury Secretary Janet L. Yellen congratulated staff at the Financial Crimes Enforcement Network for the successful launch of the beneficial ownership reporting system. The reporting requirements went into effect on January 1, 2024.
The CFPB reviewed federal student loan servicing practices since required repayments have resumed.