The CFPB filed a Complaint against a payday lender, alleging that the company (i) concealed the option of a free repayment plan to consumers struggling to repay their short-term, high-cost loans and (ii) "made electronic withdrawals of consumers’ money without their authorization."
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The SEC extended the period for Commission consideration of a FINRA proposal to require TRACE reporting of transactions in U.S. dollar-denominated foreign sovereign debt securities. The SEC set August 15, 2022 as the new date for when they will make a decision on the proposed rule.
A broker-dealer settled FINRA charges for sending trade confirmations to customers that were materially inaccurate.
FINRA proposed amendments that would require transactions in TRACE-eligible securities that currently are subject to a 15-minute reporting timeframe to be reported within one minute.
FINRA proposed to shorten the permitted syndicate account settlement timeframe for corporate debt offerings.