AG James Sues Cryptocurrency Platform KuCoin, Alleging Registration Status Violations

New York AG Letitia James filed a lawsuit against Mek Global Limited and Phoenixfin PTE Ltd., both doing business as KuCoin, alleging that the cryptocurrency platform violated the Martin Act when it failed to register as a commodity or securities broker-dealer and falsely represented itself as an exchange.
READ MORE

CFPB Shines a Spotlight on Junk Fees in Bank Deposits, Lending Markets

The CFPB issued a special edition of its Supervisory Highlights focusing on illegal, unnecessary charges by banks and other financial companies sometimes referred to as “junk fees.”
READ MORE

FTC Opposes Merger of Nation’s Two Largest Mortgage Loan Origination Systems Providers

The FTC issued a complaint against Intercontinental Exchange, Inc. and Black Knight, Inc., alleging that the proposed merger of the nation’s two largest providers of home mortgage loan origination systems would violate the FTC Act and the Clayton Act.
READ MORE

Michelle Henry Confirmed as Pennsylvania AG Following Josh Shapiro’s Gubernatorial Win

Michelle Henry was confirmed by the Pennsylvania Senate to serve as the state’s next AG.
READ MORE

Companies Settle for $2.1 Million with AG Bonta over Allegations Californians Bought Fraudulent Health Plans

Alliance for Shared Health, Inc. and an affiliated company and affiliated individuals settled with California AG Rob Bonta for $2.1 million to resolve allegations that thousands of Californians purchased unauthorized health service plans and insurance in violation of California’s False Advertising Law and Unfair Competition Law, as well several state insurance regulations.
READ MORE

Security Companies Ordered by FTC to Drop Non-Compete Agreements for Low-Wage Workers

The FTC issued finalized consent orders to settle allegations that Prudential Security, Inc. and Prudential Command Inc. and their owners violated the FTC Act through the unfair use of post-employment covenants not to compete, commonly referred to as “non-compete agreements.”
READ MORE