It was a mistake that left a lot of people scratching their heads. Around 300,000 Honda and Acura drivers found themselves wrongly flagged as delinquent on their credit reports, despite having done nothing wrong. The culprit was a misstep by the American Honda Finance Corporation (Honda Finance), which has now been hit with a hefty $12.8 million penalty by the Consumer Financial Protection Bureau (CFPB).
The Securities and Exchange Commission (SEC) isn’t exactly easing into fiscal year 2025—it’s hitting the ground at a full sprint. With 200 enforcement actions logged between October and December 2024, including 118 standalone cases, the agency is making one thing clear: no stone is being left unturned in its mission to protect investors and uphold market integrity. October alone set a blistering pace, with 75 actions filed, marking the busiest single month since the turn of the millennium.
For the residents of Artesia, New Mexico, clean air has been a long time coming. Years of living in the shadow of HF Sinclair Navajo’s refinery—grappling with elevated benzene levels and smog-inducing emissions—have taken their toll on a community already bearing more than its fair share of pollution. But now, thanks to a recent settlement brokered by the Department of Justice (DOJ), the Environmental Protection Agency (EPA), and the New Mexico Environment Department (NMED), there’s a renewed promise of relief.
For many consumers, credit reports are the gatekeepers of opportunity. They determine whether someone can buy a home, secure a loan, or even get a job. But what happens when that gatekeeper stumbles—repeatedly? Enter Equifax, one of the nation’s largest credit reporting agencies, now facing a $15 million civil penalty from the Consumer Financial Protection Bureau (CFPB) for its botched handling of consumer disputes.
During the height of the COVID-19 pandemic, the Paycheck Protection Program (PPP) was more than just financial aid—it was a lifeline for small businesses fighting to survive. But for Unified Care Services LLC, a chain of skilled nursing facilities based in Torrance, California, it became the focal point of an $18 million settlement for alleged fraud. This case serves as a sobering reminder of the consequences when businesses misuse taxpayer-funded programs meant to provide relief.
The Securities and Exchange Commission (SEC) has recently announced settlements with Wells Fargo and Merrill Lynch over compliance failures related to their cash sweep programs. Combined, the firms will pay $60 million in civil penalties.
The Securities and Exchange Commission (SEC) is taking a tough stand against Two Sigma Investments LP and Two Sigma Advisers LP, two major New York-based investment advisers, for neglecting to fix known vulnerabilities in their investment models, resulting in potential harm to clients. The SEC’s order also highlights a disturbing breach of whistleblower protections that puts a dark cloud over the firm’s reputation.