Civil Monetary Penalty

News & Analysis as of

CFPB enters into consent order with credit union

The CFPB announced that it has entered into a consent order with Navy Federal Credit Union to settle allegations that the credit union engaged in unfair and deceptive collection practices in violation of the Consumer...more

SEC Says Mobile Phone Game is an Illegal Security-Based Swap

I previously discussed an SEC Investor Alert which said fantasy stock trading for small amounts of money can violate provisions of securities laws implemented by the Dodd-Frank Act. According to the SEC, the terms “swap,”...more

California Prop 65: More Unintended Consequences

Last month, the California Office of Environmental Health Hazard Assessment (“OEHHA”) adopted new Proposition 65 warning regulations. Much of the discussions regarding these new regulations have centered on the warning...more

With Penalties On The Rise, It's Time For Employers To Clean House Before OSHA Arrives

For the first time in twenty-five years, Occupational Safety and Health Administration (OSHA) fines have increased significantly. In particular, last fall Congress enacted legislation that required all federal agencies to...more

John Fogarty Rocks-Nu Skin Informs Oversight

I recently saw John Fogerty in concert. For those you are not aware, he was a founding member and the driving force behind Creedence Clearwater Revival (CCR), one of the very top American groups from the 1960s and early...more

Houston Court of Appeals Affirms Jury Verdict and Trial Court Instructions in San Jacinto Waste Pits Case

In a decision released on October 6, 2016, the Court of Appeals for the First District of Texas, sitting in Houston, unanimously affirmed the jury’s verdict that International Paper Company (IP) was not liable for large...more

The FTC Announces New Rules for Debt in Calculating HSR Reporting, Effective Immediately

The FTC announced yesterday an immediate change in the way it will treat debt to determine whether any transaction that has not yet closed may require an HSR Act pre-closing notification. Starting today, the old rule that new...more

Is Your Company Compliant? CFPB Requires Written Enterprise-Wide UDAAP Risk-Management Program

The Consumer Financial Protection Bureau (CFPB) ordered First National Bank of Omaha (FNBO) to pay a $4.5 million civil money penalty and $27.75 million in customer restitution for violations of engaging in deceptive...more

CPSC Sends Another Shot Across the Bow of Retailers with $3.8 Million Civil Penalty Against Best Buy for the Sale of Recalled...

On Tuesday, the U.S. Consumer Product Safety Commission (CPSC) announced that Best Buy Co., Inc. entered into a settlement agreement with the CPSC to pay a $3.8 million civil penalty to resolve allegations that it “knowingly...more

Business Litigation Report - September 2016

Second Circuit Rejects Massive Class Action Settlement and Affirms Importance of Adequate Representation and Due Process Rights for Absent Class Members - The Second Circuit Court of Appeals recently considered whether...more

False Claims Act Developments Significantly Impact a Broad Range of Industries Doing Business with the U.S. Government

No other area of government enforcement or civil liability has experienced anything quite like the three dramatic developments in initiation, penalties and standards for False Claims Act cases over the last twelve months. FY...more

CFPB Sends Clear Message That FinTech Start-Ups Have Same Obligations as Established Companies

In a clear message to FinTech start-ups, on September 27, 2016, the Consumer Financial Protection Bureau (CFPB) ordered online lender Flurish, Inc. to pay $1.83 million in refunds and a civil penalty of $1.8 million for...more

DOJ Secures $83 Million Settlement Over Alleged FHA Underwriting Violations

On September 29, the U.S. Department of Justice (DOJ) announced that it had secured a settlement from a national lender, resolving allegations that the lender violated the False Claims Act, Program Fraud Civil Remedies Act,...more

CFTC Issues Fourth Penalty for Inaccurate Large Trader Reporting of Swaps

On September 27, 2016, the U.S. Commodity Futures Trading Commission (“CFTC” or the “Commission”) issued a fourth penalty for violations of its Swaps Large Trader Reporting (“Swaps LTR”) rule. This time, the penalty was...more

CFPB Flunks For-Profit Education Company, Orders $31M Payment

Continuing its recent focus on student lending, the Consumer Financial Protection Bureau (CFPB) ordered a for-profit college company to provide loan forgiveness and refunds of more than $23 million, adding an $8 million civil...more

This Cold Bud Is For You: SEC Sanctions Anheuser-Busch for “Chilling” Employee from Communicating with SEC

On September 28, 2016, the SEC announced that Anheuser-Busch agreed to pay $6 million to settle charges of Foreign Corrupt Practices Act and Dodd-Frank whistleblower violations. The SEC’s order stated that AB InBev violated...more

Weekly Update Newsletter - September 2016 #4

GOVERNMENT CONTRACTS - Amendments to Department of Defense (“DOD”) Mentor-Protégé Program DOD has issued a proposed rule which will amend the DFARS to implement Section 861 of the NDAA 2016, which provides amendments...more

Anheuser-Busch InBev and Lessons in Joint Venture FCPA Compliance

Just in time for National Beveridge Day comes the Foreign Corrupt Practices Act (FCPA) enforcement action involving Anheuser-Busch InBev (ABI), where the company paid $6 million to settle charges that it violated the FCPA and...more

FERC’s Maxim Settlement Shows Continued Focus on ISO and RTO Bidding Conduct

On September 26, 2016, the Federal Energy Regulatory Commission (FERC or the “Commission”) issued an order1 approving a Stipulation and Consent Agreement between its Office of Enforcement (“Enforcement”) and Maxim Power Corp....more

One Year Later: The Yates Memo, False Claims Act and Director & Executive Liability

On September 19 and 27, 2016, the US Department of Justice announced two False Claims Act settlements that required corporate executives to make substantial monetary payments to resolve their liability. How will director and...more

Billing Companies Beware – OIG Signals a Crackdown on Fraud and Abuse at All Levels

In an unprecedented administrative action, the U.S. Department of Health & Human Services Office of the Inspector General (“HHS-OIG”) penalized a medical billing company for preparing and submitting claims to Medicare for...more

CFPB and California Announce Enforcement Actions Against Online Lender

On Tuesday, September 27, 2016, the CFPB and the California Department of Business Oversight (“DBO”) announced separate enforcement actions against Flurish, Inc., an online lender that does business as “LendUp” in California...more

Medicare Providers - Beware! CMPs are Increasing

On September 6, 2016, the Department of Health and Human Services published an interim final rule which became effective immediately. The new regulation adjusts for inflation the maximum civil monetary penalty (CMP) amounts...more

FTC Wins Health Benefit-Related Deceptive Advertising Lawsuit

The Federal Trade Commission (“FTC”) recently prevailed in a deceptive advertising lawsuit against COORGA Nutraceuticals Corporation (“COORGA”) and its principal. The judgment provides for, among other things, a monetary...more

CFPB Enters $9 Million Consent Order with Title Lender Over Disclosures and Debt Collection Activities

On September 26, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with one of the country’s largest auto title lenders over allegations that the lender misled consumers about the terms and costs of...more

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