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Fox Rothschild LLP

Federal Reserve Board Fines Bank for Processing PPP Loans That Had Signs of Fraud

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In its first enforcement action related to COVID-19 government aid programs, the Federal Reserve Board recently announced that it has fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program...more

The Volkov Law Group

Dubai Bank Pays $100 Million to Resolve Sanctions Violations with DFS, OFAC and Federal Reserve

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Mashreqbank, based in Dubai, agreed to pay $100 million to the New York Department of Financial Services, the Federal Reserve, and the Office of Foreign Asset Control for violation of the now-repealed Sudan Sanctions...more

Robins Kaplan LLP

Financial Daily Dose 5.5.2021 | Top Story: Yellen’s Interest Rate Comments Roil Markets, Prompt Clarification

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Treasury Secretary Yellen perhaps inadvertently dipped back into Fed Chair mode for a bit on Tuesday, acknowledging that some movement in interest rates may be necessary to “keep the economy from overheating given the large...more

Robins Kaplan LLP

Financial Daily Dose 6.4.2020 | Top Story: DOJ Indicts Top Chicken Industry Execs Over Price-Fixing Allegations

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The DOJ has begun the prosecutorial phase of its chicken price-fixing investigation with a one-count indictment accusing current and former senior execs at Pilgrim’s Pride and Claxton Poultry Farms—including their current...more

Robins Kaplan LLP

Financial Daily Dose 3.24.2020 | Top Story: Fed’s “Unlimited” QE Promise Doesn’t Reassure Markets Amid D.C. Deadlock

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A promise of “unlimited” QE from the Fed Monday morning briefly turned the tides on Dow futures but wasn’t enough to overcome another day of COVID-19-related fears and DC gridlock over the $1.8 trillion stimulus package III...more

Robins Kaplan LLP

Financial Daily Dose 3.5.2020 | Top Story: HP Rejects Xerox’s Hostile Takeover Bid

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HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders....more

Robins Kaplan LLP

Financial Daily Dose 2.14.2020 | Top Story: Amazon Wins Injunction of JEDI Cloud-Computing Contract

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In a massive win for Amazon (because, again, Jeff NEEDS it), Court of Federal Claims Judge Patricia Campbell-Smith has granted the company’s motion for an injunction halting Microsoft’s work on the $10 billion cloud-computing...more

Robins Kaplan LLP

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

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-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more

Robins Kaplan LLP

Financial Daily Dose 1.29.2020 | Top Story: Chipotle fined over thousands of child labor law violations in Massachusetts

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Massachusetts has fined Chipotle $1.4 million as part of a settlement with the restaurant chain over accusations that “it routinely violated [state] labor laws, with authorities estimating more than 13,000 violations from...more

Robins Kaplan LLP

Financial Daily Dose 10.31.2019 | Top Story: Fed Delivers Expected Interest Rate Cut

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As universally expected, the Fed’s Open Market Committee delivered its third interest rate cut of 2019 yesterday, though it did so while signaling that it’s likely to pause before taking action again and “is now shifting into...more

Robins Kaplan LLP

Financial Daily Dose 10.6.2019 | Top Story: Drug Distributors and Maker in Talks for Multi-billion-dollar Opioid Litigation...

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A group of three major drug distributors—McKesson, AmerisourceBergen, and Cardinal Health—are in the midst of talks with representatives of state and local governments who have brought more than 2000 opioid-related lawsuits...more

Robins Kaplan LLP

Financial Daily Dose 9.12.2019 | Top Story: Purdue Pharma Reaches Tentative Comprehensive Opioid Crisis Settlement

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The White House is reportedly nearing a nationwide ban on most flavored e-cigarettes, a direct response to the recent spate of vaping-related illnesses that have affected hundreds across the country....more

Robins Kaplan LLP

Financial Daily Dose 5.7.2019 | Top Story: Occidental Ups Cash Bid for Anadarko

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Occidental has increased the cash portion of its recent bid for rival Anadarko, upping the cash side of its $38 billion offer to 78% (from 50%). Chevron now has 4 days to sweeten its bid or lose out – NYTimes and WSJ and...more

Robins Kaplan LLP

Your Daily Dose Of Financial News

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The downfall of Nissan’s Carlos Ghosn continues today with news that Ghosn has been arrested by Japanese prosecutors over the recently revealed whistle-blower complaint alleging that he had “been misrepresenting his salary as...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Markets proved that last Friday’s 600-point Dow drop wasn’t an isolated incident, as all major US indices were down nearly 4% (at least) in a nasty Monday of trading....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The emissions cheating scandal that recently cost VW $4.3 billion and a mess of criminal indictments isn’t, it seems, confined to the Germans. We heard months ago about a similar probe into Mitsubishi, and yesterday we...more

Katten Muchin Rosenman LLP

Bridging the Week - November 2016 #3

Federal District Court Approves Flash Crash Spoofer’s US $38 Million Settlement; Federal Appeals Court Appears Sympathetic to Michael Coscia’s Claim That Spoofing Prohibition Is Too Vague - The US federal court handling...more

Robinson+Cole Data Privacy + Security Insider

Cyber prosecutions update

The feds have been busy on the cyber prosecutions front. First, on March 18, 2016, the FBI announced that a multi-agency collaborative effort blew up an identity theft ring whose leader was an inmate in a Georgia prison. The...more

Blank Rome LLP

DOJ Offshore Enforcement Update: In Landmark Case, Credit Suisse Pleads Guilty, Agrees to Pay $2.6 Billion Penalty; Swiss Bank...

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Yesterday, the Department of Justice announced that Credit Suisse AG pleaded guilty to having assisted U.S. taxpayers in evading the payment of U.S. taxes and agreed to pay a penalty of $2.6 billion. Deputy Attorney General...more

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