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Maryland, Securities Regulators Settle With BlockFi Over Alleged Failure to Register When Selling Crypto Securities

Maryland AG Brian Frosh and the Securities Commissioner of Maryland joined other state securities regulators and the US Securities and Exchange Commission in reaching a settlement with digital-asset financial services company BlockFi Lending LLC to resolve allegations that BlockFi illegally sold unregistered securities in the form of interest-bearing digital assets. According to the Consent Order,…

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Texas AG Paxton Joins Multistate Investigation of S&P Global’s ESG Ratings

Texas AG Ken Paxton issued a Civil Investigative Demand under the Texas Deceptive Trade Practices-Consumer Protection Act to S&P Global, Inc., a credit rating agency, seeking documents and information regarding S&P’s use of Environmental, Social, and Governance (ESG) ratings in its credit ratings analysis. According to the AG’s office, the CID is part of Texas’…

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CFPB Orders Regions Bank to Pay for Surprise Overdraft Fees

The CFPB has reached a settlement with Regions Bank to resolve allegations that Regions charged its customers overdraft fees on certain ATM withdrawals and debit card purchases even after telling consumers they had sufficient funds—known as “authorized-positive overdraft fees”—in violation of the Consumer Financial Protection Act of 2010. According to the CFPB, many consumers did…

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AG James Sues Crypto Companies Over Alleged Failure to Register and Misrepresentations

New York AG Letitia James sued Cayman Islands-based cryptocurrency companies Nexo Inc. and Nexo Capital, Inc. (collectively, “Nexo”), alleging that Nexo violated New York’s Martin Act and Executive Law by failing to register with the state as securities and commodities brokers or dealers and for misrepresenting its registration status to investors.

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AGs Issue Warning on Merchant Code for Gun Stores

A group of 24 AGs led by Montana AG Austin Knudsen and Tennessee AG Jonathan Skrmetti sent a letter to the CEOs of three major credit card companies, American Express, MasterCard, and Visa, expressing their concerns about a merchant category code for firearm stores developed by the International Organization for Standardization, which sets international standards…

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