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Washington AG Recovers Additional $9.3 Million in Stolen Unemployment Funds

Washington AG Bob Ferguson announced that his office has recovered an additional $9.3 million in money stolen as part of a nationwide pandemic unemployment fraud scheme perpetrated against the state’s Employment Security Department.

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FTC Finalizes Consent Order with Credit Karma over Deceptive “Pre-Approval” Claims

The FTC finalized a consent order with credit services company Credit Karma, LLC to resolve allegations that the company violated the FTC Act by misrepresenting to consumers that they have been “pre-approved” for third-party financial products when they had not. According to the complaint, Credit Karma utilized its website, mobile app, and email marketing campaigns…

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Crypto Company Nexo Pays over $24 Million to States to Settle Registration Status Allegations

New York AG Letitia James and securities regulators from nine other states announced a settlement with cryptocurrency companies Nexo Inc. and Nexo Capital Inc. (collectively, “Nexo”) for up to $24 million to resolve allegations that Nexo engaged in the unregistered offer and sale of securities and misrepresented its registration status to investors. According to the…

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AG Coalition Accuses Proxy Advisors of Prioritizing Environment, Diversity over Financial Gain for Clients

A group of 22 AGs wrote a letter to proxy advisory firms International Shareholder Services, Inc. (ISS) and Glass, Lewis & Co. accusing the companies of potentially violating federal and state laws regarding the advice and duties of proxy advisors, as well as the companies’ contracts with states’ investment vehicles, by considering factors related to…

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CFPB Proposes Registry of Terms and Conditions in Consumer Financial Form Contracts

The CFPB has proposed a rule that aims to protect consumers from fine print in non-negotiable contracts with nonbanks that provide consumer financial services. The proposed rule would require nonbanks that are subject to CFPB jurisdiction to submit certain terms and conditions in their form contracts for consumer financial products and services to a public…

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