Malvern, PA

The directors of crypto-friendly Customers Bancorp and its subsidiary Customers Bank, headquartered in Malvern, Pennsylvania, will polish their writing skills over the next two months in preparation for an enforcement action the United States Federal Reserve Board executed against them. Customers Bank did not do well on “recent examinations and...

Customers Bank to strengthen AML compliance after Fed scrutiny

PYMNTS

A recent enforcement action by the Federal Reserve taken against Customers Bancorp and its Customers Bank subsidiary has taken note of the risks and challenges inherent in handling digital assets — and faster payments, too. In the action, announced on Thursday (Aug. 8) and signed by the parties this...

Fed Enforcements Now Focus on Instant Payments and Tokens

A Wells Fargo executive has been ordered to leave the banking industry after draining tens of thousands of dollars from customer deposit accounts. The Office of the Comptroller of the Currency (OCC) is issuing a consent order against ex-Wells Fargo operations associate manager Cindy M. Flores for violating laws and engaging in unsafe and unsound practices.

$47,646 Drained From Customers’ Accounts at Wells Fargo As Rogue Executive Mounts Year-Long Campaign To Steal Cash: US Bank Regulator

In a Wednesday interview with CNBC's Jim Cramer, CVS CEO Karen Lynch said she is taking responsibility for the company's Aetna insurance business after the most recent quarter missed expectations. "I'm taking direct ownership and am going to focus on the financial and operational execution of that business," she said.

CVS CEO says she's 'taking direct ownership' to fix Aetna insurance business

Variety


				













	The Justice Department sued TikTok and parent company ByteDance, alleging the popular video app repeatedly violated the U.S.’s Children’s Online Privacy Protection Act and related regulations.'House of the Dragon' Season 2 Finale Leaks on TikTok and Twitter/X, HBO Blames 'International Third-Party Distributor'




	The DOJ, together with the FTC, on Friday (Aug. 2) filed the civil lawsuit in the U.S. District Court for the Central District of California against TikTok, ByteDance and their affiliates. According to the complaint, from 2019 to the present, TikTok “knowingly permitted children to create regular TikTok accounts and to create, view and share short-form videos and messages...

TikTok Sued by U.S. Justice Department for Allegedly ‘Knowingly and Repeatedly’ Violating Child Data Privacy Law

New York State

On July 19, we blogged about comments Acting Comptroller Hsu made before the Exchequer Club on July 17 particularly his decision to review prior OCC preemption determinations in light of the Supreme Court’s recent opinion in Cantero v. Bank of America reversing the Second Circuit’s holding that a New York State law which requires the payment of 2% interest on mortgage escrow accounts is preempted because such law exercises control over a federal power, regardless of the magnitude of its effects. Cantero, 144 S. Ct. at 1296. According to the Supreme Court, the Second Circuit’s approach did not comply with the Dodd-Frank Act because, instead of conducting a “nuanced comparative analysis,” the Second Circuit “relied on a line of cases going back to McCulloch v. Maryland to distill a categorical test that would preempt virtually all state laws that regulate national banks, at least other than generally applicable laws such as contract or property laws.” Id at 1301.

Acting Comptroller Hsu pressured to repeal preemption regs by Conference of State Bank Supervisors and consortium of consumer groups

An address connected to 2022’s Nomad Bridge exploit transferred 14,500 ether to Tornado Cash. This suggests the perpetrator could be looking to cash out. An address associated with the exploitation of Nomad Bridge transferred 14,500 ether — worth roughly $35.2 million — of the stolen cryptocurrency to controversial crypto mixer Tornado Cash, according to blockchain security company PeckShield's alerts-focused account on X.

Address tied to Nomad Bridge exploit transfers $35 million in ether to Tornado Cash: PeckShield

The IRS seems to have updated its crypto brokerage tax form to remove requests for digital wallet addresses, among other information. Form 1099-DA is slated to go at least partially into effect in 2025. The United States Internal Revenue Service has updated the draft of its crypto taxation form 1099-DA...

IRS updates crypto brokerage tax form, appears to remove request for wallet addresses

The USDA announced changes to the Farm Service Agency’s Farm Loan Programs that take effect on September 25, 2024. The changes are intended to increase opportunities for farmers and ranchers to be financially viable. These improvements are part of the Enhancing Program Access and Delivery for Farm Loans rule.

USDA Updates Farm Loan Programs

Getting your Trinity Audio player ready... A lawmaker in the United States has introduced a new bill to promote blockchain integration in the Department of Veteran Affairs (VA). The bill by Rep. Nancy Mace (R-SC) directs the VA to study the power of blockchain technology and how it can be...

New bill pushes blockchain use in US Veterans Affairs

Camden, NJ

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Cornelius, NC

Morristown Minute

CAMDEN, N.J. – Lisa Smith, 61, of Cornelius, North Carolina, has admitted to her role in a fraudulent scheme involving over $3.5 million in Paycheck Protection Program (PPP) loans. U.S. Attorney Philip R. Sellinger announced today that Smith pleaded guilty before U.S. District Judge Karen M. Williams in Camden federal court on July 17, 2024, to a charge of bank fraud conspiracy.

Woman Pleads Guilty to $3.5M COVID Relief Scam

Irvine, CA

NewSantaAna

On June 27, a pair was spotted roaming hospitals on Alton Parkway , where multiple victims reported their wallets had been stolen, according to the Irvine Police Department . The victims later found fraudulent charges on their bank accounts, including transactions at the Target on Jamboree Rd.

Two suspects stole wallets at Irvine hospitals then used the credit cards at a Target store

Denver, CO

David Heitz

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

Alabama State

Mississippi State

Reuters’ Leah Douglas reported Wednesday that “the U.S. Department of Agriculture said on Wednesday it has issued $2 billion of financial assistance to more than 43,000 farmers, ranchers and forest landowners who experienced past discrimination in the agency’s farm lending programs.”. “The Inflation Reduction Act allocated $2.2...

USDA Providing $2 Billion In Discrimination Payments

Florida State

Uncovering Florida

With hurricane season posing a consistent threat six months out of the year, who would not like a little help getting their home ready for the harsh weather to come? Senate Bill 7028: My Safe Florida Home Program, approved by Governor DeSantis on April 24, 2024, and effective as of July 1, appropriates a one-time total of $200 million from 2024 to 2025 for the purpose of funding hurricane mitigation grants and inspections, as well as outreach and administration costs, to support homeowners in Florida.

DeSantis Signs New Bill Giving $200 Million To Homeowners

Most people are guilty of doing it at least once in their lives, many people do it by accident, some do it because they find it fun, and others do it for reasons like honoring loved ones. Regardless of the situation, just about everyone has released a balloon. The difference is that intentionally releasing balloons is now illegal by House Bill 321’s standards.

Law Signed By DeSantis Makes It Illegal To Release Balloons In Florida

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NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

Pump.fun has removed the token deployment cost for creators and now offers a reward of 0.5 SOL ($80) when their tokens cross the bonding curve. Solana-based memecoin launchpad Pump.fun is eliminating token deployment costs and rewarding token creators with 0.5 SOL ($80) when their tokens cross the bonding curve. The...

Pump.fun shifts token deployment fees to first buyers, will pay creators 0.5 SOL on bonding curve completion

On Wednesday​,​ July 31​,​ ​the ​U​.​S​. ​D​epartment of ​A​griculture (USDA)​ announced the transmittal of over $2 billion in funds to over 43,000 agriculture producers and forest landowners who had experienced discrimination by USDA prior to 2021. The ​Discrimination Financial Assistance Program (DFAP)​, authorized by the Section 22007 of the Inflation Reduction Act (IRA) passed by Congress in 2021, paved the way for this important program to emerge.

USDA announced the transmittal of over $2 billion in funds to over 43,000 agriculture producers and forest land owners who had experienced discrimination by USDA prior to 2021

Missouri State

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CJ Coombs

Denny's was once a staple of the American diner landscape. In recent years, it has had its ups and downs, especially post-pandemic. The dining habits of people also change. Some customers have a more discerning taste.

Denny's: a legacy of serving customers for over 65 years including 27 locations in Missouri

NewsBreak

Federal Reserve spots 'significant deficiencies' connected to Customers Bancorp risk management and AML requirements

The central bank also asked Customers Bancorp to submit an amended customer due diligence program that it says should include documents to verify customers’ identity, among...

Federal Reserve spots 'significant deficiencies' connected to Customers Bancorp risk management and AML requirements

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