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Results: 1-10 of 205

New York DFS Pursues $630 Million Fine Against Bank for Anti-Money Laundering and Sanctions Compliance Failures
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • August 30 2017

On August 28, 2017, the New York State Department of Financial Services (“DFS”) announced a “Notice of Hearing and Statement of Charges” that seeks to


OFAC Breaks New Ground By Penalizing Non-U.S. Companies for Making U.S. Dollar Payments Involving a Sanctioned Country
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • July 28 2017

On July 27, 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced a $12 million settlement with CSE Global Limited


CFPB Adopts a Ban on Arbitration Clauses that Prevent Class Action Litigation
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • July 19 2017

Today, the Consumer Financial Protection Bureau (CFPB) published a 225-page final rule in the Federal Register that will prohibit a variety of


Treasury Issues Report Outlining Reforms to U.S. Banking Regulation
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • June 20 2017

On June 12, the U.S. Department of the Treasury issued the first of four reports to President Trump (the “Report,” available here) in response to the


The OCC Issues “Lessons Learned” Review of its Supervision of Sales Practices at Wells Fargo
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • April 21 2017

On April 19, 2017, the Office of the Comptroller of the Currency (“OCC”) released its “Lessons Learned Review of Supervision of Sales Practices at


Lessons Learned from the Wells Fargo Sales Practices Investigation Report
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • April 18 2017

On April 10, 2017, a committee of independent directors of Wells Fargo released a 110-page report on the results of an investigation into the root


Supreme Court Bars Use of Nonconsensual Priority-Violating Structured Dismissals
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • March 24 2017

On March 22, 2017, the United States Supreme Court held that bankruptcy courts cannot approve a “structured dismissal”a dismissal with special


The Regulatory and Enforcement Outlook for Financial Institutions in 2017: Trends in Sanctions, Anti-Money Laundering and Cybersecurity
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • February 22 2017

Economic sanctions, anti-money laundering and cybersecurity remain at the forefront of U.S. regulatory priorities. In this memorandum, we survey major


Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • USA
  • January 18 2017

On January 17, 2017, the Court of Appeals for the Second Circuit issued its long-anticipated opinion in Marblegate Asset Management, LLC v. Education


Reported Foreign Exchange Restrictions in China Affect Outward Remittances
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • China
  • December 20 2016

In late November and early December 2016, Chinese and international media reported on enhanced enforcement of outbound investment and foreign exchange