SEC Lead story
Wells Fargo Settles $110M Discrimination Suit
Wells Fargo agreed to a $110M discrimination settlement. The $100M goes to a new mortgage fund, not to the Black homeowners turned away in 2020.
By Marcus Webb May 19, 2026
Live Wire
Your morning brief Updated 45 min ago
The ninety-second read-through for today.
Morning Brief — May 20, 2026. Regulators issued fines and preemption rules that open new legal fights, five FDA leaders exited in a week, and a poisoned developer tool exposed thousands of internal repositories. Compliance teams face simultaneous upheaval across finance, healthcare, and software supply chains.
California regulators issued a first-ever Yotta penalty of $1M, but 18,000 state customers still awaiting Synapse restitution call the fine a rounding error against their missing millions.
FDA's five departing leaders, starting with Makary, exited in a single week; biotech is lobbying for Richard Pazdur as the next commissioner while the White House has not responded.
TeamPCP weaponized a poisoned VS Code extension to pull approximately 3,800 internal GitHub repositories, which now appear listed for sale on criminal forums.
The OCC's May 15 final rules override interest-on-escrow laws across 14 jurisdictions, though circuit splits in the First and Ninth Circuits keep legal challenges alive.
Wells Fargo's $110M discrimination settlement routes $100M into a new mortgage fund — not directly to the Black homeowners who were turned away in 2020.
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SEC Clears Methode Electronics After Dual Subpoenas
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Resigned: Makary, Four FDA Leaders Out in a Week
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Oorja Bio Banks $30M on IPF Drug ORJ-001
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Commure Raises $70M at $7B, Targets $1T Market
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Paid $1.4B for Sac-TMT, Merck Gets Phase 3 Win
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Cut Out: SEC Token Exemption Bypasses Stock Issuers
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Colorado Rewrites AI Law: What Operators Owe by Jan 2027
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SEC Kills 50-Year Settlement Gag Rule
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Cut Ring-Fence Rules: UK Treasury Frees £80B
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CISA Contractor Leaked GovCloud Keys on GitHub
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Stole 1.8M Fingerprints in NYC Hospital Breach
NYC's largest public health system had fingerprints and palm prints stolen, covering 1.8M people, with no explanation for why it stored biometrics.
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Judge Fines Cliq $6.5M Over 2015 FTC Order
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