Legal
Fined $104M, AT&T and Verizon Lose at Supreme Court
The Supreme Court's 8-1 ruling upholds $104M in FCC fines against AT&T and Verizon for selling real-time location data to bounty hunters.
Masthead · Financial Regulation Writer
Marcus Webb
New York · Joined January 2026
Financial journalist, ex-Reuters. Wrote his first economics piece at age 10 — on how math shapes a state's economy. Invests in Bitcoin. New York.
Stories filed
31
This year
31
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1 min
Joined
2026
Stories by Marcus
FDA
How to Respond to an FDA Form 483 in 15 Days
The FDA's first 483-response guidance sets a 15-day clock and wants risk assessments. Miss the window and you invite a warning letter.
FDA
Form 483 vs Warning Letter: What's the Difference
One is field notes from an FDA inspector. The other is the agency's formal legal escalation. Confuse them and you mishandle both.
SEC
Filed: CFTC's Prediction Market Rule Under OMB Review
CFTC's formal prediction market rule is now in White House hands: 3,534 comments in, four state lawsuits filed, and the text still secret.
SEC
OCC Hits Wise, Crypto.com Partner Bank on AML
Wise and Crypto.com's U.S. sponsor bank got an OCC consent order after its AML system was auto-closing alerts that should have triggered SARs.
SEC
FFIEC Cuts Management's Clout in 30-Year CAMELS Rewrite
The FFIEC just stripped Management's veto over composite bank ratings for the first time since 1996. The comment window closes August 17.
SEC
Warren Demands Fed Revoke Morgan Stanley Exemption
Warren gave the Fed, OCC, and FDIC until June 3 to justify a Morgan Stanley exemption she says diverts U.S. deposits to fund a German bank.
SEC
Goldman Paid $500M to End 1MDB Shareholder Suit
Goldman's $500M shareholder settlement adds to a $7.5B total 1MDB bill, or 12x the $600M in fees the bank collected for that deal.
SEC
CFPB Narrows 1071 to $1M Threshold, 2028 Deadline
The CFPB's revised 1071 Rule cuts the small-business revenue ceiling to $1M, drops key demographic data, and pushes compliance to 2028.
AI
Apple Stopped $2.2B in App Store Fraud in 2025
Apple stopped $2.2B in App Store fraud in 2025, rejected 1.1 billion fake account creations, and now sits at $11.2B blocked over six years.
SEC
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.
SEC
Cut Out: SEC Token Exemption Bypasses Stock Issuers
The SEC's 'innovation exemption' would let platforms tokenize Apple shares without issuer consent, and there's no limit on duplicate wrappers.
SEC
SEC Kills 50-Year Settlement Gag Rule
Chairman Atkins just gave every company fighting an SEC enforcement action a new weapon: the right to publicly deny while still settling.
SEC
CFPB Drops Disparate Impact in 3-Part ECOA Overhaul
CFPB just scrapped disparate impact under ECOA, but mortgage lenders and state AGs in New York, New Jersey, and Massachusetts won't play along.
SEC
Ran First: SVB's $49M Depositors Led 2023 Bank Runs
FDIC's transaction-level data shows the $49M-threshold depositors who drained SVB in six days, and they ran at Signature and First Republic too.
SEC
Hunts Polymarket Insiders With AI: CFTC
CFTC chairman Selig says the agency is chasing hundreds of insider trading tips on prediction markets, with AI surveillance tools now live.
SEC
Cuts Cases: SEC's Woodcock Goes Quality Over Quantity
SEC enforcement chief Woodcock commits to quality over quantity, signaling that borderline inquiries could quietly fall off the agency's docket.
SEC
Judge Orders Musk, SEC to Explain $200M Deal
A federal judge wants answers on how Musk's SEC deal was reached, why it uses a trust, and whether White House meddling tainted the process.
SEC
Killed Citi's $24.5M CFPB Order 3 Years Early
CFPB killed Citi's Armenian discrimination order three years early. Vought told Congress the $24.5M fine was 17x the actual redress.
SEC
Caught: 140 Sham Deals Expose Telkom Indonesia to SEC, DOJ
Telkom Indonesia's 140 sham transactions have drawn both SEC and DOJ scrutiny, spanning revenue recognition, internal controls, and FCPA compliance.
SEC
CFPB Strips ECOA Disparate Impact, July 21
The CFPB's April 2026 ECOA rule kills disparate impact for credit cards and auto loans, but leaves mortgage lenders still exposed under the FHA.
SEC
CFPB Cuts Lender Data Rule: 2,500 to 280
$166 million in annual compliance savings sounds like a win.
SEC
OCC Clears JPMorgan's $250M Trade Surveillance Order After 2 Years
$348.2 million later, the OCC decided JPMorgan Chase has done enough.
SEC
FDIC, OCC Bar Reputation Risk as Debanking Basis Starting June 6
The FDIC and OCC just banned reputation risk as a basis for bank supervision.
Legal
FDIC Proposes 191-Page Stablecoin Rule, Blocking Pass-Through Insurance
The FDIC proposed a 191-page Genius Act stablecoin rule Tuesday, its second under the Act.
SEC
Paid $2.4M to SEC: VC Fund Chief Settles Investor Fraud Claims
Nearly $2.4 million is the price a Florida-based VC fund chief agreed to pay the SEC to settle fraud claims.
SEC
Sue First: FCA Draws a Line on Car Finance Redress
Nikhil Rathi warned claims firms and law firms over the tension between car finance litigation and the FCA's redress scheme.
SEC
FinCEN and OFAC Propose Stablecoin AML and Sanctions Rules
Treasury's FinCEN and OFAC issued a joint proposed rule placing every U.S. stablecoin issuer under AML and sanctions compliance.
SEC
SEC Names Woodcock to Head 1,000-Person Enforcement Division
SEC Chairman Paul Atkins taps Gibson Dunn securities partner David Woodcock to lead the 1,000-person Enforcement Division, effective May 4, 2026.
SEC
SEC's FY2025 Enforcement Take Was $2.7B, Not $17.9B
The SEC's FY2025 enforcement haul drops to $2.7B once you strip the Stanford Ponzi and parallel criminal proceeds from the $17.9B headline.
SEC
SEC Paid $50M+ to One Whistleblower for Early Enforcement Tip
The SEC paid one whistleblower $50M+ for an early tip that triggered an enforcement action, implying at least $167M in underlying sanctions.
