Deals
Mastercard Bills Processors Half of $997M Brazil Loss
Mastercard paid half of Brazil's $997M Will Bank tab and wants processors to cover the rest. Cielo says acquirers never owned the risk.
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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.
AI
Cleared: Doctronic AI Renews 192 Utah Rx Drugs, No Incidents
Utah's AI prescription pilot hit 5 months with zero serious incidents, but the state medical board wants it suspended before Phase 2.
Legal
Moolenaar Targets $15.2B BMS Deal in China Crackdown
If Treasury acts on Moolenaar's COINS Act request, deals like BMS's $15.2B Hengrui partnership would need federal clearance before closing.
Legal
Fed Proposes FinTech Payment Accounts Capped at $1B
The Fed's new payment account category hands FinTechs direct settlement access while stripping interest, discount window, and intraday credit.
FDA
Ousted: RFK Jr. Ends Makary's 13-Month FDA Tenure
Makary's 13 months at the FDA ended May 12 over a flavored-vape standoff, with food deputy Kyle Diamantas now acting commissioner.
Legal
FDIC Files Third GENIUS Act Rule: BSA for Stablecoins
FDIC's third GENIUS Act NPRM adds AML/CFT rules to stablecoin issuers, completing a compliance stack that changes who can enter the market.
Legal
Trump Mobile Exposed Customer Data, Stalls on Notification
Trump Mobile confirmed a customer data exposure linked to a third-party provider, then said it's still weighing whether to notify those affected.
Legal
C.A. Cloud Execs Plead Guilty to Tech Fraud Cover-Up
C.A. Cloud's CEO and CSO pleaded guilty to concealing a five-year fraud scheme that funneled calls to scammers targeting elderly victims worldwide.
Legal
FTC Hits Cox Media With $880K for Fake AI Ads
Cox Media Group's "Active Listening" AI never used voice data; the FTC's $880K settlement shows it was email lists at markup. Small businesses paid.
FDA
CHMP Backs Camizestrant After ODAC's 3-6 No Vote
CHMP backed camizestrant for ER+/HER2- breast cancer as ODAC voted 3-6 against. Europe and the US disagree on trial design, not the drug's efficacy.
FDA
Gilead Wins Hepcludex Nod Four Years After FDA Rejection
Gilead's Hepcludex wins US approval four years after a manufacturing CRL, becoming the first treatment for HDV in a market of up to 80,000 patients.
FDA
FDA Clears Datroway First-Line TNBC
FDA cleared Datroway May 22 for first-line metastatic TNBC, backed by a $1B upfront AZ bet and a $5B peak sales target, first to beat chemo on OS.
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.
