US officials said that drug traffickers for Mexico's Sinaloa cartel chose to launder money through Citi.
Legal & Regulatory
FTC and Arise Virtual Solutions Agree to $7 Million Settlement for Misleading Gig Workers
The FTC has settled with Arise Virtual Solutions, requiring the company to pay $7 million for misleading gig workers about potential earnings and unlawfully requiring them to cover expenses.
FTC Blocks Tempur Sealy's Acquisition of Mattress Firm Over Competition Concerns
The Federal Trade Commission has voted to prevent mattress maker Tempur Sealy from acquiring retail chain Mattress Firm, citing concerns that the merger would stifle competition.
FDA Approves Eli Lilly's Alzheimer’s Drug Donanemab, Expanding US Treatment Options
The FDA has approved Eli Lilly’s Alzheimer’s drug donanemab, branded as Kisunla, for early symptomatic adults, providing a new treatment option for nearly 7 million Americans affected by the disease.
Fintech Bankruptcy Locks Out 100,000 Americans With $265 Million in Deposits
The collapse of Synapse has left over 100,000 Americans with $265 million in deposits frozen since May 11, exposing flaws in fintech's reliance on third-party banking partnerships and prompting urgent calls for resolution from lawmakers.
Latest News
A federal judge has dismissed a lawsuit filed by several Massachusetts cannabis businesses seeking to challenge the existing federal prohibition on marijuana.
A federal judge in Louisiana has blocked the administration of President Joe Biden from pausing the approvals of liquefied natural gas (LNG) export applications.
Upside Foods announced that they were letting go of 26 of its staff and restructuring its executive and leadership teams to delegate processes more directly to staff due to legislative, regulatory, and financial issues.
Kanye West, now known as Ye, and his Yeezy brand are facing a lawsuit filed by eight former employees alleging harassment and discrimination.
A federal appeals court has permitted the US Education Department to implement a plan reducing monthly student loan payments.
Silvergate Bank agreed to pay $63 million to settle state and federal investigations following the collapse of crypto exchange FTX.
Thames Water, Britain's largest water supplier, faces investigation after approving a £150 million ($198 million) dividend despite losing £500 million in pledged funding and debts.
The European Commission alleged that Meta violated digital laws under the Digital Markets Act (DMA) with its subscription-based ad-free model, and $13.5 billion in fines could be imposed.
Activists and the Information Commissioner's Office criticized the Environment Agency of England for refusing to disclose potential conflicts of interest among its directors related to water companies.
