Financial Services Litigation

New York Attorney General (AG) Letitia James filed a lawsuit on March 5 against Yellowstone Capital, its founder David Glass, and a network of 30 other affiliated companies and individuals. James alleges that Yellowstone Capital, acting through a myriad of different company names, engaged in an orchestrated predatory lending scheme. James’ lawsuit is among a wave of recent enforcement actions targeting alleged deceptive financial practices.Continue Reading New York AG Sues Yellowstone Capital Over Alleged “Fraudulent Loans” Targeting Small Businesses

On October 16, the Securities and Exchange Commission’s Division of Examinations (the Division) released its 2024 Examination Priorities report. The report highlights that future examinations will focus on “risk areas impacting various market participants,” emphasizing risks posed by products and services: (1) related to cryptocurrency; and (2) that leverage emerging technology. In addition, the report indicates that examinations will focus on market participants’ compliance with Anti-Money Laundering (AML) laws.

Continue Reading SEC Targets Cryptocurrency, Emerging Technologies, and Anti-Money Laundering for 2024 Examination Priorities