The financial news that actually matters
The Banking & Regulation section covers major updates in banking systems, financial regulations, account policies, and institutional changes. It explains how banks operate, how new rules affect consumers, and what policy changes mean for everyday financial decisions.
The Securities and Exchange Commission on August 27, 2026, charged 38 entities with making false statements in adviser filings to pose as legitimate U.S. investment advisory firms and lure retail investors. The SEC alleges the entities filed Forms ADV between 2025 and 2026 listing Colorado business addresses where they had no presence, phone numbers that…
The Securities and Exchange Commission on September 10, 2026, charged Ernest Ossei Boateng, a 44-year-old founder from Pittstown, New Jersey, and two New Jersey-based companies he controls, Intercontinental Wealth Network LLC and I Wealth Network LP, with running an alleged $16 million Ponzi scheme. The SEC says Boateng raised the money from more than 200…
California Attorney General Rob Bonta announced on September 21, 2026, that Maki Martinez-Gruninger pleaded guilty to a felony Medi-Cal fraud charge and will serve two years in state prison. State investigators found that she took more than $400,000 from California by secretly enrolling as the paid in-home caregiver for a disabled family member, while another…
Consumers who paid inflated prices for certain generic prescription drugs can now file claims for a share of more than $96 million that state attorneys general collected from four drug manufacturers accused of colluding to raise prices. New York Attorney General Letitia James and 47 other attorneys general announced on Sept. 22 that the U.S….
A Washington dentist whose practice treated many elderly and disabled patients was sentenced September 17 to two years in federal prison for a scheme that took more than $3.4 million from D.C. Medicaid. Steven A. Price, 70, who operated the Washington Smile Center in Northwest Washington, was also ordered to repay $3.4 million to the…
A registered nurse from Bowie, Maryland, pleaded guilty September 17 to a health care fraud conspiracy tied to a $14 million scheme that billed D.C. Medicaid for youth mental health services that were never provided or were grossly inflated. Vera Nyiawung, 34, entered the plea in federal court in Washington to one count of conspiracy…
Methodist Hospital in San Antonio, Texas, received at least $12.4 million in Medicare overpayments during 2020 and 2021, federal auditors said in a report posted September 17. The Department of Health and Human Services Office of Inspector General (HHS-OIG) found that 27 of 100 sampled inpatient and outpatient claims did not fully meet Medicare billing…
A Fort Washington, Maryland, man will spend eight months in federal prison for collecting more than $270,000 in Social Security disability benefits while he ran two cleaning companies, federal prosecutors said. U.S. District Judge Lydia K. Griggsby sentenced Andrew Langford, 50, in Greenbelt on September 1, 2026, and ordered three years of supervised release to…
A federal grand jury in North Texas has charged three members of a family that ran unlicensed boarding homes with lying to mortgage lenders after allegedly taking control of a 79-year-old resident’s longtime Garland home, selling it to two of themselves and funneling more than $156,000 of the proceeds through several accounts. The indictment, returned…
Five men have been indicted in federal court in Seattle on charges that they laundered more than $7.4 million taken from at least 77 victims across the country through tech-support scams and schemes in which callers impersonated government or bank officials. The U.S. Attorney’s Office for the Western District of Washington announced the indictment on…