Federal Regulatory Agencies
Here's a look at documents from federal regulatory agencies
Featured Stories
SEC Charges Firm, Its Principal, Its Escrow Attorney for Allegedly Defrauding Investors Through Purported High-Yield Investment Program
WASHINGTON, April 9 -- The Securities and Exchange Commission issued the following litigation release (No. 8:26-cv-00993; M.D. Fla. filed Apr. 7, 2026):
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Securities and Exchange Commission v. Gianoplus Consortia LLC, et al., No. 8:26-cv-00993 (M.D. Fla. filed Apr. 7, 2026)
On April 7, 2026, the Securities and Exchange Commission filed charges against Sarasota, Florida resident Michael Peter Gianoplus, the entity he controls, Gianoplus Consortia LLC a/k/a Gianoplus Consortia, LLC, and Houston, Texas resident Traci Leigh Bransford-Marquis for their roles in allegedly defrauding investors
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WASHINGTON, April 9 -- The Securities and Exchange Commission issued the following litigation release (No. 8:26-cv-00993; M.D. Fla. filed Apr. 7, 2026):
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Securities and Exchange Commission v. Gianoplus Consortia LLC, et al., No. 8:26-cv-00993 (M.D. Fla. filed Apr. 7, 2026)
On April 7, 2026, the Securities and Exchange Commission filed charges against Sarasota, Florida resident Michael Peter Gianoplus, the entity he controls, Gianoplus Consortia LLC a/k/a Gianoplus Consortia, LLC, and Houston, Texas resident Traci Leigh Bransford-Marquis for their roles in allegedly defrauding investorsin a purported high-yield investment program ("HYIP") offered through Gianoplus Consortia, which raised more than $6 million from at least eight investors.
According to the SEC's complaint, the HYIP claimed to provide investors with access to exclusive overseas platforms trading obscure financial instruments with the promise of extraordinary short-term profits. As alleged, Gianoplus developed the HYIP and personally sourced the investments and Bransford-Marquis served as the escrow attorney and paymaster. The complaint alleges that Gianoplus Consortia's agreements with investors stated that investors' principal funds would be returned after the program concluded, and those funds would be "protected" in Bransford-Marquis's attorney trust accounts. The complaint further alleges that the investor agreements stated that defendants would be compensated from the profits of the program, but, although the program did not generate any profits during the relevant period, defendants nevertheless misappropriated in excess of $2.4 million in principal funds from investors, in direct contravention of the agreements.
The SEC's complaint, filed in the U.S. District Court for the Middle District of Florida, charges Gianoplus Consortia, Gianoplus and Bransford-Marquis with violating Sections 17(a)(1) and (3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder.
The SEC's investigation was conducted by Jason Anthony, Michael Flanagan, and Zachary Scrima and was supervised by Paul Pashkoff. The SEC's litigation will be led by Patrick Costello and supervised by David Nasse.
The SEC's Office of Investor Education and Advocacy has issued investor alerts on the red flags of investment fraud. Additional information is available on Investor.gov.
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Resources
* SEC Complaint (https://www.sec.gov/files/litigation/complaints/2026/comp26522.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26522
FCC to Ensure Integrity and Security in Electronic Device Testing
WASHINGTON, April 9 -- The Federal Communications Commission issued the following news release on April 8, 2026:
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FCC to Ensure Integrity and Security in Electronic Device Testing
Proposed Rules Would Prohibit Using Labs in Countries Without Reciprocal Agreements
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Today, FCC Chairman Brendan Carr announced that the Commission will vote on new rules to ensure integrity, security, and reciprocity in electronic device testing. The proposed rules, which will be voted on at the Commission's next monthly meeting, follow on the FCC's actions against "Bad Labs" and would prohibit the recognition
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WASHINGTON, April 9 -- The Federal Communications Commission issued the following news release on April 8, 2026:
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FCC to Ensure Integrity and Security in Electronic Device Testing
Proposed Rules Would Prohibit Using Labs in Countries Without Reciprocal Agreements
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Today, FCC Chairman Brendan Carr announced that the Commission will vote on new rules to ensure integrity, security, and reciprocity in electronic device testing. The proposed rules, which will be voted on at the Commission's next monthly meeting, follow on the FCC's actions against "Bad Labs" and would prohibit the recognitionof test labs and certification bodies in foreign countries that have not signed agreements to recognize American test labs and certification bodies. Before these proposed rules can be finalized, the FCC will also vote to adopt a streamlined approval process for devices tested in U.S. labs or labs in reciprocal countries.
Chairman Brendan Carr issued the following statement:
"President Trump has revolutionized America's approach to the world by putting reciprocity at the heart of our international commercial relations. Today, more than 75% of testing occurs in countries that have refused to commit to reciprocal treatment of U.S.-based labs and certification bodies. This month, the FCC will begin the process to end this unfair system."
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Additional Background Information:
Last year, the FCC unanimously adopted rules to prohibit the recognition of test labs and certification bodies owned or controlled by foreign adversaries. Since those rules were adopted, the FCC has taken action to withdraw recognition from, or deny recognition to, twenty-three "Bad Labs" that threatened U.S, national security. This month's Order and Notice of Proposed Rulemaking (NPRM) is an important next step.
For decades, the FCC only allowed device testing and certification in the U.S. or foreign countries with Mutual Recognition Agreements (MRAs) with the U.S. guaranteeing reciprocal treatment. The Obama Administration abandoned this commitment to reciprocity in 2015, allowing testing and certification to happen anywhere in the world, regardless of the country's commitment to reciprocity.
Testing in such foreign labs undermines FCC oversight and enforcement, threatening the reliability, integrity of the equipment authorization process, which is critical to national security.
The NPRM to be voted on this month proposes to prohibit recognition of all test labs and certification bodies in countries that lack either an MRA with the U.S. or other comparable reciprocal trade agreement. These labs would be phased out over two years. In the meantime, the Order the FCC will vote on this month would create a fast-track priority review process for devices tested in trusted test labs - namely those located in the United States or reciprocal international locations. The Order would also adopt a range of other measures to promote the integrity of the equipment authorization system: require the disclosure of the location and number of employees engaged in FCC-recognized testing, improve the FCC's post-market surveillance procedures, strengthen enforcement mechanisms, and establish confidential reporting channels for industry participants to raise concerns about violations or national security threats.
The public draft of the proposed Report and Order and NPRM, which will be voted on at their April 30 Open Meeting, will be made available tomorrow at: https://www.fcc.gov/April2026.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-420693A1.pdf
Personnel Staffing, Inc. to Pay $155,000 in EEOC Sex Discrimination Charge
WASHINGTON, April 8 -- The Equal Employment Opportunity Commission issued the following news release:
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Personnel Staffing, Inc. to Pay $155,000 in EEOC Sex Discrimination Charge
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Staffing agency settles federal charge alleging unlawful sex discrimination against female temporary workers
BIRMINGHAM, Ala. - Personnel Staffing Inc., an agency providing staffing services in more than 15 states across the southeastern U.S., will pay $155,000 to a class of female employees, conciliating an investigation by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced
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WASHINGTON, April 8 -- The Equal Employment Opportunity Commission issued the following news release:
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Personnel Staffing, Inc. to Pay $155,000 in EEOC Sex Discrimination Charge
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Staffing agency settles federal charge alleging unlawful sex discrimination against female temporary workers
BIRMINGHAM, Ala. - Personnel Staffing Inc., an agency providing staffing services in more than 15 states across the southeastern U.S., will pay $155,000 to a class of female employees, conciliating an investigation by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announcedtoday.
The EEOC's investigation found that Personnel Staffing discriminated against a class of female workers between Aug. 14, 2020 and Aug. 1, 2023, based on their sex, when the company failed to refer female temporary workers to TCI of Alabama, LLC, at its Pell City, Alabama location, based on TCI's sex-biased request for male-only laborers.
"A reminder to employers: Title VII makes it unlawful for an employer to fail or refuse to hire an individual or otherwise treat them differently because of their sex. Staffing agencies can violate Title VII if they comply with a client company's discriminatory request," said Bradley A. Anderson, director of the EEOC's Birmingham District Office. "We commend Personnel Staffing, Inc. for its cooperation and undertaking measures to ensure that its employees are not treated differently based on their sex in the future."
Personnel Staffing's compliance with TCI's discriminatory request violated Title VII of the Civil Rights Act of 1964.
Following the EEOC's investigation, the parties engaged in the federal agency's pre-litigation conciliation process. In addition to paying monetary damages for a class of female temporary workers, Personnel Staffing agreed to revise and disseminate its anti-discrimination policy instructing employees about their rights and how to report discrimination; train its managers and employees on discrimination and retaliation annually, and provide other injunctive relief to prevent discriminatory or retaliatory conduct from occurring in the future.
The EEOC previously brought and settled a lawsuit charging TCI with retaliation and continues to prosecute two related enforcement actions - a related lawsuit the agency filed against TCI in January 2025 (EEOC v. TCI of Alabama, LLC, Civil Action No. 4:25-cv-00089-SGC) as well as a sex discrimination case filed against WorkSmart (EEOC v. WorkSmart Staffing, LLC, Civil Action No. 4:25-cv-01659-SGC) in September 2025.
For more information on sex-based discrimination, please visit https://www.eeoc.gov/sex-based-discrimination.
The EEOC's Birmingham District Office has jurisdiction over Alabama, Mississippi (except 17 northern counties) and the Florida Panhandle.
The EEOC is the sole federal agency authorized to investigate and litigate against businesses and other private sector employers for violations of federal laws prohibiting employment discrimination. For public sector employers, the EEOC shares jurisdiction with the Department of Justice's Civil Rights Division. The EEOC also is responsible for coordinating the federal government's employment antidiscrimination effort. More information about the EEOC is available at www.eeoc.gov.
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Original text here: https://www.eeoc.gov/newsroom/personnel-staffing-inc-pay-155000-eeoc-sex-discrimination-charge
FDIC Chairman Hill Issues Statement on Proposal to Implement the GENIUS Act
WASHINGTON, April 8 -- The Federal Deposit Insurance Corporation issued the following statement on April 7, 20226, by Chairman Travis Hill on the proposal to implement the GENIUS Act:
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Two years ago, I gave a speech discussing the promise of tokenization, the representation of real-world assets on a distributed ledger. As I noted at the time, "tokenization offers much more than just a shiny version of Zelle or Venmo"/1 - in other words, tokenization's value proposition isn't just about offering faster and more convenient payments. Instead, it unlocks a suite of new functionalities, including
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WASHINGTON, April 8 -- The Federal Deposit Insurance Corporation issued the following statement on April 7, 20226, by Chairman Travis Hill on the proposal to implement the GENIUS Act:
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Two years ago, I gave a speech discussing the promise of tokenization, the representation of real-world assets on a distributed ledger. As I noted at the time, "tokenization offers much more than just a shiny version of Zelle or Venmo"/1 - in other words, tokenization's value proposition isn't just about offering faster and more convenient payments. Instead, it unlocks a suite of new functionalities, includingprogrammability, atomic settlement, and immutability.
Over the past two years, we've seen tremendous progress in this area, including a rapid shift in the posture of the federal government; enactment of the GENIUS Act, which establishes a framework for the regulation of payment stablecoins; and substantial technological development by both banks and nonbanks. As a result, development of stablecoin and tokenized deposit products continues to advance, and use cases continue to multiply.
Today, the FDIC Board is considering a proposed rule to implement many provisions of the GENIUS Act, and to provide additional clarifications regarding our approach to stablecoins and tokenized deposits. The proposal would establish prudential requirements for payment stablecoin issuers that are subsidiaries of FDIC-supervised banks, including requirements related to reserve assets, redemptions of outstanding stablecoins, permissible activities, and capital, among others.
The proposal aligns in many respects with the proposed rule issued by the Office of the Comptroller of the Currency in late February./2 At the same time, today's proposal seeks comment on a range of topics, including on 144 specific questions, and we genuinely invite robust feedback on key issues in the proposal. This includes feedback on permissible (and prohibited) activities, capital requirements (for stablecoin issuers and for their parent IDIs), the FDIC's approach to pass-through insurance, and the prohibition on yield, among many other topics.
Finally, the proposed rule would reaffirm by regulation that deposits in tokenized form remain deposits under the Federal Deposit Insurance Act. I recognize there will be many other questions related to tokenized deposits from market participants beyond the clarification in the proposal, and so I encourage comments on what types of additional clarity or guidance would be useful for the FDIC to consider providing.
I would like to thank the staff for their hard work on this proposal, and I look forward to the comments.
1 Travis Hill, Banking's Next Chapter? Remarks on Tokenization and Other Issues (Mar. 11, 2024).
2 See Office of the Comptroller of the Currency, Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the Office of the Comptroller of the Currency (PDF), 91 Fed. Reg. 10202 (Mar. 2, 2026).
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Original text here: https://www.fdic.gov/news/speeches/2026/statement-chairman-travis-hill-proposal-implement-genius-act
FDIC Chairman Hill Issues Statement on Proposal to Implement the Bank Secrecy Act Program Rule
WASHINGTON, April 8 -- The Federal Deposit Insurance Corporation issued the following statement on April 7, 20226, by Chairman Travis Hill on the proposal to implement the Bank Secrecy Act program rule:
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In 2021, Congress passed the AML Act,/1 the most substantial overhaul of the Bank Secrecy Act (BSA) in a generation, and the first since the USA Patriot Act was signed into law in 2001. In the AML Act, Congress directed FinCEN and the banking agencies to, among other things, modernize the BSA, ensure that bank BSA programs focus on high-risk areas that are important to law enforcement and
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WASHINGTON, April 8 -- The Federal Deposit Insurance Corporation issued the following statement on April 7, 20226, by Chairman Travis Hill on the proposal to implement the Bank Secrecy Act program rule:
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In 2021, Congress passed the AML Act,/1 the most substantial overhaul of the Bank Secrecy Act (BSA) in a generation, and the first since the USA Patriot Act was signed into law in 2001. In the AML Act, Congress directed FinCEN and the banking agencies to, among other things, modernize the BSA, ensure that bank BSA programs focus on high-risk areas that are important to law enforcement andnational security agencies, and encourage technological innovation to more effectively counter money laundering and the financing of terrorism.
Banks currently devote enormous resources to complying with BSA requirements, while it is unclear to what extent much of that effort actually helps further law enforcement or national security efforts. Meanwhile, the risk of large fines due to BSA violations incentivizes banks to "debank" customers by denying or closing accounts.
Today, the FDIC Board is considering perhaps the most important of the reforms Congress envisioned in the AML Act. The proposal embraces a risk-based approach to supervision and would affirmatively encourage banks to allocate resources away from lower risk activities and toward higher risk activities. It would require that programs be established and effectively implemented in light of each bank's particular risk assessment and profile. Banks, notably community banks that receive little direct feedback from law enforcement, would be able to rely on the Treasury Department's "National Priorities" as they develop their risk assessments. The proposal seeks to avoid penalizing banks for "foot faults" or approaching exams as "box checking" exercises, and instead focuses on better aligning regulation with risk and avoiding having to wait until a massive failure to take action. At the same time, the proposal would still maintain the tools necessary for regulators to take action if, for example, a bank is accepting duffel bags full of cash from drug cartels or funding terrorists overseas.
I want to thank FDIC staff for their work on this proposal, along with the staffs of our interagency partners, and I look forward to receiving comments.
1 Anti-Money Laundering Act of 2020, Pub. L. No.116-283, Sec.Sec. 6001-6511, 134 Stat. 4547-4633 (2021).
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Original text here: https://www.fdic.gov/news/speeches/2026/statement-chairman-travis-hill-proposal-implement-bsa-program-rule
FCC Suspends Seven Convicted Criminals From Universal Service Fund Programs
WASHINGTON, April 8 -- The Federal Communications Commission issued the following news release on April 7, 2026:
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FCC Suspends Seven Convicted Criminals from Universal Service Fund Programs
Enforcement Bureau Moves E-Rate Program Criminals Closer to Debarment
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Today, the Federal Communications Commission suspended seven individuals from participating in the agency's Universal Service Fund programs. These individuals illegally enriched themselves through schemes to defraud the E-Rate program, including by lying in official filings with the Universal Service Administrative Company (USAC)
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WASHINGTON, April 8 -- The Federal Communications Commission issued the following news release on April 7, 2026:
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FCC Suspends Seven Convicted Criminals from Universal Service Fund Programs
Enforcement Bureau Moves E-Rate Program Criminals Closer to Debarment
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Today, the Federal Communications Commission suspended seven individuals from participating in the agency's Universal Service Fund programs. These individuals illegally enriched themselves through schemes to defraud the E-Rate program, including by lying in official filings with the Universal Service Administrative Company (USAC)and overbilling the E-Rate program. As part of the FCC's efforts to combat fraud, waste, and abuse in Universal Service Fund (USF) programs, the FCC recently voted on updates to its suspension and debarment rules that enable the agency to take quicker and more comprehensive action against wrongdoers.
Chairman Brendan Carr issued the following statement:
"The FCC is committed to stopping bad actors from defrauding our USF programs, including those that target our E-Rate program as a way to line their own pockets. We must be good stewards of federal dollars. I want to thank our federal and state law enforcement partners for their work on these cases--and the FCC's own Enforcement Bureau and Office of Inspector General for their commitment to ferreting out waste, fraud, and abuse from USF programs."
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Additional Background Information:
The FCC's Enforcement Bureau issued Notices of Suspension and officially initiated debarment proceedings for seven individuals today. Each individual has been found guilty of crimes related to the USF-supported E-Rate program which is designed to enhance access to advanced telecommunications and information services for all public and nonprofit elementary and secondary
school classrooms and libraries. Those who are being suspended today are:
* Donatus Anyanwu and Donna Woods of Texas - Knowingly conspired to defraud the E-Rate program of more than $337,000 by using Woods' position as CEO of a Texas school, Nova Charter School, to select Anyanwu's company, ADI Engineering, as the school's E-Rate provider.
* Shawn Clemmons of Ohio - As executive director of E-Rate program service provider South Central Ohio Computer Association, he unlawfully withheld reimbursements to schools longer than allowed; regularly used USAC reimbursements from one year to pay schools the reimbursements they were owed for the previous year; and one year, he caused all but one of the client public schools to not receive their reimbursements. A court ordered him to pay more than $3.2 million in restitution.
* Kenneth Collura of Ohio - Knowingly submitted a false certification to USAC that a contract between the Diocese of Columbus Office of Catholic Schools and the South Central Ohio Computer Association covered no ineligible services, when the charges under the contract were inflated and included expenses not eligible for E-Rate funding.
* John Comito of New York - Knowingly and intentionally devised a scheme to defraud USAC and 26 schools in New York City in order to obtain money and property from them. A court ordered him to pay more than $505,000 in restitution and a fine of $250,000.
* Charles Jones of Tennessee - Pleaded guilty to a conspiracy to commit wire fraud that involved submitting fabricated documents in Tennessee and Missouri to defraud the E-Rate program. For a decade, Jones and others siphoned more than $6 million from the E-Rate program to benefit companies he owned.
* Mark Whitaker of Tennessee - Failed to report the knowing transmission of materially false communications and documents to the federal government with the intent of defrauding the E-Rate program.
The FCC recently voted to adopt rules to bolster its suspension and debarment program and align it with other agencies and seek comment on expanding the program to allow for the broader removal of participants that commit waste, fraud, and abuse. The FCC has also proposed applying its suspension and debarment rules beyond USF programs to other programs including its Rip and Replace program, and to a wider range of misconduct. The new rules promote greater accountability and policing among program recipients, including by requiring program participants, their board members, and other company executives to disclose prior misconduct and ensure that the parties with whom they do business under FCC programs are not currently suspended or debarred.
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Original text here: https://www.fcc.gov/document/fcc-suspends-seven-convicted-criminals-usf-programs
Consumer Financial Protection Bureau Report: 'No FEAR Act Annual Report for Fiscal Year 2025'
WASHINGTON, April 8 (TNSres) -- The Consumer Financial Protection Bureau issued the following report on March 31, 2026, entitled "No FEAR Act Annual Report for fiscal year 2025."
Here are excerpts:
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The Consumer Financial Protection Bureau is pleased to present our Semi-Annual Report to Congress for the period beginning October 1, 2024 and ending December 31, 2025, except where otherwise noted.
Message from Acting Director
This Report represents the tail-end of the work of the Consumer Financial Protection Bureau under the leadership of the former Director Rohit Chopra, up until his firing
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WASHINGTON, April 8 (TNSres) -- The Consumer Financial Protection Bureau issued the following report on March 31, 2026, entitled "No FEAR Act Annual Report for fiscal year 2025."
Here are excerpts:
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The Consumer Financial Protection Bureau is pleased to present our Semi-Annual Report to Congress for the period beginning October 1, 2024 and ending December 31, 2025, except where otherwise noted.
Message from Acting Director
This Report represents the tail-end of the work of the Consumer Financial Protection Bureau under the leadership of the former Director Rohit Chopra, up until his firingby President Trump, and the work under my leadership through the end of 2025. This past year was as transformative for the Bureau as it was for the country. Instead of further growing an already over-bloated behemoth, intent on crushing entities, imposing costs on consumers and reducing their choices, the CFPB has been working to reverse the prior leadership's abuses and overreach of its statutory mandates. We adopted measures to dramatically increase efficiency and reduce unnecessary spending within the Bureau and to promote policies that benefit consumers. We are making great progress implementing the President's agenda.
While former Director Chopra did little to implement the President's anti-DEI agenda, under my leadership, the CFPB swiftly terminated DEI-related performance requirements and trainings; disbanded employee resource groups and DEI-related committees; removed DEI-related contract terms and enforcement from all active contracts and solicitations; and terminated budgeted line items associated with DEI. The CFPB's contracts now require that the contractor certifies that it does not operate any programs promoting DEI that violate any applicable Federal anti-discrimination laws. Relatedly, in the Fair Lending arena, the Bureau no longer uses disparate impact in its supervision and enforcement and no longer consults with financial institutions regarding special purpose credit programs that rely on race, national origin, or sex. Instead, we prioritize combatting intentional discrimination and debanking.
The CFPB is also focused on identifying and remedying tangible harms that are clearly within the CFPB's statutory authority, and on collaborative efforts with entities to resolve problems so that there are measurable benefits to consumers. The CFPB closed out 76% of its Supervisory Actions (nearly 1,500) and a substantial majority of its outstanding open examinations. Supervision's examinations are now targeted and significantly scaled down, focusing on the Bureau's priorities. In Enforcement, we closed numerous investigations, terminated or modified over twenty final orders, and dismissed or withdrew from nearly twenty actions filed under prior leadership that represented an expansion of the Bureau's mandate. The Bureau is continuing only those matters that align with its new priorities, and in these court actions, it has obtained favorable results for consumers, especially service members and their families and veterans.
Finally, we executed on a robust deregulatory agenda to reverse regulatory overreach, reduce unjustified regulatory burdens, and streamline and clarify existing regulations. The CFPB withdrew over a dozen final and proposed rules and nearly 70 guidance documents. It also initiated rulemakings to reconsider the CFPB's Personal Financial Data Rights rule and the Small Business Lending Rule and commenced a Regulation B rulemaking to clarify obligations under the Equal Credit Opportunity Act.
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View full report at: https://files.consumerfinance.gov/f/documents/cfpb_semi-annual-report_spring-2025.pdf
