Featured Stories
FCC Repays $3.08 Billion Treasury Loan Following Auction Success
WASHINGTON, Sept. 5 -- The Federal Communications Commission issued the following news release on Sept. 4, 2026:
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FCC Repays $3.08 Billion Treasury Loan Following Auction Success
Loan Supported Completion of Agency's Rip-and-Replace Program
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Today, the Federal Communications Commission announced the return of $3.08 billion to the U.S. Treasury, which was borrowed in March 2025 to support the FCC's Rip-and-Replace reimbursement program. The Secure and Trusted Communications Networks Act established the reimbursement program to help eligible communications providers remove, replace,
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WASHINGTON, Sept. 5 -- The Federal Communications Commission issued the following news release on Sept. 4, 2026:
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FCC Repays $3.08 Billion Treasury Loan Following Auction Success
Loan Supported Completion of Agency's Rip-and-Replace Program
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Today, the Federal Communications Commission announced the return of $3.08 billion to the U.S. Treasury, which was borrowed in March 2025 to support the FCC's Rip-and-Replace reimbursement program. The Secure and Trusted Communications Networks Act established the reimbursement program to help eligible communications providers remove, replace,and dispose of covered communications equipment and services. The quick repayment of this loan was due in part to a successful AWS-3 Spectrum auction conducted in June 2026.
Chairman Brendan Carr issued the following statement:
"The FCC's Rip-and-Replace Program supports the important work of removing insecure equipment and services from our nation's networks, which was critical in preserving national security. Betting on the success of Auction 113 was a sound investment and with $3.572 billion in winning bids, we were able to pay back this loan in full earlier than anticipated. I'm grateful for the U.S. Treasury's support in helping us get more covered equipment off of our networks faster."
Additional Background Information:
Congress initially provided approximately $1.9 billion for the program, but approved reimbursement demand substantially exceeded available funding. Due to insufficient funding, the FCC initially allocated only about 39.5 percent of approved costs to recipients. The resulting funding gap of approximately $3.08 billion threatened the timely completion of equipment removal and replacement activities tied to national security objectives.
On December 23, 2024, the Spectrum and Secure Technology and Innovation Act was enacted, authorizing the FCC to borrow up to an additional $3.08 billion from the U.S. Treasury to carry out this effort. With this further allocation, recipients are able to move swiftly to fulfill their removal, replacement, and disposal work under the Secure Networks Act and Program rules.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-424737A1.pdf
SEC Commissioner Peirce Issues Statement on Proposed Rescission of Pay-to-Play Rule
WASHINGTON, Sept. 4 -- The Securities and Exchange Commission issued the following statement on Sept. 3, 2026, by Commissioner Hester M. Peirce:
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First Amendment Sense and Sensibilities: Statement on Proposed Rescission of Pay-to-Play Rule
Today, the Commission proposed to rescind Investment Advisers Act rule 206(4)-5, the investment adviser "Pay-to-Play Rule." I am thrilled that we are proposing to eliminate rather than simply amend the rule, which always has bothered my First Amendment sensibilities.[1]
Although ensuring that campaign donations are not driving adviser selection makes
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WASHINGTON, Sept. 4 -- The Securities and Exchange Commission issued the following statement on Sept. 3, 2026, by Commissioner Hester M. Peirce:
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First Amendment Sense and Sensibilities: Statement on Proposed Rescission of Pay-to-Play Rule
Today, the Commission proposed to rescind Investment Advisers Act rule 206(4)-5, the investment adviser "Pay-to-Play Rule." I am thrilled that we are proposing to eliminate rather than simply amend the rule, which always has bothered my First Amendment sensibilities.[1]
Although ensuring that campaign donations are not driving adviser selection makessense, the rule effectively functions as a restriction on political speech. The rule is broad,[2] and its exceptions are narrow.[3]The Commission's enforcement of the rule has not moderated its breadth,[4]and the Commission rarely uses its unwieldy exemptive authority under the rule.[5] Advisers' implementation of the rule has compounded its consequences: as the Commission acknowledges in today's proposing release, one effect of the Pay-to-Play Rule has been "advisers prohibiting contributions outright."[6]
Political speech is at the core of what the First Amendment protects.[7] The SEC, even when its motives are good, must tread carefully in curtailing such speech. Today's proposal respects the First Amendment's protections of speech and the limits of our authority to override such protections.
The rescission, if adopted, would not pave the way for adviser pay-to-play practices. These practices are and would still be prohibited by other laws, including the antifraud provisions of the Advisers Act. In fact, prior to the adoption of the Pay-to-Play Rule, the Commission brought antifraud actions against advisers for their pay-to-play practices.[8] Notably, other government bodies exist to pursue political corruption.
I look forward to receiving comments from advisers, advisory personnel, state and local government entities and officials, and other interested parties on this proposal. I would welcome feedback on the following:
* As noted in the Proposing Release, the Pay-to-Play Rule was modeled, in large part, on the Municipal Securities Rulemaking Board rule G-37 (the MSRB political contribution rule).[9] In addition, rule 15Fh-6 under the Securities Exchange Act contains a similar political contribution prohibition for security-based swap dealers. FINRA rule 2030 prohibits certain FINRA members from engaging in distribution or solicitation activities for compensation with a government entity on behalf of an investment adviser that provides or is seeking to provide investment advisory services to such entity within two years after a contribution to an official of the government entity is made by the FINRA member (except when the member is engaging in activities that would cause the member to be a municipal adviser). Should these rules be rescinded too?
* Will advisers, even after the rule is rescinded, prohibit employees from making state and local political contributions? Would guidance from the Commission make this unintended outcome less likely?
Thank you to the staff in the Division of Investment Management, the Division of Economic and Risk Analysis, and the Office of the General Counsel for their thoughtful work on the proposed rescission.
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[1] See, e.g., Commissioner Hester M. Peirce, Peirce Out: Remarks at the U.S. Chamber of Commerce Capital Markets Summit (June 9, 2026), https://www.sec.gov/newsroom/speeches-statements/peirce-remarks-chamber-commerce-capital-markets-summit-060926#_ednref12; Commissioner Hester M. Peirce, Expect the Inquisition: Dissent from Obra Capital Management, LLC (Aug. 19, 2024), https://www.sec.gov/newsroom/speeches-statements/peirce-statement-obra-capital-management-081924; Commissioner Hester M. Peirce, There's Got to be a Better Way: Statement of Dissent Regarding Wayzata Investment Partners LLC (Apr. 15, 2024), https://www.sec.gov/newsroom/speeches-statements/peirce-statement-wayzata-041524; Commissioner Hester M. Peirce, Laudable Ends, Poorly Pursued: Statement Regarding Recent Pay-to-Play Rule Settlements (Sept. 15, 2022), https://www.sec.gov/newsroom/speeches-statements/peirce-statement-pay-play-rule-settlements-091522.
[2] In general, the rule restricts an investment adviser from providing advisory services for compensation to a government entity if it or any of its covered associates (including a person who becomes a covered associate within two years after making a contribution) contributes to an official of the government entity. See rule 206(4)-5(a)(1). Under the rule an "official" includes, both incumbents and candidates, if the office held or sought "has authority to appoint any person who is directly or indirectly responsible for, or can influence the outcome of, the hiring of an investment adviser." See rule 206(4)-5(f)(6)(ii). Even an official that merely appoints another person who then participates in the selection of an investment adviser is included within the scope of the rule. See Political Contributions by Certain Investment Advisers, Investment Advisers Act Rel. No. 3043, 75 FR 41018 (Jul. 14, 2010) at nn.141-143 and accompanying text.
[3] For example, the rule excludes contributions made by a covered associate that in the aggregate do not exceed $350 per election to any official for whom the covered associate was entitled to vote. See rule 206(4)-5(b)(1). If the covered associate was not entitled to vote for the official, the maximum for the exception is $150.
[4] See, e.g., Commissioner Hester M. Peirce, Laudable Ends, Poorly Pursued: Statement Regarding Recent Pay-to-Play Rule Settlements (Sept. 15, 2022), https://www.sec.gov/newsroom/speeches-statements/peirce-statement-pay-play-rule-settlements-091522, at text accompany notes 5-6. ("The four enforcement actions share similar facts. All involve one-time, small-dollar contributions by one or two people, and all the investment advisers had established advisory relationships with the relevant government entities before the contributions occurred. Three of the four actions involve closed-end funds investments where "investors were generally prohibited from withdrawing their money for the life of the Funds." In the fourth, the contributor was not covered by the Rule at the time of the contribution in July 2018; the contributor became a covered associate when promoted in September 2018.Nowhere do the Commission's orders find that any of the investment advisers solicited new or additional business from any governments at the time of or after the contributions.") (footnotes omitted).
[5] See rule 206(4)-5(e).
[6] See Political Contributions by Certain Investment Advisers, Investment Advisers Act Rel. No. 6994 (Sept. 3, 2026) ("Proposing Release") at text accompanying n.53. In addition, investment adviser personnel who choose to run for office also cannot collect campaign donations from colleagues and supporters in the advisory community because such a candidate is not able to solicit campaign contributions from people with whom they have worked.
[7] See Nat'l Republican Senatorial Comm. V. FEC, 146 S. Ct. 2404, 2415 (2026)("The First Amendment's protection of free speech has its 'fullest and most urgent application precisely to the conduct of campaigns for political office.'") (quoting FEC v. Ted Cruz for Senate, 596 U.S. 289, 302 (2022)).
[8] See, e.g., SEC v. Henry Morris, et al., Litigation Release No. 21036 (May 12, 2009); SEC v. Paul J. Silvester, et al., Litigation Release No. 16759 (Oct. 10, 2000).
[9] See Proposing Release at text accompanying n .109.
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Original text here: https://www.sec.gov/newsroom/speeches-statements/peirce-statement-pay-play-090326
FCC Issues Notice of Violation to Zamora Broadcasting Systems
WASHINGTON, Sept. 4 -- The Federal Communications Commission issued a Notice of Violation (File No.: EB-FIELDNER-26-00040932) to Zamora Broadcasting Systems Inc., licensee of FM translator radio station W300DI in Dearborn, Michigan. Released on Sept. 3, 2026, by the Regional Director of Region One in the Enforcement Bureau, the notice follows an inspection conducted on July 15, 2026, in response to a complaint.
During the site visit at 13961 Turner Avenue, Detroit, Michigan, an agent observed multiple regulatory infractions. First, the station violated 47 CFR Sec. 74.1251(b)(2) by operating an
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WASHINGTON, Sept. 4 -- The Federal Communications Commission issued a Notice of Violation (File No.: EB-FIELDNER-26-00040932) to Zamora Broadcasting Systems Inc., licensee of FM translator radio station W300DI in Dearborn, Michigan. Released on Sept. 3, 2026, by the Regional Director of Region One in the Enforcement Bureau, the notice follows an inspection conducted on July 15, 2026, in response to a complaint.
During the site visit at 13961 Turner Avenue, Detroit, Michigan, an agent observed multiple regulatory infractions. First, the station violated 47 CFR Sec. 74.1251(b)(2) by operating anunauthorized antenna array consisting of three Aldena AST.05.02.336 antennas facing directions of 50, 140, and 235 degrees. This setup deviated from the authorized log periodic antenna pattern licensed at 30 and 270 degrees, failing to produce a required null at 140 degrees. Zamora failed to submit the required application on FCC Form 349 prior to changing its transmitting antenna system.
Second, the station violated 47 CFR Sec. 74.1235(e) regarding power limits. Station W300DI is licensed for a transmitter output power of 38 Watts. However, inspectors found the station operating an RVR Electronica TEX150LCD transmitter at 150.0 Watts--representing 394 percent of its authorized power.
Pursuant to section 308(b) of the Communications Act of 1934 and section 1.89 of FCC rules, Zamora must submit a sworn, written statement within 20 days explaining the violations, outlining corrective measures, and providing a completion timeline. Failure to resolve these issues could result in further enforcement, including financial penalties.
-- Vidhi Gianani, Targeted News Service
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-938A1.pdf
FCC Bans Seven Convicted Criminals From E-Rate Program
WASHINGTON, Sept. 4 -- The Federal Communications Commission issued the following news release on Sept. 3, 2026:
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FCC Bans Seven Convicted Criminals from E-Rate Program
Enforcement Bureau Debarments Mean None of the Individuals Can Participate in Any Universal Service Fund Program
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Today, the Federal Communications Commission debarred seven individuals from participating in the FCC's E-Rate program and any other program funded by the Universal Service Fund. These convicted criminals had illegally enriched themselves through schemes to defraud the E-Rate program, including by lying in
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WASHINGTON, Sept. 4 -- The Federal Communications Commission issued the following news release on Sept. 3, 2026:
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FCC Bans Seven Convicted Criminals from E-Rate Program
Enforcement Bureau Debarments Mean None of the Individuals Can Participate in Any Universal Service Fund Program
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Today, the Federal Communications Commission debarred seven individuals from participating in the FCC's E-Rate program and any other program funded by the Universal Service Fund. These convicted criminals had illegally enriched themselves through schemes to defraud the E-Rate program, including by lying inofficial filings with the Universal Service Administrative Company (USAC) and overbilling the E-Rate program.
The FCC takes very seriously its responsibility to combat fraud, waste, and abuse in Universal Service Fund (USF) programs, and its Enforcement Bureau works diligently to protect these funds from misuse. Earlier this year, the FCC voted to bolster its suspension and debarment rules to enable the agency to take quicker and more comprehensive action against wrongdoers so as to better protect these programs from abuse and ensure that limited resources are used responsibly to connect all Americans.
Chairman Brendan Carr issued the following statement:
"The FCC has been clear that criminals who defraud our connectivity programs will face debarment. The idea of these bad actors targeting the E-Rate program to line their own pockets is unconscionable. I want to thank our federal enforcement partners and the great folks here at the FCC for their hard work on these cases."
Additional Background Information:
The FCC's Enforcement Bureau issued Notices of Debarment for seven individuals today following Notices of Suspension issued earlier this year. 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 banned from the USF programs 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 Nova Charter School in Texas 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, Clemmons 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 Comito 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.
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Original text here: https://docs.fcc.gov/public/attachments/DOC-424713A1.pdf
CPSC Issues Recall Alert Involving XO Poppy Power Trip Magnetic Wireless Power Banks
WASHINGTON, Sept. 4 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: XO Poppy Power Trip Magnetic Wireless Power Banks
Hazard: The lithium-ion battery in the recalled power banks can overheat and ignite, posing fire and burn hazards to consumers.
Remedy: Refund
Recall Date: September 03, 2026
Units: About 32,400
Consumer Contact: Truststone Group toll-free at 833-820-0888 from 8:30 a.m. to 6 p.m. ET Monday through Friday, email at xopowerbank@realtimeresults.net, online at https://www.recallrtr.com/xopowerbank and click on "Important Recall
... Show Full Article
WASHINGTON, Sept. 4 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: XO Poppy Power Trip Magnetic Wireless Power Banks
Hazard: The lithium-ion battery in the recalled power banks can overheat and ignite, posing fire and burn hazards to consumers.
Remedy: Refund
Recall Date: September 03, 2026
Units: About 32,400
Consumer Contact: Truststone Group toll-free at 833-820-0888 from 8:30 a.m. to 6 p.m. ET Monday through Friday, email at xopowerbank@realtimeresults.net, online at https://www.recallrtr.com/xopowerbank and click on "Important RecallInformation" to learn more.
Recall Details
Description: This recall involves XO Poppy Power Trip Magnetic Wireless Power Banks with model number PYPBK5M. The power banks come in three colors and can be identified by their appearance and packaging: cream colored (PY-PBK5M-CR2); cream with pink bow print (PY-PBK5M-BW8); and black with teddy bear print (PY-PBK5M-TB2). Specific model numbers can be found printed on the bottom of the original packaging, directly above the barcode.
Note: Do not throw this recalled lithium-ion battery or device in the trash, in the general recycling stream (e.g., street-level or curbside recycling bins), or in used battery recycling boxes found at various retail and home improvement stores. Recalled lithium-ion batteries must be disposed of differently than other batteries, because they present a greater risk of fire. Your municipal household hazardous waste (HHW) collection center may accept this recalled lithium-ion battery or device for disposal. Before taking your battery or device to a HHW collection center, contact that office ahead of time and ask whether it accepts recalled lithium-ion batteries. If it does not, contact your municipality for further guidance.
Remedy: Consumers should stop using the recalled power banks immediately and contact Truststone Group for a full refund in the form of a virtual gift card. The virtual gift card can be used at any establishment that accepts Mastercard.
Incidents/Injuries: None reported
Sold At: TJX and Marshalls stores nationwide from April 2025 through March 2026 for about $15
Importer(s): Truststone Group LLC of New York
Manufactured In: Vietnam
Recall number: 26-740
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Original text here: https://www.cpsc.gov/Recalls/2026/Truststone-Group-Recalls-XO-Poppy-Power-Trip-Magnetic-Wireless-Power-Banks-Due-to-Fire-and-Burn-Hazards-Sold-Exclusively-at-TJX-and-Marshalls-Stores
CPSC Issues Recall Alert Involving Loyoda Adult Portable Bed Rails
WASHINGTON, Sept. 4 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Loyoda Adult Portable Bed Rails
Hazard: The recalled bed rails violate the mandatory standard for adult portable bed rails because users can become entrapped within the bed rail or between the bed rail and the side of the mattress, posing a serious entrapment hazard and risk of death by asphyxiation. The bed rails also do not meet retention strap requirements, posing a fall hazard. The bed rails' push pins and push pin holes are incorrectly sized, posing a laceration hazard.
... Show Full Article
WASHINGTON, Sept. 4 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Loyoda Adult Portable Bed Rails
Hazard: The recalled bed rails violate the mandatory standard for adult portable bed rails because users can become entrapped within the bed rail or between the bed rail and the side of the mattress, posing a serious entrapment hazard and risk of death by asphyxiation. The bed rails also do not meet retention strap requirements, posing a fall hazard. The bed rails' push pins and push pin holes are incorrectly sized, posing a laceration hazard.In addition, the bed rails do not bear the required hazard warning labels.
Remedy: Refund
Recall Date: September 03, 2026
Units: About 2,200
Consumer Contact: Loyoda by email at support@loyoda.com
Recall Details
Description: This recall involves Loyoda-branded adult portable bed rails. The bed rail comes in silver, measures 13.38 inches wide by 17.71 inches tall and can be extended to 20.47 inches tall. "Loyoda" and the model "FBL140202" are both printed on labels on the product. Only bed rails manufactured before December 15, 2025 are included in this recall. The manufacture date in YYYY-MM-DD format and model number are printed on the product packaging.
Remedy: Consumers should stop using the recalled adult portable bed rails immediately and contact Loyoda for a full refund. Consumers will be asked to cut the black safety strap in half and write "RECALLED" on the upper and lower bed rails with a permanent marker, take a photo of the marked bed rail and email the photo to support@loyoda.com in order to receive a refund.
Incidents/Injuries: None reported.
Sold Online At: Amazon.com from June 2025 through April 2026 for between $40 and $50.
Retailer(s): Fangzhou Overseas Consulting Shenzhen Co., Ltd., doing business as Loyoda Direct, of China; and Shenzhen Taizai Trading Co., Ltd., doing business as Loyoda, of China
Manufactured In: China
Recall number: 26-733
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Original text here: https://www.cpsc.gov/Recalls/2026/Adult-Portable-Bed-Rails-Recalled-Due-to-Risk-of-Serious-Injury-or-Death-from-Entrapment-and-Asphyxiation-Violate-Mandatory-Standard-for-Adult-Portable-Bed-Rails-Sold-on-Amazon-by-Loyoda-Direct-and-Loyoda
CPSC Issues Recall Alert Involving Amana Through the Wall Air Conditioners or Heat Pumps
WASHINGTON, Sept. 4 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Amana Through the Wall (TTW) air conditioners or heat pumps
Hazard: The snubber circuit can emit flames if it shorts, posing a risk of serious injury due to fire hazard.
Remedy: Refund
Recall Date: September 03, 2026
Units: About 4,633 (In addition, about 126 were sold in Canada)
Consumer Contact: DCT toll-free at 833-730-0939 from 8 a.m. to 5 p.m. CT Monday through Friday or online at https://www.amana-ptac.com/amana-ttw-wrac-recall-2 or www.amana-ptac.com and click on
... Show Full Article
WASHINGTON, Sept. 4 -- The Consumer Product Safety Commission issued the following recall alert:
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Name of Product: Amana Through the Wall (TTW) air conditioners or heat pumps
Hazard: The snubber circuit can emit flames if it shorts, posing a risk of serious injury due to fire hazard.
Remedy: Refund
Recall Date: September 03, 2026
Units: About 4,633 (In addition, about 126 were sold in Canada)
Consumer Contact: DCT toll-free at 833-730-0939 from 8 a.m. to 5 p.m. CT Monday through Friday or online at https://www.amana-ptac.com/amana-ttw-wrac-recall-2 or www.amana-ptac.com and click on"Product Recall" at the bottom right of the page for more information.
Recall Details
In Conjunction With:
Description: This recall involves certain Amana brand Through the Wall (TTW) air conditioners or heat pumps. These products are white and the brand name is printed on most of the units' control covers. The units are used to provide room climate control. They most often are installed at hotels, apartment buildings, and commercial spaces.
The model number and serial number are located on the front of the unit on the front edge of the base pan on a white sticker. Recalled units have a model number beginning with PB. The model numbers in the recall include: [View table in the link at bottom.]
Remedy: Consumers should stop using the recalled product immediately and contact Daikin Comfort Technologies Manufacturing, Inc. (DCT) to submit a request for a full refund of the unit. Consumers will be required to provide their contact information, cut the product's cord, and then upload a photo of the product's serial number and the cut cord to receive a full refund of the unit.
Incidents/Injuries: DCT has received two reports of a component on the control board shorting. No injuries have been reported.
Sold At: Through direct sales and distribution customers nationwide from April 2025 through June 2026 for between $625 and $900.
Importer(s): Daikin Comfort Technologies Manufacturing, Inc. of Houston, Texas
Manufactured In: India
Recall number: 26-734
Fast Track Recall
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Original text here: https://www.cpsc.gov/Recalls/2026/Daikin-Comfort-Technologies-Manufacturing-Recalls-Amana-Through-The-Wall-Air-Conditioners-and-Heat-Pumps-Due-to-Risk-of-Serious-Injury-from-Fire
