Federal Regulatory Agencies
News releases, reports, statements and associated documents from federal regulatory agencies ranging from the Securities Exchange Commission to the Commodities Futures Trading Commission
Featured Stories
FTC Approves Final Order Requiring Northeast Supermarkets Price Chopper and Tops Market to Sell 12 Stores as a Condition of Merger
WASHINGTON, Jan. 25 -- The Federal Trade Commission issued the following news release:
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the merger of New York-based supermarket operators The Golub Corp., which owns the Price Chopper chain, and Tops Market Corp. would likely be anticompetitive in 11 local markets across upstate New York and Vermont.
Under the terms of the final settlement, the supermarket operators have agreed to divest 12 Tops supermarkets to C&S Wholesale Grocers. The order requires the parties to obtain the prior
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WASHINGTON, Jan. 25 -- The Federal Trade Commission issued the following news release:
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that the merger of New York-based supermarket operators The Golub Corp., which owns the Price Chopper chain, and Tops Market Corp. would likely be anticompetitive in 11 local markets across upstate New York and Vermont.
Under the terms of the final settlement, the supermarket operators have agreed to divest 12 Tops supermarkets to C&S Wholesale Grocers. The order requires the parties to obtain the priorapproval of the FTC before selling or acquiring supermarkets in the affected markets. The order also requires C&S Wholesale Grocers to obtain the prior approval of the FTC before selling any of the assets it is acquiring in this divestiture.
First announced in November 2021, the complaint alleged that the merger as proposed was likely to substantially lessen competition for the sale of grocery products in the New York communities of Cooperstown, Cortland, Oneida, Owego, Norwich, Warrensburg, Lake Placid, Rome, Watertown, and Plattsburgh; and in Rutland, Vermont. Under the order, the supermarket operators will divest one supermarket in each market except for Watertown, where they will divest two.
The Commission vote to approve the final order was 4-0.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about how competition benefits consumers or file an antitrust complaint.
FTC Announces Annual Update of Size of Transaction Thresholds for Premerger Notification Filings and Interlocking Directorates
WASHINGTON, Jan. 25 -- The Federal Trade Commission issued the following news release:
For 2022, the size-of-transaction threshold for reporting proposed mergers and acquisitions under Section 7A of the Clayton Act will adjust from $92 million to $101 million. Also, the 2022 thresholds under Section 8 of the Act that trigger prohibitions on certain interlocking memberships on corporate boards of directors are $41,034,000 for Section 8(a)(l ) and $4,103,400 for Section 8(a)(2)(A).
The FTC revises the thresholds annually, based on the change in gross national product. The revised thresholds under
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WASHINGTON, Jan. 25 -- The Federal Trade Commission issued the following news release:
For 2022, the size-of-transaction threshold for reporting proposed mergers and acquisitions under Section 7A of the Clayton Act will adjust from $92 million to $101 million. Also, the 2022 thresholds under Section 8 of the Act that trigger prohibitions on certain interlocking memberships on corporate boards of directors are $41,034,000 for Section 8(a)(l ) and $4,103,400 for Section 8(a)(2)(A).
The FTC revises the thresholds annually, based on the change in gross national product. The revised thresholds underSection 7A of the Clayton Act will apply to all transactions that close on or after the effective date of the notice, which is 30 days after its publication in the Federal Register. The thresholds for Section 8 of the Clayton Act become effective upon publication in the Federal Register. A complete listing of current thresholds can be found on the FTC's website, and will be updated once the revised thresholds are published in the Federal Register.
Commissioner Rebecca Kelly Slaughter issued a statement, which was joined by Chair Lina M. Khan.
The votes to approve the Federal Register notices announcing the threshold revisions were both 4-0.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about how competition benefits consumers or file an antitrust complaint.
FDIC Announces Collaboration With Operation HOPE, to Expand Financial Education and Minority/Women-Owned Business Opportunities
WASHINGTON, Jan. 25 -- The Federal Deposit Insurance Corporation issued the following news release on Jan. 24, 2022:
The Federal Deposit Insurance Corporation (FDIC) today announced a collaboration with Operation HOPE, Inc., to promote financial education using the FDIC's Money Smart curriculum and other resources and to help educate minority- and/or women-owned businesses on how to do business with the agency. The arrangement expands upon a longstanding relationship between the FDIC and Operation HOPE to promote economic inclusion and increase consumer access to affordable credit.
In 2001, recognizing
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WASHINGTON, Jan. 25 -- The Federal Deposit Insurance Corporation issued the following news release on Jan. 24, 2022:
The Federal Deposit Insurance Corporation (FDIC) today announced a collaboration with Operation HOPE, Inc., to promote financial education using the FDIC's Money Smart curriculum and other resources and to help educate minority- and/or women-owned businesses on how to do business with the agency. The arrangement expands upon a longstanding relationship between the FDIC and Operation HOPE to promote economic inclusion and increase consumer access to affordable credit.
In 2001, recognizingthe importance of financial education, particularly for persons with little or no banking experience, the FDIC created Money Smart, a financial education curriculum adopted by an alliance of more than 1,400 financial institutions and community-based partners across the United States. Operation HOPE is a non-profit organization with a mission to promote financial empowerment and economic inclusion. As outlined in its Diversity, Equity, and Inclusion Strategic Plan (https://www.fdic.gov/about/diversity/pdf/dei2021.pdf), the FDIC regularly cooperates with community groups across the nation, like Operation HOPE, to support financial inclusion.
"We are excited about FDIC's collaboration with Operation HOPE as we share a common purpose to help every person belong to our nation's financial system," said FDIC Chairman Jelena McWilliams. "Working together, it is our goal to make certain our nation's economy works for everyone."
"FDIC's bold commitment to financial education and empowerment closely aligns with our work at Operation HOPE," said John Hope Bryant, Founder, Chairman and CEO of Operation HOPE. "Through initiatives like Money Smart, we are honored to help increase the ability for more Americans to take control of their finances and build a brighter future."
The collaboration announced today outlines a number of activities that the FDIC and Operation HOPE will engage in to promote financial education using the Money Smart curriculum and to share technical assistance and other resources to educate minority- and/or women-owned businesses on how to effectively compete for opportunities related to FDIC contracts, asset purchases, and investments. Read the collaboration arrangement between the FDIC and Operation HOPE, Inc: https://www.fdic.gov/news/press-releases/2022/pr22005a.pdf
Attachment:
FDIC and Operation Hope Collaboration Arrangement: https://www.fdic.gov/news/press-releases/2022/pr22005a.pdf
Litigation: SEC Obtains Final Judgment Against Detroit Area Businessperson Who Fraudulently Used Investors Funds to Play Michigan State Lottery
WASHINGTON, Jan. 24 -- The Securities and Exchange Commission issued the following litigation release (No. 21-civ-10199; E.D Michigan filed Jan. 28, 2021) involving Viktor Gjonaj:
On January 24, 2022, the U.S. District Court for the Eastern District of Michigan entered a Final Judgment against Viktor Gjonaj, whom the SEC previously charged for allegedly defrauding members of the Albanian-American community out of approximately $26.4 million, some of which he spent playing the Michigan State Lottery.
According to the SEC's complaint filed on January 28, 2021, from at least mid-2016 to 2019, Gjonaj
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WASHINGTON, Jan. 24 -- The Securities and Exchange Commission issued the following litigation release (No. 21-civ-10199; E.D Michigan filed Jan. 28, 2021) involving Viktor Gjonaj:
On January 24, 2022, the U.S. District Court for the Eastern District of Michigan entered a Final Judgment against Viktor Gjonaj, whom the SEC previously charged for allegedly defrauding members of the Albanian-American community out of approximately $26.4 million, some of which he spent playing the Michigan State Lottery.
According to the SEC's complaint filed on January 28, 2021, from at least mid-2016 to 2019, Gjonajraised approximately $26.4 million through the fraudulent offer and sale of investment contracts to at least 24 investors, most of whom were members of the Albanian-American community in Detroit. As alleged, Gjonaj falsely represented to investors that their money would be used to purchase, develop, and sell real estate projects. Instead, Gjonaj allegedly used at least $10 million of the investors' funds to play the Michigan State Lottery, at times buying as much as $1 million worth of lottery tickets in a single week. Gjonaj also allegedly directed millions of dollars of investors' money to his personal checking account. As further alleged, in order to maintain the fraud, Gjonaj repaid investors with lottery winnings, which Gjonaj falsely claimed were proceeds from real estate investments. According to the complaint, by August 2019, Gjonaj had lost all of his own and his investors' money, and owed the investors approximately $19 million.
Gjonaj previously agreed to a bifurcated settlement that left determination of any monetary remedies against him to the court.
In a parallel criminal action, the U.S. Attorney's Office for the Eastern District of Michigan filed criminal charges against Gjonaj. Gjonaj pled guilty to those charges and was sentenced to a prison term of 53 months followed by three years of supervised release and ordered to pay forfeiture and restitution.
The Final Judgment enjoins Gjonaj from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Final Judgment further finds Gjonaj liable for disgorgement and prejudgment interest of $21,128,466, but deems that amount satisfied by the restitution order in the parallel criminal matter. The final judgment does not order Gjonaj to pay a civil penalty in light of the criminal conviction and prison sentence.
The SEC's litigation was led by Daniel Hayes and assisted by James O'Keefe and Marlene Key-Patterson of the SEC's Chicago Regional Office. The SEC appreciates the assistance of the U.S. Attorney's Office for the Eastern District of Michigan and the Federal Bureau of Investigation.
SEC Issues Awards Totaling More Than $40 Million to Four Whistleblowers
WASHINGTON, Jan. 22 -- The Securities and Exchange Commission issued the following news release on Jan. 21, 2022:
The Securities and Exchange Commission today announced three awards totaling more than $40 million to four whistleblowers who provided information and assistance in three separate covered actions.
In the first order, the SEC issued an award of approximately $37 million to two joint whistleblowers who provided key evidence that contributed to the success of the covered action. The whistleblowers also provided ongoing assistance and helped the staff identify additional information that
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WASHINGTON, Jan. 22 -- The Securities and Exchange Commission issued the following news release on Jan. 21, 2022:
The Securities and Exchange Commission today announced three awards totaling more than $40 million to four whistleblowers who provided information and assistance in three separate covered actions.
In the first order, the SEC issued an award of approximately $37 million to two joint whistleblowers who provided key evidence that contributed to the success of the covered action. The whistleblowers also provided ongoing assistance and helped the staff identify additional information thatadvanced the investigation.
In the second order, the SEC issued approximately $1.8 million to a whistleblower who provided important, new information that prompted Commission staff to open an investigation into the misconduct. The whistleblower continued to assist the staff by providing interviews and additional documents.
In the third order, the SEC awarded approximately $1.5 million to a whistleblower who provided new information that shaped staff's investigative strategy and significantly contributed to the success of the covered action. The whistleblower also provided substantial and ongoing assistance by helping the Commission staff identify issues.
"Credible tips of securities laws violations are a valuable component of the Commission's enforcement program," said Creola Kelly, Chief of the SEC's Office of the Whistleblower. "The critical information provided by these whistleblowers aided the Commission's investigations and helped the Commission bring these successful enforcement actions."
The SEC has awarded approximately $1.2 billion to 245 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower's identity.
FEC Issues Digest Week of Jan. 17-21, 2022
WASHINGTON, Jan. 22 -- The Federal Election Commission issued the following weekly digest:
Commission meetings and hearings
No open meetings or executive sessions were scheduled this week.
Enforcement
The Commission made public eight closed cases, as follows. For more information, see the case documents in the Enforcement Query System.
MUR 7584
COMPLAINANT: Gary Hirschkron
RESPONDENTS: M Financial Holdings Incorporated (M Financial); and M Political Advocacy Committee (MPAC)
SUBJECT: The complaint alleged that M Financial and MPAC violated the Federal Election Campaign Act of 1971, as amended
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WASHINGTON, Jan. 22 -- The Federal Election Commission issued the following weekly digest:
Commission meetings and hearings
No open meetings or executive sessions were scheduled this week.
Enforcement
The Commission made public eight closed cases, as follows. For more information, see the case documents in the Enforcement Query System.
MUR 7584
COMPLAINANT: Gary Hirschkron
RESPONDENTS: M Financial Holdings Incorporated (M Financial); and M Political Advocacy Committee (MPAC)
SUBJECT: The complaint alleged that M Financial and MPAC violated the Federal Election Campaign Act of 1971, as amended(the Act), and Commission regulations when M Financial improperly deducted $6,000 from the Incentive Compensation Plan (ICP) account of Hirschkron in order to fund a contribution to MPAC. The complaint further alleged that M Financial and MPAC improperly deducted compensation from other individuals with ICP accounts at M Financial.
DISPOSITION: The Commission found no reason to believe the Respondents violated the Act. The Commission observed that the available information suggested that (1) MPAC is not a federal political committee registered with the Commission and did not accept contributions from Hirschkron, and (2) M Financial, not MPAC, received the contribution from Hirschkron's ICP award as part of a decision approved by M Financial's Board of Directors to assess each ICP member group a flat fee of $6,000 in order to fund 2019 advocacy efforts.
MUR 7593
COMPLAINANT: Michael Edelman
RESPONDENT: Fox News Network, LLC (Fox News)
SUBJECT: The complaint alleged that Fox News made a prohibited in-kind corporate contribution to then-United States Senate candidate Josh Hawley when Sean Hannity and Jeanine Pirro, two employees of and talk show hosts on Fox News, endorsed Hawley's candidacy at a campaign rally on behalf of Fox News. Hawley was a 2018 candidate for Missouri's Senate seat.
DISPOSITION: The Commission dismissed the allegations. The Commission observed that the available information supported the conclusion that Hannity and Pirro were acting in their personal capacities, not as agents of Fox News.
MUR 7640
COMPLAINANT: Political Law PLLC
RESPONDENTS: Christine O'Donnell; and Friends of Christine O'Donnell and Christopher M. Marston, in his official capacity as treasurer (the Committee)
SUBJECT: The complaint alleged that O'Donnell and the Committee intended to convert campaign assets, specifically contributor lists, to personal use.
DISPOSITION: The Commission found no reason to believe O'Donnell and the Committee were about to convert campaign assets to personal use. Chairman Allen Dickerson and Commissioners Sean J. Cooksey and James E. "Trey" Trainor, III issued a Statement of Reasons.
MURs 7689 and 7794
COMPLAINANTS: David Losey; and Andrew B. Sandler
RESPONDENTS: Amanda Adkins; and Amanda Adkins for Congress and Robert Phillips III, in his official capacity as treasurer
SUBJECT: The complaints alleged that Adkins, a 2020 candidate for Kansas's 3rd Congressional District, failed to timely file a Statement of Candidacy and that the Committee received contribution checks that it failed to deposit within 10 days as required.
DISPOSITION: The Commission dismissed the allegation concerning the timing of Adkins's filing of the Statement of Candidacy, consistent with Commission precedent in similar matters, and it dismissed the allegation concerning the timing of the Committee's check deposits, observing that it was not aware of any information that would support the allegation.
MUR 7748
COMPLAINANT: Brian Coletta
RESPONDENT: To Elect Jenny Marshall and Jennifer Marshall, in her official capacity as treasurer (the Committee); Jennifer Marshall; and Jeffrey Marshall
SUBJECT: The complaint alleged that the Committee failed to file three 2018 campaign finance disclosure reports with the Commission, and in so doing did not report all of its contributions, expenditures, and debts along with purpose or street address information for disbursements to campaign staff. The complaint also alleged that the Committee failed to respond to Requests for Additional Information issued by the Commission, did not timely file its Statement of Organization, and converted certain campaign funds to personal use.
DISPOSITION: The Commission exercised its prosecutorial discretion and dismissed the complaint. The Commission observed the relatively modest amounts at issue concerning the reporting and personal use allegations, and noted that the Committee's failure to file its reports has been addressed through the agency's Administrative Fine Program. The Commission reminded the Committee to take steps to ensure compliance with the reporting requirements for the filing of its missing disclosure reports.
MUR 7650
COMPLAINANT: Cheryl A. Melton
RESPONDENT: Donald J. Trump for President and Bradley Crate, as treasurer
SUBJECT: The complaint alleged that that an internet search for "donate joe biden" provided a link to donate to Donald J. Trump for President, Inc.
DISPOSITION: The Commission exercised its prosecutorial discretion and dismissed the matter. The Commission observed the speculative nature of the allegations in the complaint.
MUR 7922
COMPLAINANT: FEC-Initiated
RESPONDENT: Bryan Williams
SUBJECT: In the normal course of exercising its supervisory responsibilities, the Commission initiated proceedings to determine whether there was reason to believe Williams knowingly and willfully (1) failed to keep an account of disbursements made from the funds of the Kern County Republican Central Committee (the Committee), for which he served as treasurer, (2) failed to file accurate reports with the Commission, and (3) commingled the Committee's funds with his personal funds.
DISPOSITION: The Commission entered into a conciliation agreement providing for Williams to pay a civil penalty of $20,528.
Administrative Fines
The Commission made public 87 closed cases, as follows. For more information, see the case documents in the Administrative Fine search system.
AF 4106 American Composites Manufacturers Association Political Action Committee and John Schweitzer, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4107 Amsted Industries Incorporated PAC and Tristan Paige Lopez, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4108 Anthony Clark 2020 and Anthony Clark, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4109 Aquino4Congress and Sihar Aquino, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $199.
AF 4110 Armitage for Congress and Christopher Armitage, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4111 Art Robinson for Congress and Art Robinson, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $40.
AF 4112 Badrun for Congress and Heidi R. Gliboff, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4113 Bentivolio for Congress and Kerry Bentivolio, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4114 Bill Engelbrecht for Congress and Charles William Engelbrecht, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $132.
AF 4115 Blair for Congress 2020 and Blair Walsingham, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $422.
AF 4117 Brad Barron for US Senate and Jill M. Barron, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $6,735.
AF 4118 Brigid for South Jersey and Brigid Callahan Harrison, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4119 Bronx United and Rush Perez, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4120 Campaign for a Conservative Majority and William Hartford, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $422.
AF 4121 Campaign to Elect Antoine Pierce and Alice Woods, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4122 Campaign to Support the President and Matt Tunstall, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $438.
AF 4123 Champion for Congress and Michael Zugheri, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4124 Christine Mann for Congress and Mari Ramirez, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4125 Citizens for Jade Simmons and Jade Simmons, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $178.
AF 4126 Committee to Elect Frank Mials Scurlock for President and Dwight Thompson, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4127 Committee to Elect HP and Dounia Metouri, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $21,888.
AF 4128 Committee to Elect Joe Walz and Erika Andrea Walz, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4129 Committee to Elect Mauro Garza for US Congress and Iris Elizabeth Castillo, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $2,850.
AF 4130 Committee to Elect Mel Gagarin and Aleda Gagarin, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $274.
AF 4132 Committee to Elect Shelia Bryant and Ava Wellons, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $422.
AF 4133 Covert for Congress and Joseph Iaco, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4134 David Kim for Congress, Financial Freedom, Love & Justice for All and Steven Chun, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $422.
AF 4135 District 1199C Nat'l Union of Hospital & Health Care Employees Political Action Fund and Salima Pace, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $704.
AF 4136 Doug Shreffler Democrat and the Next President of the United States I and Doug Leray Shreffler, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $5,237.
AF 4137 Dr Jay for Congress, Inc. and James C. Thomas, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4138 Eastern Washington Voters and Bryan E. Burke, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $438.
AF 4139 Emily Robinson for Congress and Emily Robinson, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $8,418.
AF 4140 Eugene Yu for Congress and Eugene Yu, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4141 Friends for Mike Webb and Mike Webb, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $9,727.
AF 4142 Friends of Agatha and Herb Stephens, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4143 Friends of Clint Koble and Office of Treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4144 Friends of Russell Cirincione and Russell Cirincione, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4145 Friends of Vangie Williams and Latifa Garrison, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4146 George Mitris for Congress and Thomas Costa, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $6,735.
AF 4147 Georgians for Ted Terry and Kendra-Sue Derby, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4148 Howard Steele for Congress and Andrea Lester, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $6,061.
AF 4150 Janicek for Senate and Office of Treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4151 JFK Organizers and Andy Tarradath, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $1,267.
AF 4152 Jimmy Rodriguez for Congress and Jimmy Rodriguez, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $14,966.
AF 4153 Jineea for Congress and Anita Meador, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $10,288.
AF 4154 John Eaves for Congress and John Henry Eaves, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $438.
AF 4155 Jon Hollis 4 Congress and Jon Hollis, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4156 Jonathan Jenkins for Senate Committee and Office of Treasurer. The Commission made a final determination and assessed a civil penalty of $44,895.
AF 4157 Joshua Collins Campaign Committee and Joshua Collins, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $5,051.
AF 4158 Kilili for Congress and Ruth T. Sablan, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $136.
AF 4160 King for Congress and Craig Williams, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4161 Lake for Congress and Constance Saylease Prater-Baker, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4162 Landslide and Kipchoge Spencer, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $422.
AF 4163 Lindsey Boylan for Congress and Lindsey Boylan, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $704.
AF 4164 Lisa Song Sutton for Congress and Belen Clark, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4165 LV Strong and Christopher Nicholas, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $21.
AF 4166 Marco for Congress and Isabel Solano, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4167 Miles V Rahimi for Congress and Miles V Rahimi, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4168 Narenjamesmdforussenate and Heath Martin, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4169 Nate McMurray for Congress and Catherine M. Campbell, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $1,267.
AF 4170 National Action Committee (NACPAC) and Mark Vogel, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4171 New Republican PAC and Gentry Collins, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $5,933.
AF 4172 For the Many Action and Jonathan Bix, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $4,783.
AF 4173 Patriots for American Leadership and Eddie Shivers, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $4,106.
AF 4174 Plumbers & Pipefitters Local Union 74 Political Action Committee and Michael Hackendorn, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $438.
AF 4175 Pony Up for Vermin Supreme and Clayton Hunt, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $704.
AF 4176 Reba for Congress and Bryon Fredrick McComb, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $13,468.
AF 4178 Rob Anderson for Louisiana and Robert Jon Anderson, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $4,041.
AF 4179 Robert Deming for Congress and Robert Deming, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4180 Ronda Kennedy for Congress 2022 and Michael Warren Kennedy, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $438.
AF 4182 Salvemos a Puerto Rico and Joseph Fuentes, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $30.
AF 4183 Sarah Gad 2020 and Benjamin Nawrocki, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $6,546.
AF 4184 Shaniyat Chowdhury for Congress and Shaniyat Chowdhury, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $4,041.
AF 4185 Stephanie Rimmer for Congress and Jeffrey Stanlis, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $1,267.
AF 4187 Support American Leaders PAC and Matthew Nelson Tunstall, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $17,770.
AF 4188 Sutton for Congress and Justin Lee Farrell, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4189 The 9 and Jeremy Shaw, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $2,863.
AF 4190 The Committee to Elect Lisa Ring, LLC and Jessica Neeley, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4191 The People for Rush Darwish and Bentley Patterson, in official capacity as treasurer. The Commission made a final determination and assessed no civil penalty.
AF 4192 The Surety & Fidelity Association of America Political Action Committee and Dalton Defendis, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4193 Thomas Gilmer for Congress and Thomas Gilmer, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $704.
AF 4194 Together We Thrive and Christopher Zullo, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $6,735.
AF 4195 Tucker for Congress and Shiva Kalipersad, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $1,267.
AF 4196 United American Veterans PAC and Bryan James Monville, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $704.
AF 4197 We Believe We Vote and Kent Clausen, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $351.
AF 4198 WFP IE Committee and Mike Boland, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $12,250.
AF 4199 Women Vote Smart and Amy S. Kremer, in official capacity as treasurer. The Commission made a final determination and assessed a civil penalty of $8,418.
Litigation
End Citizens United PAC v. FEC (21-2128). On January 18, Plaintiff filed a Memorandum of Points and Authorities in Opposition to New Republican PAC's Corrected Motion to Dismiss. Intervenor-Defendant New Republican PAC filed a Combined Response in Opposition to Plaintiff's Motion for Default Judgment or, in the Alternative, Summary Judgment and Cross-Motion for Summary Judgment, as well as a supporting Memorandum of Points and Authorities.
FEC v. LatPAC, et al. (Case No. 21-6095) On January 12, the Clerk of the U.S. District Court for the Southern District of New York entered Default against the Defendants.
Ted Cruz for Senate, et al. v. FEC (Case No. 21-12) On January 19, the U.S. Supreme Court heard oral argument in the case, which arose from the Commission's appeal of the June 3, 2021 ruling by a three-judge panel of the United States District Court for the District of Columbia that section 304 of the Bipartisan Campaign Reform Act (BCRA), which limits the use of post-election contributions to repay candidate loans, is unconstitutional.
Outreach
On January 19, the Commission hosted FECFile and reporting webinars for PACs and party committees.
On January 20, Commissioner Ellen L. Weintraub discussed campaign finance and the role of the Commission with an administrative law class at the Cardozo School of Law in New York.
On January 21-22, Commissioner Shana M. Broussard was the keynote speaker for the University of North Carolina School of Law's First Amendment Law Review's Symposium in Chapel Hill, NC.
Commissioner statements
On January 21, Vice Chair Steven T. Walther announced that he will be stepping down. Chairman Allen Dickerson issued a Statement.
Press releases
Statement from Vice Chair Steven T. Walther (issued January 21)
Upcoming Commission meetings
January 25, 2022: The Commission is scheduled to meet in executive session.
January 27, 2022: The Commission is scheduled to hold an open meeting.
Upcoming educational programs
February 8-9, 2022: The Commission will host a Virtual Conference. This conference was previously scheduled to be held in San Diego, CA, but will now be held virtually.
For more information on upcoming training opportunities, see the Commission's Trainings page.
Upcoming reporting due dates
January 31, 2022: Year-end Reports are due. For more information, see the 2022 Quarterly and Monthly Reporting schedules.
Status of agency operations
See the Commission's statement on the status of agency operations, updated on April 15, 2021. At this stage, most agency staff remain in telework status and the Commission's office remains closed to visitors. See also the agency's Workplace Safety Plan, dated May 6, 2021.
Updated Campaign Guide
The Commission recently updated its Campaign Guide for Congressional Candidates and Committees. The new Guide, which replaces the 2014 edition, provides an overall summary of the federal campaign finance laws that apply to candidates for the United States House of Representatives and United States Senate and their campaign committees.
Additional research materials
Contribution Limits. In addition to the current limits, the Commission has posted an archive of contribution limits that were in effect going back to the 1975-1976 election cycles.
2020 Presidential General Election Results and Federal Elections 2018: Election Results for the U.S. Senate and House of Representatives (https://www.fec.gov/introduction-campaign-finance/election-and-voting-information/federal-elections-2018/) are available. The data was compiled from the official vote totals published by state election offices.
FEC Notify: Want to be notified by email when campaign finance reports are received by the agency? Sign up here: https://fecnotify.fec.gov/fecnotify/login/
Additional research materials about the agency, campaign finance information, and election results are available through the Library section (https://transition.fec.gov/general/library.shtml) of the Commission website.
The Combined Federal State Disclosure and Election Directory is available. This publication identifies the federal and state agencies responsible for the disclosure of campaign finances, lobbying, personal finances, public financing, candidates on the ballot, election results, spending on state initiatives and other financial filings.
The Presidential Election Campaign Fund Tax Checkoff Chart provides information on balance of the Fund, monthly deposits into the Fund reported by the Department of the Treasury, payments from the Fund as certified by the FEC, and participation rates of taxpayers as reported by the Internal Revenue Service. For more information on the Presidential Public Funding Program, see the Public Funding of Presidential Elections page: https://www.fec.gov/introduction-campaign-finance/understanding-ways-support-federal-candidates/presidential-elections/public-funding-presidential-elections/
The FEC Record (https://www.fec.gov/updates/?update_type=fec-record) is available as a continuously updated online news source.
Other election-related resources
Videos on protecting U.S. elections. The FBI's Protected Voices initiative provides videos designed to help political campaigns protect themselves from foreign influence. The 2019 videos offer guidance on ransomware, business email compromise, supply chain, social media literacy, and foreign influence operations. Other videos, released in 2018, include cyber hygiene topics such as social engineering, patching, router hardening, and app and browser safety.
Join the FEC on Twitter and YouTube
Follow @FEC on Twitter to receive the latest information on agency updates, news releases, and weekly activity. Subscribe to our YouTube channel, FECTube: FECConnect on Demand, to watch instructional videos that have been designed to help candidates and committees comply with federal campaign finance laws. Note that the FEC is not currently available through other social media platforms. The use of the agency's logo, name, and likeness on other media has not been authorized by the FEC.
FDIC Approves Final Rule Regarding Deposit Insurance Simplification
WASHINGTON, Jan. 22 -- The Federal Deposit Insurance Corporation issued the following news release on Jan. 21, 2022:
The Federal Deposit Insurance Corporation (FDIC) today approved a final rule to simplify aspects of the agency's deposit insurance coverage rules.
The final rule simplifies deposit insurance coverage for deposits held in connection with revocable and irrevocable trusts by merging these two deposit insurance categories and applying a simpler, common calculation to determine coverage. Currently, the FDIC receives more inquiries related to deposit insurance coverage for trust deposits
... Show Full Article
WASHINGTON, Jan. 22 -- The Federal Deposit Insurance Corporation issued the following news release on Jan. 21, 2022:
The Federal Deposit Insurance Corporation (FDIC) today approved a final rule to simplify aspects of the agency's deposit insurance coverage rules.
The final rule simplifies deposit insurance coverage for deposits held in connection with revocable and irrevocable trusts by merging these two deposit insurance categories and applying a simpler, common calculation to determine coverage. Currently, the FDIC receives more inquiries related to deposit insurance coverage for trust depositsthan all other types of deposits combined.
The final rule will make the trust rules consistent and easier to understand for bankers and depositors and will facilitate prompt payment of deposit insurance by the FDIC in the event of an insured depository institution's failure. Meanwhile, the FDIC expects that the vast majority of trust depositors will experience no change in the coverage for their deposits when the final rule takes effect.
Additionally, the final rule amends the rule that governs coverage for mortgage servicing accounts to allow principal and interest funds advanced by a mortgage servicer to be included in the deposit insurance calculation.
The final rule will take effect on April 1, 2024.
FDIC: PR-4-2022
Attachment:
Final Rule: https://www.fdic.gov/news/board-matters/2022/2022-01-21-notational-fr-a.pdf
Fact Sheet: https://www.fdic.gov/news/fact-sheets/final-rule-trust-mortgage-accounts-01-21-22.pdf
