State Regulators Issue $80 Million Penalty to Block, Inc., Cash App for BSA/AML ViolationsWashington, D.C., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Washington, D.C.— In a coordinated enforcement action by 48 state financial regulators, Block, Inc. will pay an $80 million fine and undertake corrective action for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.
State Regulators Levy $20 Million Penalty on Nation’s Largest Nonbank Mortgage Servicing CompanyWashington, D.C., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Washington, D.C.— Fifty-three state financial regulatory agencies have taken coordinated action against mortgage company Bayview Asset Management LLC and three of its affiliates, Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings (collectively the Bayview Companies), for deficient cybersecurity practices and for not fully cooperating with state regulators following a data breach that impacted 5.8 million customers.
