Yesterday, the Consumer Financial Protection Bureau updated its process for designating a nonbank for supervision. Initially issued in 2013, the revised rule specifically establishes the CFPB’s procedures in determining whether a nonbank “poses risk to consumers” and is thus subject to the Bureau’s supervisory authority. The CFPB has had the authority to supervise such nonbanks since its creation. But it was not until 2022 that the CFPB announced that it would begin to use this so-called “dormant authority” to examine nonbanks. Last year, the CFPB initiated several supervisory-designation proceedings against nonbanks under that previously dormant authority, leading to the Bureau’s first-ever order in a contested matter establishing supervision over a nonbank. 

Behrman Capital has announced the acquisition of Vista Apex.

Vista Apex, founded in 1997 and based in Racine, Wisconsin, is a manufacturer of consumable dental products for preventative oral hygiene, endodontics and restorative dentistry.

Behrman, founded in 1991 and based in New York, seeks to make control investments in middle market North American…

On April 2 and 3, 2024, U.S. Securities and Exchange Commission Chair Gary Gensler, Division of Enforcement Director Gurbir Grewal and other senior SEC officials convened at the SEC Speaks conference held in Washington, DC to discuss the SEC’s accomplishments in fiscal year 2023 and announce its priorities for 2024. 

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Is Your Entity in Compliance?

The Health Insurance Portability and Accountability Act of 1996, as modified by the Health Information Technology for Economic and Clinical Health Act of 2009 (HIPAA) requires covered entities and their business associates to implement policies and procedures to prevent, detect, contain and correct security violations. Under…

The Centers for Medicare & Medicaid Services (CMS) recently released data on its 2023 settlements of voluntary self-disclosures related to past violations or potential violations of the physician self-referral law (the Stark Law). In 2023, CMS settled an agency record 176 self-disclosures, with settlement amounts totaling over $12,000,000 in the aggregate. Both totals exceeded its prior records, set the prior year, when CMS settled 103 self-disclosures with settlement amounts totaling over $9,000,000 in the aggregate as we reported last fall.