Category: Financial Crime

CBI ARRESTS TWO MORE ACCUSED INCLUDING FOREIGN NATIONALS IN AN ON-GOING INVESTIGATION OF A CASE RELATED TO BANK FRAUD INVOLVING WRONGFUL FORE-CLOSURE OF CHENNAI PORT TRUST’S FIXED DEPOSITS

Central Bureau of Investigation

September 22, 2021

The Central Bureau of Investigation has arrested two more accused including foreign nationals in an on-going investigation of a case related to Bank fraud in which fixed deposits of Chennai Port Trust (CPT) were fore-closed/pre-closed fraudulently.

ACTING SUPERINTENDENT OF FINANCIAL SERVICES ADRIENNE A. HARRIS ANNOUNCES NEW PROPOSED REGULATION PROMOTING TRANSPARENCY IN LENDING TO SMALL BUSINESSES

NY Dept of Financial Services

September 21, 2021

Acting Superintendent of Financial Services Adrienne A. Harris today announced a new proposed regulation that will improve transparency for small businesses seeking commercial financing. The new proposed regulation requires companies that offer commercial financing in amounts under $2.5 million to make standardized disclosures about the terms of credit. These standardized disclosures will help businesses and individuals understand and compare the terms of different commercial financing offers. These disclosures are especially important as small businesses, hit hard by the pandemic, fight to regain their footing.