attorney Tag Archives — Securities Fraud Lawyers Blog

Fair Lending Enforcement Roll-Backs at CFPB Could be Sign of Changing Times

Published on: February 23, 2018 | by Savage Villoch Law, PLLC

Could this be the beginning of the end of the Consumer Financial Protection Bureau as we know it?

This month The Trump administration, through acting CFPB Director Mick Mulvaney, announced sizeable restrictions to CFPB’s enforcement and day-to-day oversight of the financial industry’s fair lending practices. The move comes shortly after Mulvaney was installed as Acting Director following the departure of Richard Cordray.

Speculation of the CFPB’s impending dismantlement under the Trump Administration has been swirling since the election and this is just one of the latest in a series of moves pertaining to the CFPB that lends some credence to that speculation.

My Big Co(i)n: Cryptocurrency Scams Play on Same Old Tricks

Published on: February 2, 2018 | by Savage Villoch Law, PLLC

Bitcoin – Big Coin – Bitcoin – Big Coin…

Read that over a few times. Are those two words beginning to sound similar?

That’s what the founders of My Big Coin, Inc. were hoping when they created their cryptocurrency investment offering. The Nevada-based company has been accused of defrauding investors hoping to cash-in on the recent investment trend.

Regulators’ Concerns Grow Amid Cryptocurrency Investing Boom

Published on: January 5, 2018 | by Savage Villoch Law, PLLC

“Cryptocurrency”, “blockchain”

These are the buzz words among investors as we head into 2018. Building on the success and popularity of Bitcoin – which seems to be hitting new record highs every week – has caused a stir among investors, and it’s getting the attention of businesses.

As investors look to find out how they can invest in the emerging cryptocurrency boom, startups and businesses are trying to find ways to capitalize. Initial Coin Offerings (ICOs) have started popping up as opportunities for investors to get involved with cryptocurrency investing at ground-level. However, financial regulators say investors need to be aware of fraud risks.

Investing 101: Wrap Fees Explained

Published on: December 8, 2017 | by Savage Villoch Law, PLLC

If you’ve looked into hiring an investment adviser or advisory firm to help manage your investments, you may have seen some offer various advisory services bundled together under one comprehensive fee. These types of service fees are called wrap fees and are offered as sponsored packages by many advisory firms.

With wrap fee programs, your advisor or firm serves as the “sponsor” for the program; essentially the liaison between you and your service offerings. Typically, the fee for these types of programs is determined by the overall value of your investment account. While it may seem easy enough on your end to just pay one flat fee for a bundling of advisory services, there are things you need to watch for when considering wrap fee programs.

Understanding Wrap Fees

Coming This December: Federal Rate Hikes… (More in 2018)

Published on: December 1, 2017 | by Savage Villoch Law, PLLC

There’s been chatter recently among economic experts that federal rate hikes would likely soon be on the way. Since 2016, the Federal Reserve has risen interest rates three times, but they’ve not not made any definitive announcements on the further hikes, leaving it open to speculation when they’d actually be introduced.

It appears that economists and experts have now been able to reach a consensus. In fact, it appears that the recent Senate tax reform bill passed on Friday may have forced the Fed’s hand. In a recent article, Reuters reports that the recent legislation has forced a shift in risk-forecasting; toward a need for higher federal rate hikes and sooner.

According to the article, experts are projecting three rate hikes between now and 2019. This is actually in accordance with the Fed’s own projections, however the reasoning is up for debate.

With Cordray’s Resignation, What’s Next for the CFPB?

Published on: November 17, 2017 | by Savage Villoch Law, PLLC

This week, Richard Cordray handed in his resignation as head of the Consumer Financial Protection Bureau (CFPB). The early resignation comes at a time of increased criticism over current financial regulations and an uncertain outlook for many regulatory bodies. The CFPB especially, has been subject of intense criticism from the financial industry as overbearing and stifling.

As Director, Cordray was very much the face and voice of the bureau. Under Cordray, the Consumer Bureau held very close to the guiding tenets under which it was created: to protect financial consumers from unethical behavior. His departure leaves senior officials in the bureau and supporting lawmakers scrambling to secure the future of the CFPB against a regulatory overhaul.

What exactly is the CFPB?

Fed Implores Congress to Preserve Key Financial Regulations

Published on: November 3, 2017 | by Savage Villoch Law, PLLC

In his remarks to Congress, out-going New York Federal Reserve President William Dudley implored lawmakers to preserve and maintain key financial regulation measures in face of growing support for review of standing requirements.

Dudley recently announced his decision to retire from his position earlier (mid-2018) than his term allots. According to a Reuters article, part of Dudley’s responsibilities as New York Fed President extend to being a “point-person” for Wall Street. The New York branch serves as the Fed’s eyes and ears on Wall Street, providing on-the-ground reports of activity to the central bank.

“Do no harm”

(Capital) Loss Can Be Your Gain: Leverage Your Stock Loss into Tax Deductions!

Published on: October 18, 2017 | by Savage Villoch Law, PLLC

Nobody wants to lose out on an investment, but did you know that stock loss – also known as capital loss – can actually be leveraged into savings on future investments through tax deductions? While it may sound strange, converting stock loss into savings is actually a widely used strategy for many seasoned investors.

Once you understand how tax laws apply to your capital losses, you will quickly see the benefits of reporting them. You will be able to form strategies that actually take advantage of stock losses ahead of time. Once an investment starts to head south, you’ll be able to make the right decisions to mitigate that loss.

Stock Loss Deductions

Who’s Watching the Watchdogs? SEC Hack Exposes Critical Financial Regulation Faults

Published on: September 23, 2017 | by Savage Villoch Law, PLLC

SEC Hack Exposes Critical Security Faults

On Thursday, it was announced that the Securities and Exchange Commission (SEC), the nation’s top finance and securities regulator, had experienced a critical cyber security breach. The breach, which occurred in 2016, allowed hackers access to the SEC’s EDGAR system, a database which houses corporate filings and announcements for a multitude of Wall Street firms.

The SEC hack has shaken investors and lawmakers as it poses serious questions regarding the SEC’s security measures and protocol. It is also possible that hackers may have profited on the insider info by trading on it. According to a Reuters report, the database contained sensitive, “market-moving information”.

Ahead of Fed Announcement, Financial Investing on Wall Street Rebounds

Published on: September 15, 2017 | by Savage Villoch Law, PLLC

Financial Investing Pushes Wall Street Rebound

This week, market analysts and investors saw Wall Street regaining upward traction. Dow and S&P indexes soared to record weekly gains, buoyed by a flurry of trading activity. According to a Reuters report, financial investing has been one of the major drivers, followed by industrial and tech.

Financials