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Covering Mortgage Lending, Securities Fraud, Malware, One Big Beautiful Bill Act, Consent Judgment. Key regulatory updates covering Mortgage Lending license revocations, Securities Fraud injunctions, malware-related compliance, the One Big Beautiful Bill Act lease sale, and recent Consent Judgments in communications enforcement.
Regulatory news, updates, and insights for USA presented by the Carver Agents team
Welcome to Carver's USA Regulatory Updates for March 15, 2026.
The California Department of Financial Protection and Innovation revoked the license of West One Capital Group Inc. effective March 10, 2026. The revocation was pursuant to Financial Code section 50401(d) due to the company’s failure to pay required assessments on time. Licensees must pay annual assessments within prescribed deadlines, and failure to pay within 30 days after the due date can result in summary suspension or revocation of the license. Upon revocation, licensees must cease business activities unless otherwise ordered.
The United States Department of Labor announced a settlement agreement requiring payment of $1.08 million in back wages and damages to 24 warehouse workers who were paid below minimum wage and denied overtime pay. This settlement enforces compliance with the Fair Labor Standards Act, or F-L-S-A, wage requirements.
The Federal Communications Commission’s Office of Engineering and Technology is seeking public comment on a petition by Durin, Inc. The company requests a waiver of Sections 15.519(a) and 15.519(a)(2) of the FCC’s rules to permit certification and marketing of its Door Manager security system, which uses an ultra-wideband transmitter operating in the 6 to 10 gigahertz band. Interested parties must file comments by April 8, 2026, and reply comments by April 23, 2026, referencing the FCC’s public notice and filing through the Electronic Comment Filing System or by paper as specified.
The United States Securities and Exchange Commission obtained court judgments permanently enjoining Randall J. Miller, Chad J. Miller, Jeffrey De Laveaga, and Jeffrey Puzzullo from securities law violations related to fraudulent municipal bond offerings. The defendants are barred from participating in securities issuance, purchase, offer, or sale except for personal accounts. They are enjoined from violating Sections 10(b) and 17(a) of the securities laws and Rule 10b-5. The court will determine disgorgement, prejudgment interest, and civil penalties upon SEC motion.
The United States Department of the Interior held the second offshore oil and gas lease sale under the One Big Beautiful Bill Act in the Gulf of America. The sale generated significant high bids and applied a 12.5 percent royalty rate for leases, marking the lowest deepwater rate since the George W. Bush administration. Participants must comply with lease terms and procedures as outlined in the Federal Register notice.
The Federal Reserve Board approved the acquisition and merger transaction involving CBS Banc-Corp, TAG Bancshares Inc., and Citizens Bank & Trust. The approval followed a regulatory review of financial, managerial, competitive, and community impact factors. CBS Banc-Corp must ensure all activities of TAG and its subsidiaries conform to permissible activities under the Bank Holding Company Act and Regulation Y or be divested. Post-transaction, CBS is required to apply risk-management policies and controls and maintain compliance with the Community Reinvestment Act and fair lending laws.
In California, the Commissioner revoked the escrow agent license of Melrose Escrow, Inc. due to failure to submit a closing audit report, annual audit report, financial statements, and failure to complete the license surrender process. Licensees must submit a closing audit report performed by an independent certified public accountant upon license surrender request, file annual audit reports within 105 days after fiscal year-end, and complete the surrender process including returning the license and reconciling or escheating trust accounts.
The United States Federal Communications Commission’s Enforcement Bureau settled with Yonder Media Mobile Inc. for unauthorized operations. Yonder Media Mobile must implement a compliance plan within 90 days of the effective date, designate a compliance officer within 30 days, and develop operating procedures and a compliance manual. The settlement includes a $60,000 voluntary contribution and requires adherence to section 214 of the Communications Act and FCC rules.
The FCC’s Enforcement Bureau issued a final determination order against Belthrough LLC for non-compliance with robocall mitigation rules. Belthrough’s certification was removed from the Robocall Mitigation Database, and all immediate downstream providers must block and cease accepting all traffic from Belthrough within 30 calendar days of the order release. Providers may block sooner if they notify the FCC with justification. Belthrough cannot refile for certification without FCC approval.
That wraps up today's regulatory updates. Visit carveragents.ai for more information.