NY DFS Enforcement Actions

Block, Inc. Consent Order with NY DFS

The New York State Department of Financial Services (DFS) has entered into a consent order with Block, Inc. (formerly Square, Inc.) resolving an enforcement investigation into deficiencies in its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program and violations of consumer protection regulations. Block will pay a penalty to resolve these matters.

NY DFS Consent Order to Roach & Murtha

The New York State Department of Financial Services (DFS) issued a consent order to Roach & Murtha, Attorneys at Law, P.C. The order addresses violations of the Fair Debt Collection Practices Act (FDCPA) related to debt collection practices between January 1, 2018, and December 31, 2022. The firm failed to conduct meaningful attorney review, used deceptive representations, and employed unfair means to collect consumer debts.

Wise US Inc. Consent Order with Multiple States

Wise US Inc. has entered into a Consent Order with six states (California, Minnesota, Nebraska, New York, Texas, and Massachusetts) following a multi-state examination. The examination identified deficiencies in Wise's Bank Secrecy Act/Anti-Money Laundering/Countering the Financing of Terrorism (BSA/AML/CFT) program, including issues with independent reviews, suspicious activity reporting, and transaction monitoring.

NY DFS Consent Order to Paxos Trust Company

The New York State Department of Financial Services (DFS) issued a consent order to Paxos Trust Company, LLC. The order resolves findings that Paxos failed to conduct proper due diligence on Binance and maintain effective anti-money laundering programs, as required by a 2020 letter agreement.

Healthplex Inc. Consent Order with NY DFS

The New York State Department of Financial Services (DFS) issued a consent order against Healthplex, Inc. for violations of the state's Cybersecurity Regulation. Healthplex will pay a penalty and must implement corrective actions to comply with data protection and multi-factor authentication requirements.