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Order against Milner Legal Services - Consumer Collection Violations

The Connecticut Department of Banking has issued an order against Milner Legal Services for violations of consumer collection laws, including operating without a license and making false representations. A civil penalty of $100,000 has been imposed.

Buyers Holdings LLC - Cease and Desist Order for Unlicensed Collection Activity

The Connecticut Department of Banking has issued a temporary order to cease and desist against Buyers Holdings, LLC for engaging in unlicensed consumer collection activity. The company is also ordered to make restitution and faces potential civil penalties for violations of state statutes.

Illinois Issues Cease and Desist Order to Kirk J. Reeves

The Illinois Department of Financial and Professional Regulation has issued a cease and desist order against Kirk J. Reeves for operating businesses using the terms "bank" and "trust" without proper authorization. The order cites violations of the Illinois Banking Act and the Corporate Fiduciary Act.

Bank of England to feature UK wildlife on banknotes

The Bank of England announced that UK wildlife will feature on the next series of banknotes following a public consultation. A second consultation will be held this summer to determine specific wildlife choices. The new banknotes will incorporate the latest anti-counterfeiting technology and are expected to be issued in a few years.

BaFin Fines VR Bank Dreieich-Offenbach 18,000 Euros

Germany's BaFin has fined VR Bank Dreieich-Offenbach eG 18,000 Euros for failing to implement adequate measures for proper reporting of payment accounts for the BaFin account comparison. The decision became legally binding on February 12, 2026.

BaFin Fines Raiffeisenbank-Volksbank Fresena eG

Germany's BaFin has fined Raiffeisenbank-Volksbank Fresena eG €22,500 for failing to implement adequate measures for proper reporting of payment accounts for the BaFin account comparison. The decision became legally binding on February 28, 2026.

FCA Speech on Payments Regulation and Consolidation

David Geale, FCA executive director, delivered a speech at the MoneyLIVE Summit on March 10, 2026, discussing the consolidation of the Payment Systems Regulator (PSR) into the FCA. The speech emphasized a joined-up approach to growth, innovation, and consumer protection, aiming to simplify engagement for firms.

SEC Administrative Proceeding Against Rimar Capital for Fraud

The SEC has issued a notice of a proposed plan of distribution for funds collected in an administrative proceeding against Rimar Capital USA, Inc., Rimar Capital, LLC, Itai Royi Liptz, and Clifford Todd Boro. The proceeding found fraudulent conduct related to SAFE offerings and misrepresentations about an AI trading platform, resulting in penalties and disgorgement orders.

UK Mortgage Lending Statistics Q4 2025

The Bank of England's Q4 2025 Mortgage Lenders and Administrators Statistics show outstanding mortgage loans increased by 0.8% to £1,734.4 billion. Gross mortgage advances decreased by 1.3% to £79.4 billion, while new commitments fell by 11.9%. The share of lending with high LTV and LTI ratios increased.

BaFin Warns Trade Republic Bank Customers of Social Engineering Fraud

Germany's BaFin has issued a warning to customers of Trade Republic Bank regarding social engineering fraud. Scammers are impersonating the bank to trick customers into transferring funds to external accounts or crypto wallets. BaFin advises customers to ignore such requests and contact the bank's official in-app support.