Bayview Fined $20M for Cybersecurity Lapses

The Office of Financial Regulation and 52 state agencies fined Bayview Asset Management and its affiliates $20 million for deficient cybersecurity practices and failure to cooperate following a data breach impacting 5.8 million customers. The companies must also implement corrective actions and undergo independent assessments.

Vanguard Agrees to $106 Million Multistate Settlement

Vanguard has agreed to a $106 million multistate settlement with state securities regulators and the SEC for failing to supervise registered persons and disclose tax consequences to investors. The settlement aims to compensate over 10,000 Florida investors and potentially hundreds of thousands nationwide for capital gains taxes incurred due to fund changes.

OFR Settles with Binance.US Money Transmitter in Florida

The Florida Office of Financial Regulation (OFR) has reached an agreement with BAM Trading Services, Inc. (Binance.US), a licensed money transmitter. This settlement addresses procedures to protect Floridians and the marketplace, following a prior multi-state settlement related to a felony conviction.

WHD Updates Child Labor Penalty Assessment Procedures

The Wage and Hour Division (WHD) has updated its Field Assistance Bulletin regarding child labor civil money penalty assessments. This update introduces new assessment procedures for non-serious injury and non-injury violations, aiming to ensure consistent and full utilization of the agency's penalty authority.

DOL WHD Guidance on FLSA Independent Contractor Enforcement

The Department of Labor's Wage and Hour Division (WHD) issued Field Assistance Bulletin No. 2025-1, providing new guidance to its staff on enforcing the Fair Labor Standards Act (FLSA) regarding independent contractor misclassification. Effective May 1, 2025, WHD will no longer apply the 2024 Rule's analysis and will revert to the standards outlined in Fact Sheet #13 (July 2008) and Opinion Letter FLSA 2019-6.

H-2A Rule Enforcement Suspended Pending Review and Injunctions

The U.S. Department of Labor's Wage and Hour Division is suspending enforcement of the 2024 Final Rule concerning temporary agricultural employment protections. This action follows multiple federal court injunctions and is effective immediately.

WHD Limits Supervised Payments, No Liquidated Damages

The U.S. Department of Labor's Wage and Hour Division (WHD) issued Field Assistance Bulletin No. 2025-3, effective June 27, 2025, rescinding FAB 2021-2. The WHD will no longer supervise the payment of liquidated damages in administrative settlements under the Fair Labor Standards Act (FLSA), limiting supervised payments to unpaid minimum wages or overtime compensation.

WHD Suspends 2013 Home Care Enforcement Guidance

The U.S. Department of Labor's Wage and Hour Division (WHD) has issued Field Assistance Bulletin No. 2025-4, suspending enforcement of its 2013 final rule concerning the Fair Labor Standards Act (FLSA) application to domestic service employees. This guidance is effective immediately and will remain in place until a new final rule is issued.

HHS OIG: West Virginia Failed to Collect $6.1M in Medicaid Drug Rebates

The HHS Office of Inspector General found that West Virginia failed to collect an estimated $6.1 million in federal rebates for physician-administered drugs dispensed to Medicaid managed-care enrollees. The audit identified failures in internal controls that prevented the state from invoicing manufacturers for these rebates.

ACF Contract for Unaccompanied Alien Children Services Noncompliant

The HHS OIG found that the Administration for Children and Families (ACF) awarded a $529 million sole source contract for unaccompanied alien children services in a noncompliant manner. The contract was double the cost estimate and lacked required pre-award documentation.