The Department of Justice’s Antitrust Division announced today that it is seeking public comments into whether the division should revise the 1995 Bank Merger Competitive Review guidelines (“Banking Guidelines”) to reflect emerging trends in the banking and financial services sector and modernize its approach to bank merger review under the antitrust laws. Today’s announcement is part-and-parcel of the division’s broader efforts and increased focus on protecting competition in the financial markets and follows the recent remarks and announcement by Assistant Attorney General for the Antitrust Division Makan Delrahim, concerning the realignment of commodities at the division.
Phillip Cline, Jr., 39, of Elkton, Maryland, pleaded guilty today to making threatening interstate communications. Cline admitted that during a recorded phone conversation with an employee of an auto loan business, Cline threatened to physically harm the employee, whom he described using racial epithets.
A Michigan man was arrested today in connection with a wire fraud scheme involving $3.1 million in Paycheck Protection Program (PPP) loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Four individuals responsible for mass-mailing fraud schemes were charged with allegedly defrauding thousands of elderly and vulnerable victims, the department announced today.  Two U.S. individuals and two Canadian individuals were charged for their roles in operating the schemes, which collectively caused tens of millions of dollars in victim losses.  Two defendants were charged in the Eastern District of New York and two defendants were charged in the District of Nevada.
A Colorado man was sentenced today by U.S. District Court Judge Dale A. Drozd to 11 years in prison.
A North Carolina man pleaded guilty today to perpetrating three schemes between March and July 2020 connected to the COVID-19 pandemic, through which he defrauded consumers and the federal government’s relief programs. 

            

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