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22

The reason that you are being asked to comply with a US law is because PayPal, a US company, is required to comply with US laws. If you do not comply, it is likely that they will be non-compliant and subject to sanctions. For more background, FATCA reporting is used to identify businesses that a company does business with. In this scenario PayPal does ...


19

Let's start with the most important point first: A campaign finance violation is not a ground to remove an elected official from office, no matter how egregious, on its own, even if one could prove that the campaign finance violation probably caused the outcome of an election to change. Congress could decide, however, that a campaign finance violation ...


14

Defaulting on student loans is—along with back taxes and child support—one of the three cases where a court order is not required for wage garnishment. This article spells out remedies against such defaults. For example, they can intercept your tax refund, Social Security payments, or your wage. They can take up to 15%, but not more than 30 times the ...


12

If, at the time of application for the loan, the borrower has no intention of repaying, it appears that it is a crime. From California Penal Code section 532: (a) Every person who knowingly and designedly, by any false or fraudulent representation or pretense, defrauds any other person of money, labor, or property, whether real or personal, or who causes ...


9

Your bank is not discriminating against you. Your reasons for not having the required amount of funds pass thru your account has nothing to do with your marital status. In general, it's problematic to make a chain-of-cause-and-effect argument for discrimination. For example. Your argument is analogous to the following. My boss fired me for being late ...


8

Visa is incorporated in Delaware. So is MasterCard. In addition, both are headquartered in the US, have huge quantities of assets in the US, do lots and lots of business in the US in a highly regulated sector, and their very existence depends on their ability to interact with the US banking system. The US has the authority to regulate all of these things, ...


8

Q: Why don't US prosecutors press for imprisonment for crime in the banking industry? Q. Why aren't US prosecutors (and UK prosecutors for that matter) not pressing for imprisonment in such cases? Is this because there are no such laws under bankers can be so indicted (notably, in the case reported on above, there is the additional ...


7

I will assume for this question you are referring to a US Department of Education backed loan. In that case, according to the US DoE website: If you, the borrower, die, then your federal student loans will be discharged. If you are a parent PLUS loan borrower, then the loan may be discharged if you die, or if the student on whose behalf you obtained the ...


6

I can see at least two defenses. Game of Skill Defense. Already mentioned in the comments. Entertainment Defense. One could claim the game itself is a form of entertainment and, therefore, all funds spent while playing the game are for entertainment purposes only vis-a-vis the game itself. And not any alleged gambling within the game. Consider the fact that ...


6

Technical violations can result in fine imposed by the Federal Election Commission. They provide this booklet, and these regulations are applicable. This regulation spells out how the fine is computed. The Dept. of Justice will handle any criminal accusations, and here is their handbook. To be criminally prosecutable, the act must be done knowingly and ...


5

Both of your question are creatures of contract. Their disclosures when you set up the account (or potentially amended disclosures or terms they've mailed to you subsequently) control both of these questions. They don't have to share the results of their internal investigation against you (they do have to give you proof that the deposit/transfer was ...


5

The President wouldn't be in breach of Insider Trading Laws (Section 10b of the Securities Exchange Act) since he has no information resulting from a position of trust within Twitter (or as a trusted provider of services) and no ability to depress their stocks through intentionally fraudulent practices. [O]ne who fails to disclose material information ...


5

It is unlikely that you could successfully sue the bank for breach of contract, but of course the first thing you should do is carefully read the agreement and see exactly what they promised. It is understandable that you would like to get your money right now, but that isn't necessarily guaranteed under the agreement. Assuming there is no statement in the ...


5

You owe money if there is a contract obliging you to pay. Whether you receive what you pay for (e.g. services) only affects your stance when suing for non-performance/damages; your obligation to pay still stands until the court decides it does not (or there is a mutual agreement to discharge the contract). It is irrelevant whether the original payment ...


5

Dale has the right answer, but I'd like to elaborate on why it isn't lawful (as compared to why it would be unlawful). I know it doesn't work that way on line, but it's simpler to think of a credit card as a physical piece of plastic. The bank will have issued this to their customer. It will have a number and an expiry date. You have no way of knowing ...


5

You can file a complaint with the CFPB regarding 12 CFR §1005.10(e)(2)-1. Your individual state Department of Labor may enforce similar state level regulations too. And, yes, this technically falls under the FDIC as well. You can also file a complaint with them, although it's very unlikely they would pursue any action against a non-bank employer. The FTC ...


4

Regarding to your instructions concerning the funds in the account, it's hard to prove a negative. As far as I know there is no legislation that requires a credit balance to be retained. However, there may be some regulations or internal policies regarding the closure of home loans, which may preclude closure without some documentation or other process. ...


4

It's essentially a legally enshrined incentive for high net worth investors to supply capital, which is consistent with the other entities that qualify in § 230.501. It tends to come with increased access to riskier offerings, where the risk ensues from exempted registration. While nominal dollar thresholds typically get eroded away by inflation, they ...


4

I reported this to my bank as soon as I found out, and Chase said that the money would be reimbursed once they completed their investigation (within 10 business days). Chase was likely indicating that the money will be reimbursed within 10 business days of completing their investigation; not 10 business days from the date you told the that someone forged ...


4

I am not a lawyer. This depends entirely on jurisdiction and the specific laws therein. The common law rule of inheritance is that all creditors (which the lender would be) make claims on the estate. After these are paid, any remaining assets are distributed in accordance with the will or applicable law. If there are insufficient assets to satisfy all ...


4

This sounds like a really bad communication issue. I would contact the company to find out what is up and inform them politely that they have been given more than a "reasonable" time to release the 401k. I would also inform them that they need to expedite the notice and offer to stay on the phone while they contact the plan administrator. If they give you ...


4

First of all, this is not insider trading: insider trading is using non-public information to trade a publicly tradable security. What this could be is misuse of confidential information - a civil tort. The disclaimer does not create a legally binding contract for a number of reasons but it does alert the recipient that the information is confidential: if ...


4

Page 1 of OGE form 278e says WARNINGS Knowing and willful falsification of information, or failure to file or report information required to be reported by section 102 of the Ethics in Government Act of 1978, as amended (the Act), may subject you to a civil monetary penalty and to disciplinary action by your employing agency or other ...


4

Yes. You could use student loan proceeds for these purposes. Student loan proceeds are not tracked or traced. If you did so on a wholesale basis (taking out loans intending to cancel your courses before tuition it due to raise money for other purposes), you might be engaged in loan fraud, but since student loans cannot be discharged in bankruptcy, while ...


4

The accusation would be the crime of securities fraud ("insider trading" is legally meaningless), under 15 USC 78j(b). There is a bit more elaboration in 17 CFR 240.10b5-1. That law prohibits using "any manipulative or deceptive device or contrivance in" in connection with a securities transaction. Under 15 USC 78ff, violation of the law can result in ...


4

To start with, this is a highly technical issue upon which different jurisdictions may differ, and in which different rules may apply in different circumstances either by agreement or by statute. Also, similar situations are sometimes treated differently in this regard in bankruptcy and out of bankruptcy. The majority rule is that the lender may choose ...


4

I'm assuming it would NOT be a good idea to just accept the funding as a person (sole proprietorship). Correct. Would the time be right to form the LLC first, before starting the campaigns on the crowdfunding sites? Or would it be permissible for the entity to be formed IF and once the funding is available? For instance, if the campaign on ...


4

Each directives page on eur-lex has a "national transposition" page. For example, directive 2009/65/EC, concerning UCITS, is available at https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=celex:32009L0065. There is a navigation box at the top left with several relevant pages: Text Document information Procedure National transposition Summary of ...


4

This is a rather elaborate version of receiving stolen property. It is a crime because you know that the property is not yours and you know who it belongs to. The fact that funds were returned mitigates the punishment that might be imposed, but disgorgement of profits as well as principal would be a typical criminal restitution in such a case. A prosecutor ...


4

In essence, Schwab is stating that they are not a law enforcement agency and they have neither the interest nor the legal right to pursue criminals. They state that they will assist law enforcement but also tell you that, from their experience, law enforcement while they have the legal right also don't have any interest in doing so. This is completely ...


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