Category Archives: Consumer Financial Protection Bureau

81% of ICO’s May Be Scams

A recent study by the crypto-currency consulting firm Satis Group of initial coin offerings greater than $50 million has classified them as either a “scam,” “failed-pre-trading,” “gone dead-pre-trading,” “dwindling-trading,” “promising-trading,” or “successful-trading.” Their conclusion was “On the basis of the … Continue reading

Posted in accredited investor, balance, Banks, checkbook, Congress, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, fraud, Funding Portals, Jobs, Legislative Intent, review, SEC, technology, VC, Venture Capital | Tagged , , , , , , , , , , , , , , , | Leave a comment

Crowdfunding ICO With Mystery Partner

Would you invest in a company that MAY have a “mystery partner”? Under the Securities Act of 1933, investors are entitled to “full and fair disclosure” about the company offering the securities. But when a company is crowdfunding for “donations” … Continue reading

Posted in accredited investor, balance, CFTC, Congress, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fraud, Funding Portals, Investments, Jobs, Legislative Intent, States, technology, VC, Venture Capital | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Company Claims To Insure Vs. Crowdfunding Fraud

There’s a company that claims to be insuring donors against crowdfunding fraud. It’s website says that: “If a campaign you back turns out to be fraudulent, [they] will refund each dollar you lost.” The premium is cheap, $10 for 1 … Continue reading

Posted in accredited investor, balance, Broker dealers, checkbook, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, fraud, Funding Portals, Investments, Jobs, Legislative Intent, review, SEC, Small Business, technology, unfair and deceptive practice | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

The Rise of Serial Crowdfunding Scammers

Perhaps someone should start a Black Book of serial crowdfunders who raise large sums of money and continually fail to deliver on their promises of finished products. One complaint comes from HeatStreet where it alleges that so-called “social justice warriors” … Continue reading

Posted in accredited investor, Broker dealers, Charity, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, Investments, Jobs, Legislative Intent, SEC, Small Business, unfair and deceptive practice, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Wall Street Attempts To Push Out Crowdfunding Lenders

Wall Street is stepping into a vacuum left by crowdfunder Lending Club by initiating a new consumer lending platform named “Marcus.” If you are invited to the party (with a code), you will be able to borrow up to $30,000 … Continue reading

Posted in Banking, Banks, Broker dealers, CFPB, checkbook, Congress, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Department of the Treasury, deposits, Dodd Frank, Funding Portals, NSF, overdraft fee, penalty, SEC, Small Business, technology, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Regulators/Portals Investigating More Crowdfunding Campaigns

The Louisiana Attorney General is working with the trust and security team at GoFundMe to be on the lookout for fraudulent crowdfunding campaigns in the wake of the recent flooding there. The Hill reports:”GoFundMe has a team in place to … Continue reading

Posted in accredited investor, Broker dealers, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, fraud, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, unfair and deceptive practice | Tagged , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

No Startup Above The Law

The Los Angeles District Attorney slapped unicorn Uber with a $10 million fine for its misleading advertising and failure to pay airport fees. In its press release the DA’s office warns businesses and “… startups in particular, that in the … Continue reading

Posted in accredited investor, CFPB, Consumer Financial Protection Bureau, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fine, fraud, Funding Portals, Investments, Jobs, Legislative Intent, SEC, technology, unfair and deceptive practice, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment