FEMA Employee Indicted for Medical Center Hacking
A Michigan man has been charged with hacking into the database of a medical center and swiping over 65,000 employee information. Justin Sean Johnson, an IT Specialist at the Federal Emergency Management Agency (FEMA) was…
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Bank of America Discovers Data Breach in PPP Application Process
Bank of America Corporation has informed its customers of a serious data breach affecting those who have applied for the Paycheck Protection Program (PPP). On April 22, client information was left vulnerable when the bank…
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Amazon Fights off Largest Ever DDoS Attack
Amazon announced its cloud-services provider, Amazon Web Services, recently fended off the greatest DDoS cyber-attack in history. Amazon web services, which offers the very infrastructure hundreds of companies rely on, defended itself against a Distributed…
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DOL Releases RFI on PTEs Involving Pooled Employer Plans
The Department of Labor just published its Request for Information (RFI) on PEPs, or Prohibited Transactions involving Pooled Employer Plans (PEPs) under the SECURE Act as well as other multiple employer plans. Per a press…
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Update on EBSA Probing ESG Holdings
The New York Regional Office of the Employee Benefit Security Administration is requesting a laundry list of information from plans with ESG funds regarding the review and selection process for said options. The office is…
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Excessive Fee Lawsuit Targets RK Fees
In the U.S. District Court for the Southern District of Ohio, a lawsuit was filed by plaintiff-participants Gregory Stark, William Gaff and Michael Lewin as representatives on behalf of participants in the $2.9 billion Keycorp…
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Novel SBA Guidance Simplifies Key PPP Provision
Partnering with the Treasury Department, The U.S. Small Business Administration launched novel guidance offering vital clarifications for individuals taking advantage of the Paycheck Protection Program. Published on June 12, the Interim Final Rule edits the…
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Asset-Weighted Expense Ratio Drops Again
Released on June 8th, an annual study examining trends in open-end mutual funds and exchange-trade funds found that the asset-weighted average expense ratio plummeted to 0.45% in 2019, slicing funds and ETFs nearly in half…
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ARA Provides Guidance on PEP & PPP Issues
The American Retirement Association, or ARA, offered the Department of Labor a series of recommendations involving potential service arrangements and proposed fee arrangements, as well as what the covered transactions may be under the possible…
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