- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-03-10T19:32:00
A South Carolina-based software company agreed to pay $3 million to the Securities and Exchange Commission (SEC) to settle claims it violated securities law by failing to disclose the true scope of a ransomware attack that affected 13,000 users.
Blackbaud disclosed details about a breach of customer personal information in July 2020 on its website and through direct contact with customers but claimed no bank account information or Social Security numbers had been exposed.
In August, the company made a similar disclosure to the SEC in a quarterly report. The company omitted material information about the attack, the SEC said in its order, namely that the hacker did in fact obtain the bank account information and Social Security numbers of some Blackbaud customers.
2024-02-02T19:01:00Z By Jeff Dale
Software company Blackbaud will be required to delete unnecessary data and boost cybersecurity as part of a proposed settlement with the Federal Trade Commission stemming from a 2020 data breach.
2023-10-24T22:21:00Z By Kyle Brasseur
BlackRock Advisors agreed to pay $2.5 million as part of a settlement with the Securities and Exchange Commission addressing allegations the firm inaccurately described investments a fund it advised made in a now-defunct film production company.
2023-10-16T21:16:00Z By Jeff Dale
Software company Blackbaud agreed to pay $49.5 million in a multistate settlement addressing charges related to a 2020 cyberattack that exposed the personal data of approximately 13,000 consumers.
2025-07-08T19:50:00Z By Aaron Nicodemus
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
2025-07-07T19:02:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
2025-07-07T17:45:00Z By Neil Hodge
The UK’s financial regulator has had a rough ride over the past couple of years as its strategy to “name and shame” firms it opened investigations into was widely slammed by the industry and lawmakers over concerns that companies could be unfairly maligned.
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