U.S. Sen. Jeff Merkley (D-OR), co-author of the Volcker Rule, is urging federal financial regulators to reject a proposed rewrite of the rule. Merkley, who wrote the bill with former Sen. Carl Levi...
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North American Securities Administrators Association (NASAA) officials are expressing opposition to private securities markets expansion, advocating additional public markets impact and investor prote...
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The House Financial Services Committee advanced a series of bills this week, including one that is designed to enhance the coordination of state and federal banking agencies in regulating the activiti...
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Nitin Mhatre has been elected Consumer Bankers Association (CBA) chairman of the Board of Directors. Mhatre serves as executive vice president and head of Community Banking at Webster Bank. Terms f...
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The Consumer Financial Protection Bureau (CFPB) issued three new policies this week designed to promote innovation and facilitate compliance. The first policy is called the No-Action Letter (NAL) P...
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The North American Securities Administrators Association’s (NASAA) recently released annual enforcement report determined securities regulators were responsible for $1 billion in monetary relief as ...
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Rep. Josh Harder (D-CA) introduced a bill, the Financial Watchdog Support Act, which is designed to improve oversight of financial transactions between banks and other financial institutions. “T...
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The North American Securities Administrators Association (NASAA) maintains state securities regulators are concerned cybersecurity deficiencies are rising among investment advisers. “Cybersecuri...
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The Mortgage Bankers Association (MBA) commended the U.S. Department of the Treasury on its plan to reform the housing finance system. The Treasury Housing Reform Plan seeks to limit the role for ...
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Federal Reserve Board officials are seeking the public’s input regarding a proposal to establish capital requirements for certain insurance companies the Board supervises. The proposal, known a...
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Net income increased 4.1 percent for banks in second quarter, year over year, the Federal Deposit Insurance Corporation (FDIC) reported. Specifically, aggregate net income totaled $62.6 billion in ...
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Small Business Access to Capital Coalition members are encouraging lawmakers to avoid an Oct. 1 shutdown of the Small Business Administration's (SBA) flagship 7(a) business loan program. The coali...
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The Options Clearing Corp. (OCC) will pay a $20 million penalty for failing to implement policies to manage certain risks as required by the Securities and Exchange Commission (SEC) and the Commodity ...
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Independent Community Bankers of America (ICBA) officials said the organization’s Bancard division has launched an interactive tool to help community bank clients create a custom digital payments st...
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Tax preparation company H&R Block, in a study done with the Consumer Financial Protection Bureau (CFPB), found that emails notices and incentives were effective ways to encourage customers to use thei...
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Ryozo Himino was recently appointed to serve as the Financial Stability Board’s (FSB) Standing Committee on Supervisory and Regulatory Cooperation (SRC) chairman. The SRC addresses pivotal financ...
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The Federal Reserve’s Cash Product Office examines the impact of cashless businesses on retailers and consumers in a new white paper. The paper, “Cash Me If You Can: The Impacts of Cashless Bus...
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Rep. Paul Cook (R-CA) announced last week that he is co-sponsoring a bill designed to exclude grants supporting residential seismic retrofits from federal taxation. The Earthquake Mitigation Incent...
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Sen. Ted Cruz (R-TX) and Grover Norquist, president of Americans for Tax Reform are encouraging the Trump Administration to index capital gains to inflation. Cruz and Norquist outlined thoughts on ...
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