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Home » Archives for February 2022

Credit unions warned to be on heightened alert for cyberattacks

By Dave Kovaleski  |   February 28, 2022   |   Federal

Credit unions and financial institutions should be on heightened alert for cyberattacks as a potential result of Russia’s invasion of Ukraine, federal officials said. The U.S. Department of Home...

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Leafly Jobs Report shows more than 428,000 full-time jobs supported by cannabis industry

By Douglas Clark  |   February 28, 2022   |   Cannabis Banking

As of January 2022, there are 428,059 full-time equivalent jobs supported by legal cannabis, according to a recently released report generated by cannabis information firm Leafly and Whitney Economics...

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Adult-use cannabis advocates confident Ohio is ready for recreational nod

By Hil Anderson  |   February 28, 2022   |   Cannabis Banking

Advocates of adult-use cannabis in Ohio say the medical marijuana industry in their state is already well established, and its success will lead to an expansion into the recreational market sooner rat...

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Analysis of Emergency Rental Assistance program shows funds reaching those in need

By Dave Kovaleski  |   February 28, 2022   |   Federal

Funds delivered to households through the U.S Treasury’s Emergency Rental Assistance (ERA) program are reaching the people it should -- underserved and vulnerable communities, according to an analys...

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Valkyrie initiates protocol treasury management service

By Douglas Clark  |   February 28, 2022   |   Digital Currency

Digital assets-focused investment management firm Valkyrie Investments has initiated a protocol treasury management service to aid blockchain project balance sheet management. "Treasury management ...

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Digital asset firm Teller details latest strategic funding initiative

By Douglas Clark  |   February 25, 2022   |   Digital Currency

The unsecured digital asset lending and borrowing firm Teller is detailing a $6.85 million strategic funding initiative spearheaded by Blockchain Capital and a series of other partners. The effort ...

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GOP leaders in Congress seek halt on plan to forgo recovery of unemployment overpayments

By Dave Kovaleski  |   February 25, 2022   |   Featured

Leading Republicans in the House and Senate are urging U.S. Department of Labor Secretary Martin Walsh to avoid allowing states to forgo recovery of overpayments in pandemic unemployment programs. ...

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CFPB to review home valuation models to eliminate any biases

By Dave Kovaleski  |   February 25, 2022   |   Federal

The Consumer Financial Protection Bureau (CFPB) has initiated a process of reviewing computer models used to help determine home valuations to make sure they are accurate, fair, and unbiased. Whi...

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ASA examines medical cannabis law efficacy

By Douglas Clark  |   February 25, 2022   |   Cannabis Banking

Americans for Safe Access (ASA) has released a report examining the efficacy of state medical cannabis laws. The organization evaluated patient access, affordability, equity, and product safety. ...

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Intercontinental Exchange initiates tZERO strategic investment

By Douglas Clark  |   February 24, 2022   |   Digital Currency

Global exchanges and clearing houses operator Intercontinental Exchange (ICE) is initiating a strategic investment in blockchain innovation and liquidity firm for digital assets tZERO. tZERO operat...

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Visa launches new program to invest in minority depository institutions

By Dave Kovaleski  |   February 24, 2022   |   Industry

Visa launched a new program to invest in minority depository institutions (MDIs) with the goal of reducing economic disparities and expanding access in communities of color across the United States. ...

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New York Gov. Hochul signs conditional cannabis cultivation measure

By Douglas Clark  |   February 24, 2022   |   Cannabis Banking

New York Gov. Kathy Hochul said signing a measure creating a new Conditional Adult-use Cannabis Cultivator license positions farmers to be the first to grow cannabis and jumpstart the industry. The...

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Sen. Whitehouse calls for stronger disclosure requirements for real estate bought by shell companies

By Dave Kovaleski  |   February 24, 2022   |   Featured

U.S. Sen. Sheldon Whitehouse (D-RI) is calling on the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to codify and strengthen the disclosure requirements for all-cash real estat...

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CFTC charges hedge fund manager with fraud for scheme to overvalue assets

By Dave Kovaleski  |   February 23, 2022   |   Federal

The Commodity Futures Trading Commission (CFTC) levied fraud charges against a hedge fund manager this week. The CFTC filed a civil enforcement action in the U.S. District Court for the Southern D...

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CFPB issues Public Service Loan Forgiveness bulletin

By Douglas Clark  |   February 23, 2022   |   Federal

The Consumer Financial Protection Bureau (CFPB) has released a bulletin detailing student loan servicers must refrain from unlawful conduct regarding borrowers’ eligibility via the Public Service Lo...

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Bill would prohibit IRS from hiring enforcement personnel until backlogged returns are processed

By Dave Kovaleski  |   February 23, 2022   |   Featured

U.S. Rep. Bruce Westerman (R-AR) introduced a bill that would prohibit the Internal Revenue Service (IRS) from hiring additional tax enforcement personnel until all tax returns from the past two years...

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Securitize details acquisition of Pacific Stock Transfer

By Douglas Clark  |   February 23, 2022   |   Digital Currency

Digital asset securities firm Securitize has detailed its acquisition of Pacific Stock Transfer (PST). The action is significant to bridging the process of issuing shares and tracking ownership fro...

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Senators introduce bill to strengthen money laundering laws

By Dave Kovaleski  |   February 22, 2022   |   Featured

A group of U.S. senators recently introduced legislation that seeks to strengthen criminal money laundering statutes. The Combatting Money Laundering, Terrorist Finance and Counterfeiting Act of 20...

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Eun Young Choi

DOJ appoints Eun Young Choi as first Director of National Cryptocurrency Enforcement Team

By Liz Carey  |   February 22, 2022   |   Digital Currency

The U.S. Department of Justice (DOJ) Thursday announced the appointment of Eun Young Choi as the first Director of the National Cryptocurrency Enforcement Team (NCET). The DOJ said Choi, who most ...

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Democratic legislators encourage IRS backlog reduction, bolstered customer service

By Douglas Clark  |   February 22, 2022   |   Federal

A group of lawmakers recently forwarded correspondence to IRS Commissioner Charles Rettig, encouraging the agency to address backlogs while enhancing customer service. U.S. Sens. Dianne Feinstein ...

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Cannabis Banking

  • Pennsylvania AG among coalition urging Congress to pass cannabis banking bill
  • New York State hits $1B in cannabis retail sales
  • AICPA makes recommendations to IRS on cannabis businesses in advance of marijuana reclassification
  • CTrust launches credit scoring platform for cannabis businesses
  • Senators push for legal cannabis businesses to have SBA access

Digital Currency

  • CFTC launches new stablecoin initiative
  • Bank Policy Institute urges SEC to strengthen crypto custody requirements
  • Treasury seeking public comment on implementation of GENIUS Act
  • SEC, CFTC issue statement on trading of spot crypto assets
  • Global financial associations urge Basel committee to revisit crypto asset standards

Most Read Last 7 Days

  • 19 state AGs voice opposition to four recent CFPB proposals
  • CFTC launches new stablecoin initiative
  • Treasury, IRS clarify who is eligible for tips tax deduction
  • Big Lots changes tune about what drove its bankruptcy
  • Puerto Rican bank board chair pleads guilty to wire fraud conspiracy
  • U.S. Senate bill proposes higher IRA withdrawals for homebuyers
  • SEC announces retirement of Chief Operating Officer Ken Johnson
  • Sen. Blumenthal issues report on probe into KPMG’s audits of collapsed banks
  • Rep. Hill urges SEC to support executive order to allow alternative assets in 401(k)s
  • SEC to hold events on Regulation S-P amendments

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