The Digital Asset Advocacy Group (DAAG), which promotes safe and regulated crypto lending, is seeking to educate consumers on digital lending opportunities and risks. "Crypto lending creates tremen...
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Consumer Financial Protection Bureau (CFPB) officials said an agency report determined payday loan borrowers continue to pay significant rollover fees despite available protections and payment plans. ...
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The U.S. Securities and Exchange Commission (SEC) is considering a new Regulation SE under the Securities Exchange Act of 1934 regarding security-based swap execution facilities (SBSEFs). The rule ...
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U.S. Sen. Pat Toomey (R-PA) released a discussion draft of a bill that would establish a new regulatory framework for payment stablecoins. The draft legislation would establish a new federal licens...
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States where cannabis is legal generated more than $3.7 billion in cannabis tax revenue last year from adult-use sales -- a 34 percent increase compared to 2020, according to a new report from the Mar...
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Consumer Bankers Association (CBA) and Small Business Financial Exchange (SBFE) report findings maintain supply chain disruptions, labor shortages, and inflation continue to negatively impact the smal...
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the world’s largest darknet market, the Russia-based Hydra Market, along with virtual currency exchange Gar...
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A coalition of bank and credit union associations, among others, are urging Congress to pass a bill that would close the industrial loan company (ILC) loophole. The Close the ILC Loophole Act (H.R...
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A group of lawmakers recently forwarded correspondence to Securities and Exchange Commission (SEC) Chair Gary Gensler, urging the withdrawal of a proposed rule regarding greenhouse gas (GHG) emissions...
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Needham Bank has completed the transfer of its cannabis banking and money service businesses from Eastern Bank after receiving regulatory approvals. Needham has also hired the cannabis banking team...
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Independent Community Bankers of America (ICBA) officials said the organization is re-emphasizing consumers seize their financial future and embrace sound money management practices during April's Fin...
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U.S. Reps. Norma Torres (D-CA) and Rick Crawford (R-AR) introduced legislation designed to mitigate the risks to the United States of El Salvador’s adoption of Bitcoin as legal currency. Their ...
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Republicans on the Senate Banking Committee introduced a discussion draft of a plan to accelerate economic growth and spur new business formation. The draftʻs working title is the JOBS Act 4.0, wh...
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U.S. Sens. Cynthia Lummis (R-WY), Kyrsten Sinema (D-AZ), Mark Warner (D-VA), and Bill Hagerty (R-TN) recently introduced legislation that seeks to ease Main Street business initial public offering (IP...
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Washington State Treasurer Mike Pellicciotti is urging Congress to pass the SAFE Banking Act, legislation that would provide protections to financial institutions serving legal cannabis-based business...
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Republican members in the Senate Finance Committee are urging U.S. Treasury Secretary Janet Yellen to engage with Congress on an international tax agreement for G-20 nations. The Organization for E...
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U.S. Rep. Nydia M. Velázquez (D-NY) has introduced legislation to broaden non-bank lender reporting and examination requirements under the Consumer Financial Bureau (CFPB). The Promoting Fair Lend...
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U.S. Reps. Stephen Lynch (D-MA) and Carolyn Maloney (D-NY) are seeking information from Credit Suisse about its compliance with international economic sanctions on Russia for its invasion of Ukraine. ...
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U.S. Sens. Elizabeth Warren (D-MA) and Sheldon Whitehouse (D-RI) are calling on Biden administration officials to close the loophole that exempts the private investment industry from anti-money launde...
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U.S. Sen. Bill Hagerty (R-TN) and U.S. Rep. Trey Hollingsworth (R-IN) have introduced a measure to provide stablecoin cryptocurrency industry clarity and support methods. The Stablecoin Transparenc...
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