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Friday, May 9th, 2025

Home » Archives for May 2022 » Page 3

California seeks to simplify cannabis taxing structure

By Douglas Clark  |   May 17, 2022   |   Cannabis Banking

California Department of Cannabis Control officials recently detailed Gov. Gavin Newsom's revised 2022-23 budget proposal that included efforts to simplify the state's cannabis taxing structure while ...

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Joint Economic Committee releases report on economic barriers facing Native Americans

By Dave Kovaleski  |   May 17, 2022   |   Federal

Leaders of the U.S. Congress Joint Economic Committee (JEC) released an analysis of the barriers facing Native American communities and how they hinder economic opportunity. The report -- released ...

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CUNA urges Congress to set aside $50M for USAID Cooperative Development Program

By Dave Kovaleski  |   May 17, 2022   |   Featured

The Credit Union National Association (CUNA) is urging Congress to allocate $50 million in funding for the U.S. Agency for International Development’s (USAID) Cooperative Development Program (CDP) f...

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Senators introduce bill to deny tax credits to companies paying Russian taxes

By Dave Kovaleski  |   May 16, 2022   |   Featured

U.S. Sens. Ron Wyden (D-OR) and Rob Portman (R-OH) introduced legislation that would disallow Foreign Tax Credits for companies that pay taxes to the Russian government. The Support Ukraine Throug...

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Measure address federal government’s prioritization of inflation

By Douglas Clark  |   May 16, 2022   |   Federal

U.S. Reps. Young Kim (R-CA) and Michael Waltz (R-FL) recently introduced the Combatting Painful Inflation (CPI) Act, which seeks to ensure the federal government is prioritizing addressing inflation. ...

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House committee advances legislation seeking to strengthen small business contracting advances

By Douglas Clark  |   May 16, 2022   |   Federal

U.S. Reps. Pete Stauber (R-MN) and Kweisi Mfume (D-MD) extended gratitude to the House of Representatives Small Business Committee for recently advancing their legislation, the Strengthening Subcontra...

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Senators urge Congressional leaders to pass SAFE Banking Act for legal cannabis businesses

By Dave Kovaleski  |   May 13, 2022   |   Cannabis Banking

A bipartisan group of U.S. Senators is urging their Congressional leaders to include the Secure and Fair Enforcement (SAFE) Banking Act in the final version of legislation currently being negotiated b...

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Bipartisan senators advocating expedited CTA implementation

By Douglas Clark  |   May 13, 2022   |   Federal

A bipartisan group of lawmakers recently forwarded correspondence encouraging the Treasury Department to implement the Corporate Transparency Act (CTA) to aid the federal government in imposing Russia...

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Michigan launches program to promote social equity in cannabis industry

By Dave Kovaleski  |   May 13, 2022   |   Cannabis Banking

The Michigan Cannabis Regulatory Agency (CRA) launched a new initiative this week to encourage cannabis industry licensees to be proactive in their diversity, equity, and inclusion campaigns. The i...

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Senate Republicans seeking more clarity on IRS proposal to expand ACA tax credit

By Dave Kovaleski  |   May 13, 2022   |   Featured

A group of Senate Republicans is seeking greater clarity on a proposal by the Internal Revenue Service (IRS) to expand the Affordable Care Act’s premium tax credit (PTC). In the Affordable Care A...

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House Financial Services Committee touts advancement of nine bipartisan bills

By Douglas Clark  |   May 13, 2022   |   Federal

House Financial Service Committee Chair Maxine Waters recently announced the House of Representatives' advancement of nine bipartisan measures. The Fair Hiring in Banking Act (H.R. 5911) bill would...

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Senators urge Treasury to implement Corporate Transparency Act

By Dave Kovaleski  |   May 12, 2022   |   Federal

A bipartisan group of senators is calling on the U.S. Treasury Department to swiftly implement the Corporate Transparency Act (CTA), which upgrades the country’s anti-money laundering laws and impos...

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Pennsylvania state senate launches task force to study digital currency

By Dave Kovaleski  |   May 12, 2022   |   Digital Currency

The leader of the Pennsylvania State Senate is launching a task force to examine how federal policy changes relating to digital currency could benefit Pennsylvania. The task force would include the...

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Associations support SEC cyber incident disclosure plan

By Douglas Clark  |   May 12, 2022   |   Federal

A group of financial services industry associations expressed their support of a Securities and Exchange Commission (SEC) proposal implementing requirements for financial institutions to disclose mate...

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NFIB survey assesses April small business trends

By Douglas Clark  |   May 12, 2022   |   Federal

The National Federation of Independent Business (NFIB) noted the organization's Small Business Optimism Index remained unchanged in April at 93.2. The figure represents the fourth consecutive month...

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ICE offering nature-based carbon credit futures

By Dave Kovaleski  |   May 11, 2022   |   Featured

Intercontinental Exchange has launched a Nature-Based Solutions (NBS) carbon credit futures contract. The NBS future, which trades under the contract code NBT, delivers Verified Carbon Unit (VCU) ...

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CFPB advisory opinion affirms loan borrower protections

By Douglas Clark  |   May 11, 2022   |   Federal

Consumer Financial Protection Bureau (CFPB) officials recently detailed the agency's issuance of an advisory opinion affirming the extent of loan borrower protections under the Equal Credit Opportunit...

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Beyond Bitcoin initiates crypto indices offering

By Douglas Clark  |   May 11, 2022   |   Digital Currency

Beyond Bitcoin, LLC officials said the investment firm has initiated equal-weighted crypto indices to offer a diversified alternative to market-capitalization weighted indices. “The majority of c...

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Opportunity highlighted in hearing on Pennsylvania hemp production

By Liz Carey  |   May 11, 2022   |   Cannabis Banking

Lawmakers heard about the economic benefits and opportunities hemp presents as an agricultural product during a hearing in Philadelphia Monday. Hosted by state Rep. Danilo Burgos (D-Philadelphia),...

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Intercontinental Exchange launches Nature-Based Solutions (NBS) carbon credit futures contract

By Dave Kovaleski  |   May 11, 2022   |   Federal

The Securities and Exchange Commission (SEC) has extended the public comment period on a proposed rule that seeks to standardize climate-related disclosures for investors. The public comment period...

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Cannabis Banking

  • 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
  • Delaware to consider bill protecting financial businesses serving legal marijuana industry

Digital Currency

  • House Republican leaders draft of bill to establish U.S. digital asset framework
  • Sen. Thune to expedite vote on GENIUS Act stablecoins bill
  • Federal Reserve Board withdraws crypto-asset bank guidance
  • PGI Global founder charged in crypto fraud scheme
  • SEC Crypto Task Force to hold crypto custody roundtable

Most Read Last 7 Days

  • Lawmakers urge reconsideration of Capital One-Discover merger
  • Reps. Smucker, Davids introduce bill to reduce student loan burden
  • CFPB says it will not prioritize buy now, pay later enforcement
  • House Republican leaders draft of bill to establish U.S. digital asset framework
  • Sens. Gallego, McCormick sponsor legislation to boost affordable housing supply
  • Credit Suisse hit with $510M fine for IRS violations
  • Huntington National Bank opens first branch in the Carolinas
  • Tariffs have begun harming small businesses, according to Senate committee report
  • Stephen Luparello named chairman of OCC
  • Legislation reintroduced to revert 1099-K threshold level to $20,000 for gig workers

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