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Tuesday, May 13th, 2025

Home » Archives for October 2022

Reps. Panetta, LaHood introduce bill to help service workers in travel industries

By Dave Kovaleski  |   October 31, 2022   |   Featured

U.S. Reps. Jimmy Panetta (D-CA) and Darin LaHood (R-IL) introduced legislation last week that seeks to support workers in the tourism and hospitality industries, which lost more jobs in the pandemic t...

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CFPB initiates consumer financial data rights guidance considerations

By Douglas Clark  |   October 31, 2022   |   Federal

The Consumer Financial Protection Bureau (CFPB) has begun the initial process of outlining options for consumers to bolster access to and control financial data before issuing proposed data rights gui...

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New Jersey panel advocates funding of Cannabis Training Academy

By Douglas Clark  |   October 31, 2022   |   Cannabis Banking

The New Jersey Cannabis Regulatory Commission (NJ-CRC) has recommended the state's Department of the Treasury fund the Cannabis Training Academy. During its recent public session, the NJ-CRC approv...

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Republican senators request CBO to assess impact of Biden economic policies

By Dave Kovaleski  |   October 31, 2022   |   Federal

A group of Republican senators, led by U.S. Sens. Todd Young (R-IN) and Steve Daines (R-MT), are asking the nonpartisan Congressional Budget Office (CBO) to assess how policies passed during Biden Adm...

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CFPB issues guidance for financial institutions on potentially unlawful junk fees

By Dave Kovaleski  |   October 28, 2022   |   Featured

The Consumer Financial Protection Bureau (CFPB) issued guidance this week on what it calls two junk fee practices that it sees as unfair and unlawful. One of them refers to surprise overdraft fees...

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NAFCU advocating inclusion of SAFE Banking Act within National Defense Authorization Act

By Douglas Clark  |   October 28, 2022   |   Cannabis Banking

The National Association of Federally-Insured Credit Unions (NAFCU) is advocating the Secure and Fair Enforcement (SAFE) Banking Act be included in the fiscal year 2023 National Defense Authorization ...

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SEC proposes new rules for registered investment advisors

By Dave Kovaleski  |   October 28, 2022   |   Federal

The Securities and Exchange Commission (SEC) is proposing new rules that would prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence....

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State attorneys general urge SEC to allow full public input regarding environmental, social, and governance investing

By Douglas Clark  |   October 28, 2022   |   Federal

Montana Attorney General Austin Knudsen has joined 17 other state attorneys general in requesting the Security and Exchange Commission (SEC) allow public input regarding environmental, social, and gov...

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Sen. Brown reminds Fed chair of mandate to also maintain full employment

By Dave Kovaleski  |   October 27, 2022   |   Federal

U.S. Sen. Sherrod Brown (D-OH) is reminding the Federal Reserve not to hurt employment rates to reduce inflation. In a letter to Federal Reserve Board Chair Jerome Powell, Brown said it is the Fedâ...

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FDIC survey says number of Americans who are banked reaches all-time high

By Dave Kovaleski  |   October 27, 2022   |   Featured

A new Federal Deposit Insurance Corporation (FDIC) survey found that nearly 96 percent of U.S. households were banked in 2021. The FDIC’s biennial 2021 National Survey of Unbanked and Underbanked...

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Silvergate initiates enhanced customer support model

By Douglas Clark  |   October 27, 2022   |   Digital Currency

Digital asset industry infrastructure company Silvergate has noted it would provide comprehensive customer support to enable customers to conduct certain activities outside traditional banking hours. ...

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Report examines global credit union digitization focus

By Douglas Clark  |   October 27, 2022   |   Industry

World Council of Credit Unions’ (WOCCU) 2021 Statistical Report findings maintain the global credit union movement's chief priority is digitization. “Despite the COVID-19 pandemic continuing to...

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SEC details Toronto-based cannabis company charges

By Douglas Clark  |   October 26, 2022   |   Cannabis Banking

Securities and Exchange Commission (SEC) officials have outlined charges against a Toronto-based cannabis company and its former Chief Commercial Officer, alleging improper revenue accounting and othe...

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New study examines impact of inflation on auto insurance

By Dave Kovaleski  |   October 26, 2022   |   Featured

The American Property Casualty Insurance Association (APCIA) released a white paper this week examining how auto insurance is impacted by inflation. The paper, entitled "The New Normal? Auto Insure...

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ASA issues medical marijuana voter guide

By Douglas Clark  |   October 26, 2022   |   Cannabis Banking

The Americans for Safe Access (ASA) has issued its 2022 Vote Medical Marijuana voter guide to educate supporters and the public regarding legislator medical cannabis advocacy. "It is critical for m...

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FHFA to eliminate upfront fees for upfront fees for certain Fannie, Freddie loans

By Dave Kovaleski  |   October 26, 2022   |   Federal

The Federal Housing Finance Agency (FHFA) is making changes to Fannie Mae and Freddie Mac's guarantee fee pricing by eliminating upfront fees for certain borrowers and loan products. Specifically,...

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Survey examines consumer payment experience preferences

By Douglas Clark  |   October 25, 2022   |   Industry

Findings from a survey conducted by the software company Entrust maintain domestic consumers expect payment experiences that include seamless self-service capabilities, flexible payment options, and a...

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FINRA introduces new machine-readable rulebook tool

By Dave Kovaleski  |   October 25, 2022   |   Featured

The Financial Industry Regulatory Authority (FINRA) launched a machine-readable rulebook initiative designed to help member firms better search for data while enhancing compliance, reducing costs, and...

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SEC fines Mattel $3.5M for misstatements on financial reports

By Dave Kovaleski  |   October 25, 2022   |   Federal

The Securities and Exchange Commission (SEC) settled charges with Mattel Inc. related to misstatements by the company in its third- and fourth-quarter 2017 financial statements. The company has ag...

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U.S. Bank, Adobe detail customer experience collaboration

By Douglas Clark  |   October 25, 2022   |   Industry

U.S. Bank and Adobe officials are touting a collaboration the entities maintain provides enhanced online and in-branch customer experiences personalized to individuals’ needs and interests. The A...

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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
  • CFPB says it will not prioritize buy now, pay later enforcement
  • House Republican leaders draft of bill to establish U.S. digital asset framework
  • Credit Suisse hit with $510M fine for IRS violations
  • Reps. Smucker, Davids introduce bill to reduce student loan burden
  • Forward Air board under fire from activist investor Ancora
  • OCC adopts new rules for bank mergers
  • Tariffs have begun harming small businesses, according to Senate committee report
  • Legislation would promote competition in mobile app marketplace
  • Legislation would help small businesses bring new technologies to market

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