The Securities and Exchange Commission (SEC) recently adopted rules addressing cybersecurity risk management, strategy and governance. “Whether a company loses a factory in a fire — or millions...
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The House Financial Services Committee is espousing the benefits of advancing seven pieces of legislation addressing a myriad of issues. The Clarity for Payment Stablecoins Act of 2023 (H.R. 4766) ...
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The Federal Deposit Insurance Corporation (FDIC) has indicated bank regulatory agencies are requesting comment on a proposal increasing banking system strength and resilience. According to the FDIC...
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The Securities and Exchange Commission (SEC) is proposing new rules requiring broker-dealers and investment advisers to address potential conflicts of interest associated with predictive data analyti...
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The House Financial Services Committee passed six bills this week, several of which focus on digital assets. Among them is the Financial Innovation and Technology for the 21st Century Act (H.R. 47...
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U.S. Sen. JD Vance (R-OH) is espousing the benefits of legislation he has introduced to improve bank supervision and regulation for insured state banks with assets of $100 billion or more. Vance re...
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U.S. Sens. Ben Cardin (D-MD) and Steve Daines (R-MT) introduced a bill this week in the Senate that would foster the growth of S corporations that are owned by Employee Stock Ownership Plans (S-ESOP)....
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A Public Company Accounting Oversight Board (PCAOB) report maintains there has been a year-over-year rise in the number of deficient audits at audit firms the PCAOB inspected last year. “These fi...
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The Office of the Comptroller of the Currency (OCC) has detailed a $15 million civil money penalty against American Express National Bank (American Express). The OCC alleged the financial instituti...
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U.S. Reps. Vicente Gonzalez (D-TX) and Brian Fitzpatrick (R-PA) introduced legislation recently that would expand credit union business lending ability to $100,000 -- up from the current $50,000. ...
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U.S. Rep. Lloyd Smucker (R-PA) is sponsoring a bill in the House that would make permanent a tax provision within the 2017 Tax Cuts and Jobs Act. His bill, the Main Street Tax Certainty Act (H.R. 4...
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The Managed Funds Association (MFA) is urging Securities and Exchange Commission (SEC) to consider the aggregate cost of its rulemaking on investment advisers, investors, and the markets. Instead,...
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The U.S. Federal Reserve Board issued a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, this week. The fine and consent order are for misconduct by Credit Suisse,...
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The Consumer Financial Protection Bureau (CFPB) has filed suit against lease-to-own finance company Snap Finance, alleging the business deceived consumers, obscured financing agreement terms and made ...
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U.S. Sens. Sherrod Brown (D-OH) and J.D. Vance (R-OH) are advocating on behalf of the state's regional banks in the wake of the Silicon Valley Bank and Signature Bank failures. Brown, chairman of t...
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U.S. Sens. John Thune (R-SD) and Mike Rounds (R-SD) are commending Senate colleagues for action advancing their Tribal Trust Land Homeownership Act. The measure would create statutory timelines in ...
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The Independent Community Bankers of America (ICBA) released the results of a new poll on proposed credit card routing restrictions. The proposed restrictions stem from the Credit Card Competition ...
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U.S. Sens. Kirsten Gillibrand (D-NY) and Josh Hawley (R-MO) are espousing newly introduced legislation they said represents the most substantive effort to ban stock trading by members of Congress. ...
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The U.S. House of Representatives House Small Business Committee passed a bill that would reclaim fraudulent and unused Paycheck Protection Program (PPP) loans distributed during the COVID-19 pandemic...
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A Consumer Financial Protection Bureau (CFPB) report highlighting worker employer-driven debt risks maintains there is a prevalence of challenges workers face when becoming indebted as a condition of...
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