U.S. banks posted aggregate net income of $70.8 billion in second quarter of 2023, down about $9 billion, or 11.3 percent, from first quarter 2023, according to the Federal Deposit Insurance Corporati...
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U.S. Reps. Dan Meuser (R-PA) and Hillary Scholten (D-MI) introduced legislation recently that would increase capital available to small businesses, particularly those in rural or low-income areas. ...
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The Bank Policy Institute (BPI) launched an ad campaign this week on what it contends are the consequences of a proposal to increase capital requirements for banks. The ad campaign, called “Stop ...
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U.S. Sen. Thom Tillis (R-NC) is leading a coalition of Republicans on the Senate Banking Committee in urging the Consumer Financial Protection Bureau (CFPB) to halt the effective date of the small bus...
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U.S. Reps. Mike Carey (R-OH) and Earl Blumenauer (D-OR) are calling on the Internal Revenue Service (IRS) to provide additional guidance on historic preservation easements so they can be more accessib...
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A bipartisan group in the U.S. House of Representatives voiced their opposition to a proposal by the Securities and Exchange Commission (SEC) that would impact mutual fund investors. Currently, mu...
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On Tuesday, the Federal Deposit Insurance Corporation (FDIC) announced it would start marketing the approximately $33 billion Commercial Real Estate (CRE) loan portfolio for the former Signature Bank,...
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U.S. Reps. Mark Green (R-TN), Andrew Garbarino (R-NY), and Zach Nunn (R-IA) are urging the Securities and Exchange Commission (SEC) to rethink a new rule on cybersecurity for public companies. The...
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The Securities and Exchange Commission (SEC) is directing the equity exchanges and the Financial Industry Regulatory Authority (FINRA) to file a new national market system (NMS) plan. This new plan...
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Visa is expanding its stablecoin settlement capabilities to the Solana blockchain and is working with merchant acquirers Worldpay and Nuvei. The payment processing company has already moved million...
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On Sept. 1, the Commodity Futures Trading Commission announced it had filed a complaint against “My Forex Funds” for fraudulently soliciting customers more than $300 million to become “professio...
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U.S. Sen. Bill Cassidy, M.D. (R-LA) and U.S. Rep. Virginia Foxx (R-NC) are urging the Department of Labor (DOL) to cease any further action to amend the definition of an investment advice fiduciary. ...
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U.S. Sens. Marsha Blackburn (R-TN) and Tom Cotton (R-AR) introduced legislation that would require investment advisors and retirement plan sponsors to focus primarily on financial factors, such as max...
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The U.S. Department of Health and Human Services is recommending that the U.S. Drug Enforcement Agency (DEA) move marijuana from Schedule I to Schedule III under the Controlled Substances Act. Sche...
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The Securities and Exchange Commission (SEC) today settled cease-and-desist proceedings against Citigroup Global Markets for violating recordkeeping requirements. Recordkeeping requirements of the ...
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