On Tuesday, the Consumer Financial Protection Bureau (CFPB) said it had ordered Bank of America to pay a $12 million penalty for falsifying mortgage lending information. According to the bureau fo...
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The Public Company Accounting Oversight Board (PCAOB) sanctioned three audit firms for failing to file required forms. The documents in question are Form APs. Registered audit firms are required to...
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U.S. Sens. Sherrod Brown (D-OH) and John Fetterman (D-PA) are urging the selection committee for the next president of the Cleveland Federal Reserve to make sure the process is transparent and include...
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U.S. Rep. Beth Van Duyne (R-TX) introduced legislation to repeal the Superfund tax imposed through the Infrastructure Investment and Jobs Act. The Superfund chemical excise tax impose a tax on the...
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On Monday, U.S. Sens. Mark Warner (D-VA) and Tim Kaine (D-VA) announced they had secured more than $4 million in federal funding for the Virginia Small Business Financing Authority (VSBFA). The fu...
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The Securities and Exchange Commission (SEC) adopted a rule that is intended to prevent the sale of asset-backed securities (ABS) that are tainted by conflicts of interest. More specifically, it p...
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The SEC’s Small Business Capital Formation Advisory Committee will discuss the definition of accredited investor and diversity in the investment process when it meets Wednesday. The committee, w...
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A group of financial services organizations are asking the Federal Reserve to extend the comment period for its interchange proposal by at least 90 days. The Fed, which proposed the changes at its...
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Economists at Bank of America (BofA) Global Research released their 2024 outlook, calling for a soft “landing” for the economy. "2023 defied almost everyone's expectations: recessions that neve...
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U.S. Sen. Rick Scott (R-FL) introduced a bill in the U.S. Senate last week that would prohibit money services businesses from engaging in any transaction that involves a central bank digital currency ...
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The U.S. Federal Housing Finance Agency (FHFA) published a final rule last week that modifies some provisions of the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac. ...
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On Tuesday, the U.S. Department of the Treasury announced it had approved awarded more than $50 million in technical assistance grants to 20 states under the State Small Business Credit Initiative (SS...
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U.S. Rep. French Hill (R-AR) reintroduced a bill that seeks to amend the Social Security Disability Insurance (SSDI) program. The Social Security Disability Insurance Return to Work Act (H.R. 6428...
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The Securities and Exchange Commission (SEC) levied charges against an unregistered cryptocurrency trading platform. The charges were filed against Payward Inc. and Payward Ventures Inc., together...
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U.S. Rep. Andy Barr (R-KY) announced last week that he had introduced legislation to increase tailoring for mid-sized banks. His legislation, the Financial Institution Regulatory Tailoring Enhance...
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On Thursday, in its annual report, the Consumer Financial Protection Bureau (CFPB) highlighted challenges American’s face when debt collector pursue allegedly unpaid medical bills. The report to...
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U.S. Reps. Mike Turner (R-OH) and Mikie Sherrill (D-NJ) introduced legislation in the House that seeks to restore the expired tax incentive that allows developers to fully deduct the costs of environm...
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The U.S. Treasury and the Internal Revenue Service (IRS) released guidance this week to provide additional clarity on the expanded investment tax credit (ITC). Specifically, the guidance seeks to p...
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The Securities and Exchange Commission (SEC) has adopted new rules that seek to improve the governance of clearing agencies. The new rules would, in effect, improve the governance of registered cle...
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U.S. Sens Ron Wyden (D-OR), Sheldon Whitehouse (D-RI), and Angus King (I-ME) introduced a bill last week that would close the carried interest loophole and ensure hedge fund managers and private equit...
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