After an investigation by an independent third party, the chairman of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, announced that he has stepped down. The investigation was b...
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On Friday, more than 130 members of Congress lauded the new Internal Revenue Service’s (IRS) Free Direct File Program and pushed for the Biden administration to make the program permanent. In a ...
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U.S. Reps. Brian Fitzpatrick (R-PA) and Matt Cartwright (D-PA) introduced legislation that seeks to protect the right of public employees to join unions and engage in collective bargaining on behalf o...
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The U.S. Senate passed a resolution overturning the U.S. Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin (SAB) 121. SAB 121 provides guidance for entities related to the ac...
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A bipartisan group of Congress members are urging federal financial regulators to implement their respective obligations under the Financial Data Transparency Act (FDTA). The Financial Data Transpa...
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On Thursday, the U.S. Department of the Treasury revealed its latest strategy for combating illicit financial activities. The 2024 National Strategy for Combatting Terrorist and Other Illicit Fina...
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The House Financial Services Committee passed a bill that would exempt small banks and lenders from reporting requirements under the Small LENDER Act. The Small LENDER Act (H.R. 1806) would codify...
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The Securities and Exchange Commission (SEC) published a new report on the investment advisory industry. The SEC’s Investment Adviser Statistics report is designed to give the public insights and...
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On Wednesday, U.S. Rep. August Pfluger (R-TX) introduced legislation to protect American companies operating abroad. The legislation, Defending American Property Abroad Act, would be aimed at coun...
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A group of U.S. senators are urging the Senate Appropriations Subcommittee on Labor, HHS, Education, and Related Agencies to fully fund the Unemployment Insurance (UI) administration. The senators ...
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On Tuesday, U.S. Sen. Bill Cassidy, M.D. (R-LA) introduced legislation to improve transparency in union elections. Cassidy, the ranking member of the Senate Health, Education, Labor and Pensions C...
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The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) will hold a joint public meeting on the proposal by Capital One to acquire Discover Financial Services. Back in Fe...
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The Commodity Futures Trading Commission (CFRC) filed a civil enforcement action against a Texas company and its founders for allegedly defrauding customers through a scheme involving cattle. The a...
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The Securities and Exchange Commission (SEC), along with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a new rule designed to prevent illicit finance a...
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Applications for the federal Low-Income Communities Bonus Credit Program will soon be accepting applications for the 2024 program year, the U.S. Department of the Treasury and the Internal Revenue Ser...
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On Monday, the Commodity Futures Trading Commission (CFTC) announced it had simultaneously filed and settled charges against Falcon Labs, Ltd., for failing to register with the CFTC as a futures commi...
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The House Committee on Rules will consider a bill that seeks to provide regulatory clarity for digital assets. Specifically, the rules committee will consider the Financial Innovation and Technolog...
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U.S. Rep. Young Kim (R-CA) introduced legislation this week that seeks to codify policies related to small-dollar loans. Federal agencies, in May of 2020, issued guidance for responsible small-dol...
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On Thursday, Cloudflare announced it would be partnering with the U.S. Department of Treasury and Pacific Northwest National Laboratory to improve cyber resilience for the financial services industry....
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The Federal Reserve Board issued a report last week that details the Climate Scenario Analysis (CSA) exercise that it conducted with six of the nation's largest banks. The report describes how thes...
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