The biggest U.S. banks are favorably situated to manage a major recession and keep above minimum capital requirements, according to the results of the Federal Reserve Board’s annual bank stress test...
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On Wednesday, 25 state financial regulators ensured that $82 million in cryptocurrency assets would be returned to consumers after taking action against Abra Trading and others for operating a cryptoc...
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A group of U.S. Senate Banking Committee Republicans, led by U.S. Sen. Mike Rounds (R-SD), has urged the Securities and Exchange Commission (SEC) to withdraw its proposed rulemaking on volume-based tr...
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On Tuesday, the Consumer Financial Protection Bureau (CFPB) issued a ruling that would extend the compliance deadlines for the small business lending rule. In March 2023, the CFPB issued the small ...
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A coalition of business groups, including the U.S. Chamber of Commerce, released a whitepaper this week detailing its concerns with the agenda of the Securities and Exchange Commission (SEC) and offer...
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The average 401(k) plan participant deferred 7.4 percent in 2023, according to Vanguard's annual report on Americans’ retirement savings behavior. When combined with employer contributions, the a...
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U.S. Treasury Secretary Janet Yellen announced Monday new department efforts to use its existing authorities to increase the supply of housing as part of the Biden administration’s push to lower hou...
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Intercontinental Exchange Inc. said Monday it will launch a clearing service for all U.S. Treasury securities and repurchasing agreements. The clearing service will leverage ICE’s global clearin...
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U.S. Sen. James Lankford (R-OK) led several Republican senators last week in urging the U.S. Department of Labor (DOL) to support state unemployment insurance agencies and their efforts to prevent fra...
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The Federal Housing Finance Agency (FHFA) on June 21 issued a conditional approval for Freddie Mac to engage in a pilot program to purchase single-family closed-end second mortgages. That condition...
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U.S. Sens. Todd Young (R-IN) and Jeanne Shaheen (D-NH) introduced legislation to address the mounting student debt crisis in America. The Student Protection and Success Act seeks to increase higher...
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The U.S. Department of the Treasury issued a report last week that reviewed and assessed the policies of major U.S. trading partners. The Treasury’s semiannual Report to Congress on Macroeconomic...
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The U.S. Department of the Treasury and the Internal Revenue Service (IRS) came out with final rules on prevailing wage and registered apprenticeship (PWA) requirements in the Inflation Reduction Act....
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U.S. Reps. Young Kim (R-CA) and David Scott (D-GA) introduced legislation that seeks to provide greater access to financial services for the underbanked and in underserved communities. The Financi...
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U.S. Sen. Sherrod Brown (D-OH) is urging the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) to keep a close eye on bank mergers. Specifically, ...
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The U.S. Treasury Department and the Internal Revenue Service (IRS) are looking to close a major tax loophole exploited by large, complex partnerships. The Treasury estimates that this initiative...
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A group called Protecting Americans’ Coverage Together (PACT) is among a group of 70 organizations urging Congress to reject proposals to tax employer-provided coverage. PACT is a coalition that ...
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A report examining how hedge funds use artificial intelligence (AI) to inform trading decisions was released this week by U.S. Sen. Gary Peters (D-MI), chair of the Senate Homeland Security and Go...
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A group of financial industry associations are calling on Congress to pass a bill that seeks to protect vulnerable adults from financial exploitation. The bill in question is called the Financial E...
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Senate Republicans introduced legislation last week that seeks to require funding for the Consumer Financial Protection Bureau (CFPB) to be appropriated by Congress. Currently, the Federal Reserve...
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