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Tuesday, May 20th, 2025

Home » Archives for October 2024

House Republicans seek briefing on recent FDIC changes

By Dave Kovaleski  |   October 31, 2024   |   Federal

A group of House Republicans are requesting that the Federal Deposit Insurance Corporation (FDIC) provide a briefing on recent changes impacting asset management firms. Specifically, they would lik...

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Civil investigative demands process at CFPB would be reformed under new bipartisan bill

By Kim Riley  |   October 31, 2024   |   Featured

Bipartisan legislation unveiled Oct. 25 in Congress would reform the process the Consumer Financial Protection Bureau (CFPB) uses when issuing civil investigative demands (CIDs) to financial services ...

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New York reduces workers’ compensation assessment rate

By Melina Druga  |   October 31, 2024   |   Industry

A reduction in the annual workers’ compensation assessment rate is expected to save New York State employers more than $191 million in 2025. Employers pay an annual assessment to operate the work...

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Sen. Tillis to introduce bill to replenish the SBA’s Disaster Loan Program

By Dave Kovaleski  |   October 31, 2024   |   Federal

U.S. Sen. Thom Tillis (R-NC) is among a group of Republican senators that are introducing legislation to replenish the Small Business Administration (SBA) Disaster Loan Program. In mid-October, t...

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Treasury issues final rule implementing Biden executive order on national security threats

By Dave Kovaleski  |   October 30, 2024   |   Featured

The U.S. Department of the Treasury issued a final rule on an executive order related to national security threats from countries of concern. The rule implements executive order 14105, which is cal...

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Report: Small-business growth increased in October

By Melina Druga  |   October 30, 2024   |   Industry

Small-business job growth in October was 100.06, according to the Paychex Small Business Employment Watch, a monthly report on businesses with fewer than 50 workers. The report analyses of national...

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New survey shows consumer views on major bank policy issues

By Liz Carey  |   October 30, 2024   |   Industry

Consumers say they are happy with their credit cards and do not want the government to interfere with their rewards programs, a new survey has found. The survey, conducted by Morning Consult on be...

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CFTC takes legal action against firm for commodity pool scheme

By Dave Kovaleski  |   October 30, 2024   |   Federal

The Commodity Futures Trading Commission (CFTC) took a civil enforcement action against a firm for allegedly operating a commodity pool scheme. The legal action was filed in the U.S. District Court...

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Senators probe $2.1B housing acquisitions by KKR, effect on renters

By Liz Carey  |   October 29, 2024   |   Federal

A group of Democratic senators are looking into the effect of a multi-billion dollar real estate purchase that puts more than 5,200 rental units under the control of private equity firm KKR. In a ...

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SEC adopts new rules to improve resilience of covered clearing agencies

By Dave Kovaleski  |   October 29, 2024   |   Federal

The Securities and Exchange Commission (SEC) adopted rules recently designed to improve the resilience of covered clearing agencies. The SEC’s actions include rule amendments that establish new ...

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ABA survey: Majority of U.S. consumers satisfied with their primary bank

By Melina Druga  |   October 29, 2024   |   Industry

Eight-five percent of Americans with a bank account say they are “very satisfied” or “satisfied” with their primary bank, according to a recent survey conducted by Morning Consult on behalf of...

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Bank Policy Institute, Kentucky Bankers file suit against CFPB data protection rule

By Dave Kovaleski  |   October 29, 2024   |   Featured

The Bank Policy Institute (BPI) and Kentucky Bankers Association filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) over a rule that governs financial data protection. The laws...

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FINRA paper examines the potential impact of the metaverse on financial institutions

By Dave Kovaleski  |   October 28, 2024   |   Federal

The Financial Industry Regulatory Authority (FINRA) published a new report on how the virtual metaverse could impact business models and processes. The report, titled "The Metaverse and the Implicati...

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New MBA white paper examines updates needed for Section 8 housing laws

By Dave Kovaleski  |   October 28, 2024   |   Featured

A new white paper issued by the Mortgage Bankers Association (MBA) finds that reforms are needed to modernize Section 8 housing laws. The paper, called “RESPA at 50: Key Reforms to RESPA Section 8 ...

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Hawaii awarded $525,000 for small-business program

By Melina Druga  |   October 28, 2024   |   Investment

The U.S. Small Business Administration (SBA) recently awarded the Hawaiʻi Department of Business, Economic Development and Tourism (DBEDT) a $525,000 grant supporting the Hawaiʻi State Trade Expansi...

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Treasury releases final manufacturing production credit rules

By Liz Carey  |   October 28, 2024   |   Federal

Final tax credit rules from the U.S. Treasury Department will expand the clean energy manufacturing base in America, officials said Oct. 24. U.S. Treasury Secretary Janet Yellen said the new final ru...

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USAID, Visa working to improve access to digital government systems

By Melina Druga  |   October 25, 2024   |   Federal

The U.S. Agency for International Development (USAID), an agency that leads international development and humanitarian assistance efforts, and Visa, a digital payments company, are working to improve ...

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ICE and Dun & Bradstreet to launch climate risk data service

By Dave Kovaleski  |   October 25, 2024   |   Featured

Intercontinental Exchange (ICE) and Dun & Bradstreet are launching a new climate risk data service for privately held companies. The service will provide transition risk data, including Greenhous...

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Treasury Department awards $246M to support affordable housing

By Liz Carey  |   October 25, 2024   |   Federal

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund on Wednesday awarded more than $246.4 million for affordable housing and community facilities for low-income c...

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NFIB joins lawsuit over Maryland county’s gas ban on new construction

By Dave Kovaleski  |   October 25, 2024   |   Industry

The National Federation of Independent Business (NFIB) is one of several organizations that filed a lawsuit in Montgomery County, Maryland, over the county’s gas ban on new construction. NFIB filed...

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Cannabis Banking

  • New York State hits $1B in cannabis retail sales
  • AICPA makes recommendations to IRS on cannabis businesses in advance of marijuana reclassification
  • CTrust launches credit scoring platform for cannabis businesses
  • Senators push for legal cannabis businesses to have SBA access
  • Delaware to consider bill protecting financial businesses serving legal marijuana industry

Digital Currency

  • Blockchain Association names next CEO
  • House Republican leaders draft of bill to establish U.S. digital asset framework
  • Sen. Thune to expedite vote on GENIUS Act stablecoins bill
  • Federal Reserve Board withdraws crypto-asset bank guidance
  • PGI Global founder charged in crypto fraud scheme

Most Read Last 7 Days

  • Texas signs into law corporate governance litigation bill
  • OCC adopts new rules for bank mergers
  • Bipartisan bill would help GSE’s develop low-income housing
  • House subcommittee holds hearing on reauthorizing CISA
  • Trump signs into law resolution overturning overdraft cap rule
  • Commercial mortgage delinquency rates increase in first quarter
  • Legislation reintroduced to revert 1099-K threshold level to $20,000 for gig workers
  • Sen. Ernst issues report on need to secure American intellectual property
  • ISDA extends digital regulatory reporting platform to cover new rules in Canada
  • Legislation would create private tax-advantaged accounts for newborns

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