FDIC makes leadership changes
The Federal Deposit Insurance Corporation (FDIC) recently made senior leadership changes. Ryan Billingsley was appointed Division of Risk Management Supervision director. He will oversee the agency...
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Bank Policy Institute commends FDIC proposal for regulatory thresholds
The Bank Policy Institute (BPI) commended the Federal Deposit Insurance Corporation (FDIC) for its recent proposal to adjust bank regulatory thresholds for inflation and automatically index them. I...
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SEC seeking public comments on ways to improve mortgage-backed, asset-backed securities
The Securities and Exchange Commission (SEC) is seeking public feedback to improve rules governing residential mortgage-backed securities (RMBS) and some aspects of asset-backed securities (ABS). T...
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Senate passes bill to end federal payments to deceased Americans
The U.S. Senate passed last week bipartisan legislation that would prevent government payments to Americans who have died. The Ending Improper Payments to Deceased People Act, introduced by U.S. Se...
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ABA report: Credit conditions face challenges over next six months
A report from the American Bankers Association predicts that credit conditions are expected to soften over the next six months. According to the ABA’s Credit Conditions Index, a weakening labor ...
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Sen. Markey urges Senate to extend small business programs
U.S. Sen. Edward Markey (D-MA) is advocating for the U.S. Senate to extend the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Earlier this month, ...
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Tennessee couple ordered to pay $5.6M in fraud case
The U.S. District Court for the Middle District of Tennessee recently ordered Tennessee residents Michael Griffis and Amanda Griffis to pay $5.6 million in restitution to victims defrauded in a commod...
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Sen. Moran leads bill to increase investments in start-up companies
A bipartisan group of senators have introduced legislation that seeks to increase the size of angel funds to facilitate more investors in start-up companies. The Expanding American Entrepreneurshi...
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Rep. Hill urges SEC to support executive order to allow alternative assets in 401(k)s
U.S. Rep. French Hill (R-AR), chairman of the House Committee on Financial Services, along with eight other Republican lawmakers, are urging the Securities and Exchange Commission (SEC) to support an ...
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Report: Attorney involvement in automobile litigation increases time, cost of claims
A new report from the American Property Casualty Insurance Association (APCIA) found that the cost of automobile litigation rises 15 to 20 times when an attorney is involved. The report, “Trends...
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SEC announces retirement of Chief Operating Officer Ken Johnson
Securities and Exchange Commission (SEC) Chief Operating Officer Ken Johnson will retire in December. “Ken has been an integral leader at the SEC for more than two decades,” SEC Chairman Paul A...
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Dollar Bank expanding wealth management program across 28 bank locations in Northeast Ohio
Dollar Bank is expanding its Dollar Investment Services wealth management program across all 28 of its bank locations in Northeast Ohio. As part of its expansion into the Northeast Ohio market, D...
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CFTC launches new stablecoin initiative
The Commodity Futures Trading Commission (CFTC) is launching an initiative for the use of tokenized collateral including stablecoins in derivatives markets. The CFTC’s Global Markets Advisory Commi...
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Sens. Warren, Sanders seek information on changes to economic data reporting
U.S. Sens. Elizabeth Warren (D-MA) and Bernie Sanders (I-VT) are among a group of senators seeking information from Trump administration officials on plans to implement changes to economic data collec...
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U.S. Senate bill proposes higher IRA withdrawals for homebuyers
Legislation recently introduced in the U.S. Senate would help more Americans buy their first homes. The Uplifting First-Time Homebuyers Act, S. 2867, would increase the Individual Retirement Account ...
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Managed Funds Association urges CFTC to eliminate dual registration requirements
The Managed Funds Association (MFA) is urging the Commodity Futures Trading Commission (CFTC) to eliminate the requirements for private fund managers to register with both it and the Securities and Ex...
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Treasury, IRS clarify who is eligible for tips tax deduction
The Treasury Department and the Internal Revenue Service recently proposed regulations identifying the occupations that customarily and regularly received tips before 2025 and that were eligible for a...
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Puerto Rican bank board chair pleads guilty to wire fraud conspiracy
The chairman of the board of Nodus International Bank in Puerto Rico has pleaded guilty for his part in a scheme to obtain more than $13.6 million from the bank which ultimately led to its failure in ...
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JEC Minority examines tariffs impact on jobs in new report
Democrats on the Congressional Joint Economic Committee released a report on the effects of the Trump administration’s tariffs on the economy and jobs, in particular. Among the key findings, the an...
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19 state AGs voice opposition to four recent CFPB proposals
A group of 19 state attorneys general, including California Attorney General Rob Bonta, voiced their opposition to a series of proposals from the Consumer Financial Protection Bureau (CFPB) that they ...
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