The Association of International Certified Professional Accountants (AICPA) has developed criteria to help increase transparency around stablecoins. Stablecoins have gained prominence for their role ...
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The U.S. Department of the Treasury and Internal Revenue Service (IRS) on Dec. 1 released guidance for the clean vehicle provisions of the Inflation Reduction Act (IRA). The guidance seeks to provide...
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The U.S. House of Representatives on Dec. 1 passed a resolution to stop the Consumer Financial Protection Bureau (CFPB) from enforcing its data collection rule. The resolution now moves to the preside...
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U.S. Sens. Sherrod Brown (D-OH) and Jack Reed (D-RI) are urging financial regulators to assess the potential risks posed by the growing private credit market. In a letter to leaders at the Federal...
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U.S. Sens. Ron Wyden (D-OR) and Mike Crapo (R-ID) are among a group of senators calling on President Joe Biden to reverse a decision by the U.S. Trade Representative (USTR) to withdraw support for com...
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Net income for the nation’s banks fell 3.4 percent to $68.4 billion in the third quarter, according to the Federal Deposit Insurance Corporation’s (FDIC) Quarterly Banking Profile. The report ...
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U.S. Sen. Katie Britt (R-AL) is among a group of senators who introduced a bill that would limit the authority of the Federal Insurance Office (FIO). Britt's bill, the Insurance Data Protection Ac...
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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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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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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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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. 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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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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