The Public Company Accounting Oversight Board (PCAOB) issued a proposal this week that is designed to improve audit quality and enhance investor protection. The proposal addresses aspects of design...
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U.S. House of Representatives passed legislation this week that reverses actions taken by the Biden administration on the Loan-Level Price Adjustment (LLPA) mortgage rule. The Middle-Class Borrower...
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The U.S. Department of the Treasury approved $195.7 million for high-speed internet projects in Washington state. The grant, which comes through the Treasury’s Capital Projects Fund (CPF), will c...
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The House Appropriations Subcommittee on Financial Services and General Government (FSGG) included several items of interest to credit unions in its FY24 draft bill, including Consumer Financial Prote...
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A bipartisan group of senators have introduced legislation that would provide Medicare coverage for cancer screening tests. The Medicare Multi-Cancer Early Detection (MCED) Screening Coverage Act ...
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Legislation that would allow employees to use money from their employer to buy a healthcare plan that works best for them passed the U.S. House of Representatives on Wednesday. Introduced by U.S. R...
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U.S. Reps. Bill Huizenga (R-MI) and Andy Barr (R-KY) introduction legislation this week in the House that amends the securities laws to put parameters around disclosures. Their bill, the Mandatory...
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The U.S. Department of the Treasury released a report this week that reviewed and assessed the policies of major U.S. trading partners. Among the major findings, the semiannual Report to Congress o...
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The Securities and Exchange Commission (SEC) secured emergency relief in an action involving Binance Holdings Limited and its crypto trading platform. Specifically, all the defendants in its litiga...
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The Federal Deposit Insurance Corporation (FDIC) is demanding that three companies and certain of their officers cease and desist from making false and misleading statements about FDIC deposit insuran...
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U.S. Sens. Sherrod Brown (D-OH) and Tim Scott (R-SC) introduced legislation to hold senior executives of failed banks accountable on several fronts. Specifically, the Recovering Executive Compensat...
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A bill that would streamline healthcare reporting requirements for employers was advanced by the House Committee on Ways and Means this week. The Employer Reporting Improvement Act would accomplis...
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The Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective for Spring 2023, highlighting key issues facing the federal banking system. Overall, the OCC reported t...
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The Blockchain Association submitted additional comments to the Securities and Exchange Commission’s proposed rule to amend the interpretation of the definition of “exchange.” The SEC has pro...
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U.S. Rep. Patrick McHenry (R-NC) introduced two bills this week to reform the Financial Crimes Enforcement Network (FinCEN). One of the bills is the Accountability Through Confirmation Act of 2023,...
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U.S. Sens. Todd Young (R-IN) and Joni Ernst (R-IA) proposed legislation to reauthorize and update the Small Business Administration’s Service Corps of Retired Executives (SCORE) program. The SBA...
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A group of leading House Republicans are asking Biden administration officials for details on its plan for educating small businesses about their reporting responsibilities pertaining to the Financial...
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Federal regulatory agencies are seeking public comment on proposed guidance that addresses reconsiderations of value (ROV) for residential real estate transactions. ROVs are requests from a financi...
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The U.S. Securities and Exchange Commission (SEC) approved rule changes to remove and replace references to credit ratings from existing exceptions in Regulation M. Specifically, the amendments wil...
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A bipartisan group of senators introduced legislation this week that seeks to increase competition in the credit and payment processing space. Essentially, the Credit Card Competition Act seeks to ...
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