CFPB publishes bulletin on crypto scams
The Consumer Financial Protection Bureau (CFPB) released a bulletin last week that highlights complaints the bureau has received related to crypto assets. From October 2018 to September 2022, the ...
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Only 11 percent of banks are positioned for growth, new study finds
A new study by the ROIG Group found that only about 11 percent of U.S. banks are well-positioned right now to adopt growth activities. Conversely, the other 89 percent should be focused on other ch...
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CUNA reaches out to Treasury on need for digital asset oversight
The Credit Union National Association (CUNA) reached out to the U.S. Treasury with its views on regulating digital assets. In a letter to Treasury’s Office of Strategic Policy, Terrorist Financin...
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New York Federal Reserve Bank releases results of first phase of CBDC Project Cedar
The Federal Reserve Bank of New York released a report that includes the first phase of results from a multiphase research effort to develop a technical framework for a wholesale central bank digital ...
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Federal Reserve issues proposal to publish list of banks that have access to Fed accounts
The Federal Reserve Board is seeking public comment on a proposal to publish a periodic list of depository institutions that have access to Federal Reserve accounts and payment services. The longst...
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Sen. Hickenlooper to introduce bill to establish framework for federal marijuana legalization
U.S. Sen. John Hickenlooper (D-C)) will introduce legislation that directs the attorney general to develop a regulatory framework for marijuana that would be enacted as soon as the federal government ...
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BNP Baribas first to implement ISDAʻs Digital Regulatory Reporting initiative
BNP Paribas has implemented a new initiative created by the International Swaps and Derivatives Association (ISDA) to enable digital regulatory reporting under the US Commodity Futures Trading Commiss...
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Sens. Thune, Grassley to introduce bill that gives Congress oversight of IRS funding
U.S. Sens. John Thune (R-SD) and Chuck Grassley (R-IA) plan to introduce legislation that would give Congress a direct say in how $80 billion of new funding for the Internal Revenue Service (IRS) coul...
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U.S. Bank survey finds most CFOs are concerned about improving risk management
U.S. Bank released its annual CFO Survey this week, which finds that priorities have shifted for finance leaders in this challenging economic environment. Specifically, the survey found that impro...
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IRS reports estimated gross tax gap increased to $496B
The Internal Revenue Service (IRS) reported that the estimated gross tax gap increased to $496 billion, a rise of over $58 billion from the prior estimate, for the tax years 2014 through 2016. The...
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