CFPB details leadership changes
The Consumer Financial Protection Bureau (CFPB) recently announced a new Assistant Director for the Office of Supervision Policy and Assistant Director for the Office of Enforcement. Lorelei Salas...
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Bill seeks to curb fossil fuel projects
U.S. Sen. Jeff Merkley (D-OR) and Rep. Jared Huffman (D-CA) introduced last week legislation to address international financial institutions financing fossil fuel projects, which the legislators maint...
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SEC slaps firm with $8M penalty for inadequate risk management policies
The Fixed Income Clearing Corporation (FICC) has agreed to pay an $8 million penalty to settle charges filed by the Securities and Exchange Commission (SEC) that it failed to have adequate risk manage...
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Sens. Crapo, Young seek SSI annual report
U.S. Sens. Mike Crapo (R-Idaho) and Todd Young (R-IN) recently forwarded correspondence to the Social Security Administration (SSA) Acting Commissioner, seeking a status update regarding the agency's ...
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Bill advocates commission-free trading preservation
Sen. Pat Toomey (R-PA) has introduced a bill that seeks to preserve commission-free trading by prohibiting the Securities and Exchange Commission (SEC) from banning payment for order flow. The Inve...
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Sen. Hagerty urges CFPB not to stifle innovation in cryptocurrency
U.S. Sen. Bill Hagerty (R-TN) is urging Rohit Chopra, director of the Consumer Financial Protection Bureau, not to stifle innovation in the cryptocurrency space. “Digital ledger technology offer...
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Congressional leaders, White House excluded tax reporting proposal from reconciliation package
Congressional leaders did not include the provision requiring increased financial institution reporting to the Internal Revenue Service in the reconciliation legislation unveiled last week. The pr...
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Rep. Correa, other Democratic lawmakers express concerns about tax reporting proposal
A group of 20 Democratic members of the House of Representatives has expressed their concerns to Speaker of the House Nancy Pelosi (D-CA) and Chairman of Ways and Means Richard Neal (D-MA) on the new ...
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Senate Democrats introduce bill that would ban Fed officials from trading individual stocks
U.S. Sen. Sherrod Brown (D-OH), along with several other Senate Democrats, introduced a bill that would prohibit Federal Reserve officials from trading individual stocks. The Ban Conflicted Tradin...
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Sen. Wyden offers updated proposal of Billionaires Income Tax
U.S. Sen. Ron Wyden (D-OR), chair of the Senate Finance Committee, has issued an updated version of the Billionaires Income Tax, which he said would ensure billionaires pay tax annually. “There a...
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