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Home » News » Page 349

News

Bill seeks to enhance postsecondary education financing

By Douglas Clark   |   July 21, 2022   |   Federal

U.S. Sens. Todd Young (R-IN), Mark Warner (D-VA), Marco Rubio (R-FL), and Chris Coons (D-DE) have reintroduced the ISA Student Protection Act, which supports a financing tool for students pursuing pos...

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Senate Republican voice concerns over net investment income tax expansion

By Dave Kovaleski   |   July 21, 2022   |   Federal

Republican members on the U.S. Senate Finance Committee expressed concerns to their senate colleagues over a proposal to expand the net investment income tax (NIIT). The NIIT is a 3.8 percent tax i...

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Treasury adds nine state plans to aid small business growth

By Douglas Clark   |   July 20, 2022   |   Federal

The U.S. Department of Treasury has added nine state plans approved under the State Small Business Credit Initiative (SSBCI) to promote small business growth. The Treasury Department has approved o...

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CFTC extends public comment period for RFI on climate-related financial risk

By Dave Kovaleski   |   July 20, 2022   |   Federal

The Commodity Futures Trading Commission (CFTC) is extending the public comment period on a recent request for information it issued on climate-related financial risk. The deadline to submit public...

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Federal Reserve issues proposal on default rules for LIBOR reference rate

By Dave Kovaleski   |   July 20, 2022   |   Featured

The Federal Reserve Board is seeking public comment on a proposal that provides default rules for certain contracts that use the LIBOR reference rate, which will be discontinued next year. LIBOR, ...

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New York announces $5M in funding for cannabis accreditation programs

By Douglas Clark   |   July 20, 2022   |   Cannabis Banking

New York Gov. Kathy Hochul said $5 million has been earmarked for SUNY and CUNY community colleges to create credential programs or courses aiding pathways to cannabis industry employment. "New Yo...

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CFPB fines Bank of America over disbursement of unemployment benefits during pandemic

By Dave Kovaleski   |   July 19, 2022   |   Featured

The Consumer Financial Protection Bureau (CFPB) fined Bank of America $100 million for mishandling the disbursement of state unemployment benefits during the height of the pandemic. The bank autom...

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Study examines financial capacity growth amid pandemic circumstances

By Douglas Clark   |   July 19, 2022   |   Federal

Findings from a Financial Industry Regulatory Authority (FINRA) Investor Education Foundation study maintains adults generally fared better in 2021 than in the decade leading up to the pandemic. â€...

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CFTC prevails in fraud case related to binary options, foreign currency transcations

By Dave Kovaleski   |   July 19, 2022   |   Federal

The Commodity Futures Trading Commission was granted a motion for entry of default judgment in a fraud case connected with binary options and retail foreign currency (forex) transactions. Specifica...

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Colorado Gov. Polis issues marijuana-based Executive Order

By Douglas Clark   |   July 19, 2022   |   Cannabis Banking

Colorado Gov. Jared Polis has signed an Executive Order that ensures no Coloradan is subject to penalization for possession, cultivation, or use of marijuana in light of state legalization. Polis c...

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Cannabis Banking

  • Bill to provide cannabis businesses with banking services introduced in House
  • Pennsylvania AG among coalition urging Congress to pass cannabis banking bill
  • New York State hits $1B in cannabis retail sales
  • AICPA makes recommendations to IRS on cannabis businesses in advance of marijuana reclassification
  • CTrust launches credit scoring platform for cannabis businesses

Digital Currency

  • Crypto Council, Blockchain Association file suit against Illinois’ digital assets tax
  • SEC proposed new rules for crypto assets
  • Treasury seeking public comments on implementation of GENIUS Act
  • Report outlines how Clarity Act could weaken digital asset law enforcement tools
  • Organizations support Digital Asset Market Clarity Act
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