CSBS establishes new AI advisory group
The Conference of State Bank Supervisors (CSBS) has established a new advisory group on the use of artificial intelligence (AI) in the financial services sector. The CSBS Artificial Intelligence A...
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CFPB fines Fay Servicing for failing to comply with previous enforcement order
The Consumer Financial Protection Bureau (CFPB) ordered Fay Servicing to pay a multi-million-dollar penalty for violations of mortgage servicing laws, as well as violations of a past enforcement order...
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SEC approves updates to audit standards proposed by PCAOB
Two Public Company Accounting Oversight Board (PCAOB) proposals to update audit standards regarding general responsibilities of the auditor and use of technology-assisted analysis in conducting an aud...
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SEC settles charges with trust company for failing to protect client assets
The Securities and Exchange Commission settled charges against New York-based Equiniti Trust Co. for failing to assure that client securities and funds were protected against theft or misuse. Thos...
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SEC settles charges with Icahn Enterprises over disclosure violations
The Securities and Exchange Commission (SEC) has charged investor Carl Icahn and his company, Icahn Enterprises (IEP), over disclosure violations. The SEC alleges that Icahn and the company failed ...
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North Carolina becomes latest state to use IRS free Direct File tax filing tool
North Carolina will be the latest state to join IRS Direct File for Filing Season 2025, the Internal Revenue Service (IRS) and U.S Treasury announced. After a successful Pilot Program in 12 states ...
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Rep. McHenry urges CFPB to change course on credit reporting rule
U.S. Rep. Patrick McHenry (R-NC) has reached out to the Consumer Financial Protection Bureau (CFPB) over a proposed rule that would restrict the inclusion of medical debt in credit reports and scores....
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Age limit on EITC would be removed under newly introduced bipartisan bill
As more Americans expect to work past age 70 or hold off on retirement altogether, changes are being proposed on Capitol Hill to increase the age cap for the earned-income tax credit (EITC), which cur...
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Philadelphia Fed CEO Harker discusses the importance of historical data to understand economy
Speaking recently before an audience of researchers and economists, Patrick Harker, CEO of the Federal Reserve Bank of Philadelphia cited the importance of using historical data to understand today’...
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SEC charges 26 firms with recordkeeping failures, orders almost $393M in civil penalties
The Securities and Exchange Commission (SEC) on Aug. 14 announced charges against 26 broker-dealers, investment advisers, and dually registered broker-dealers and investment advisers for widespread, o...
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