SEC, Zoe Financial settle case
The Securities and Exchange Commission (SEC) and New York-based investment adviser Zoe Financial settled their case on Monday. Zoe Financial had been charged with failing to fully and fairly discl...
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Legislation introduced to boost American worker retirement savings
U.S. Sen. Ron Wyden (D-OR), ranking member of the Senate Finance Committee, has introduced legislation that will boost American retirement savings. The Savers Match Enhancement Act would double th...
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California regulators seize Nano Banc and appoint FDIC as receiver
The California Department of Financial Protection and Innovation (DFPI) seized Nano Banc and appointed the Federal Deposit Insurance Corporation (FDIC) as a receiver. The moves come after Irv...
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House Financial Services Committee Democrats urge longer public comment on CRA proposal
Democratic members of the U.S. House Financial Services Committee, led by ranking member Rep. Maxine Waters (D-CA), are urging the Federal Deposit Insurance Corporation (FDIC) and the Office of the ...
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Financial industry associations offer recommendation to improve FCC’s robocall scorecard
Several financial industry associations expressed their support for the Federal Communications Commission’s (FCC) proposed Robocall Mitigation Scorecard, but made some recommendations to improve upo...
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More than $8M in FAST Grants awards by Small Business Administration
The U.S. Small Business Administration (SBA) announced it has awarded more than $8 million in Federal and State Technology (FAST) Partnership Program grants. The grants, given to 50 organizations ...
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Fed seeking feedback on two GENIUS Act stablecoin implementation proposals
The Federal Reserve Board is seeking public comment on two proposals related to establishing a regulatory framework for payment stablecoin issuers under the GENIUS Act. The first proposal would req...
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SBA, IRS step up efforts to identify pandemic relief fraud
The U.S. Small Business Administration (SBA) and the Internal Revenue Service (IRS) are stepping up their efforts to address suspected pandemic relief fraud. Earlier this year, SBA referred more th...
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SEC censures broker dealer for repeated compliance failures
The Securities and Exchange Commission announced the censure of a New York-based broker dealer for longstanding compliance violations. The SEC said OTC Link LLC was ordered to pay a $575,000 civi...
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Sen. Britt introduces bill to update asset-based thresholds for banks
U.S. Sen. Katie Britt (R-AL) introduced legislation this week that seeks to update asset-based thresholds in federal banking law. Many of the asset thresholds Congress established to tailor enhance...
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