U.S. Sens. Ben Cardin (D-MD) and Steve Daines (R-MT) introduced a bill this week in the Senate that would foster the growth of S corporations that are owned by Employee Stock Ownership Plans (S-ESOP)....
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A Public Company Accounting Oversight Board (PCAOB) report maintains there has been a year-over-year rise in the number of deficient audits at audit firms the PCAOB inspected last year. “These fi...
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The Office of the Comptroller of the Currency (OCC) has detailed a $15 million civil money penalty against American Express National Bank (American Express). The OCC alleged the financial instituti...
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U.S. Reps. Vicente Gonzalez (D-TX) and Brian Fitzpatrick (R-PA) introduced legislation recently that would expand credit union business lending ability to $100,000 -- up from the current $50,000. ...
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U.S. Rep. Lloyd Smucker (R-PA) is sponsoring a bill in the House that would make permanent a tax provision within the 2017 Tax Cuts and Jobs Act. His bill, the Main Street Tax Certainty Act (H.R. 4...
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The Managed Funds Association (MFA) is urging Securities and Exchange Commission (SEC) to consider the aggregate cost of its rulemaking on investment advisers, investors, and the markets. Instead,...
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The U.S. Federal Reserve Board issued a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, this week. The fine and consent order are for misconduct by Credit Suisse,...
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The Consumer Financial Protection Bureau (CFPB) has filed suit against lease-to-own finance company Snap Finance, alleging the business deceived consumers, obscured financing agreement terms and made ...
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U.S. Sens. John Thune (R-SD) and Mike Rounds (R-SD) are commending Senate colleagues for action advancing their Tribal Trust Land Homeownership Act. The measure would create statutory timelines in ...
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The Independent Community Bankers of America (ICBA) released the results of a new poll on proposed credit card routing restrictions. The proposed restrictions stem from the Credit Card Competition ...
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