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Monday, May 19th, 2025

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Regulation

House advances Transportation, Housing and Urban Development appropriations bill

By Dave Kovaleski   |   July 22, 2022   |   Federal

The U.S. House of Representatives recently advanced the Transportation, Housing and Urban Development (T-HUD) appropriations bill for fiscal year 2023. The bill provides $90.9 billion in funding, ...

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Rep. Davis introduces bill to protect Social Security benefits for public service workers

By Dave Kovaleski   |   July 21, 2022   |   Featured

U.S. Rep. Rodney Davis (R-IL) is sponsoring legislation that would eliminate the eliminates the windfall elimination provision (WEP) and the government pension offset (GPO) of the Social Security Act....

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Connecticut Consumer Protection Department issues update on cannabis cultivation licensure process

By Douglas Clark   |   July 21, 2022   |   Cannabis Banking

The Connecticut Department of Consumer Protection (DCP) is encouraging qualifying Social Equity Applicants to proceed in the application review process for Cultivators in a Disproportionately Impacted...

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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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Cannabis Banking

  • 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
  • Senators push for legal cannabis businesses to have SBA access
  • Delaware to consider bill protecting financial businesses serving legal marijuana industry

Digital Currency

  • House Republican leaders draft of bill to establish U.S. digital asset framework
  • Sen. Thune to expedite vote on GENIUS Act stablecoins bill
  • Federal Reserve Board withdraws crypto-asset bank guidance
  • PGI Global founder charged in crypto fraud scheme
  • SEC Crypto Task Force to hold crypto custody roundtable

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  • Legislation would help small businesses bring new technologies to market
  • Commercial mortgage delinquency rates increase in first quarter
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  • AICPA makes recommendations to IRS on cannabis businesses in advance of marijuana reclassification
  • ISDA extends digital regulatory reporting platform to cover new rules in Canada

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