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Home » Regulation » Page 276

Regulation

Banking groups call on CFPB to subject fintechs to same level of lending oversight as banks

By Dave Kovaleski   |   September 19, 2022   |   Featured

The Consumer Bankers Association (CBA) and the Center for Responsible Lending (CRL) are urging the Consumer Financial Protection Bureau (CFPB) to develop a rule that makes non-depository, non-bank len...

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Bill introduced in Senate that would prohibit Federal Reserve from issuing CBDC

By Dave Kovaleski   |   September 16, 2022   |   Digital Currency

A bill was introduced in the U.S. Senate that would prohibit the ability of Federal Reserve banks to issue central bank digital currency (CBDC). The No Central Bank Digital Currency Act (S.4831), i...

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Proposed SEC rule revisions address securities clearinghouses oversight

By Douglas Clark   |   September 16, 2022   |   Federal

Securities and Exchange Commission (SEC) officials have outlined proposed rule changes focusing on Treasury securities clearinghouses oversight. “The Securities and Exchange Commission plays a cr...

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Rep. Huffman introduces bill that would allow cannabis producers to sell direct to consumers

By Dave Kovaleski   |   September 16, 2022   |   Cannabis Banking

U.S. Rep. Jared Huffman (D-CA) introduced a bill that would allow small cannabis producers to ship and sell their products directly to consumers. The Small and Homestead Independent Producers (SHI...

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House advances Veterans Affairs home financing legislation

By Douglas Clark   |   September 16, 2022   |   Federal

U.S. Rep. Mike Bost is touting the House of Representatives' advancement of legislation seeking to enhance Veterans Affairs (VA) home loan financing accessibility. The lawmaker indicated the Improv...

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Reps. Pappas, Fitzpatrick renew call for vote on stock trading ban for members of Congress

By Dave Kovaleski   |   September 15, 2022   |   Federal

U.S. Reps. Chris Pappas (D-NH) and Brian Fitzpatrick (R-PA) renewed their call to House leadership to vote on legislation that would ban stock trading by members of Congress. “As we work to ensu...

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Republican senators oppose proposed FTC auto financing guidance

By Douglas Clark   |   September 15, 2022   |   Federal

U.S. Sens. Cynthia Lummis (R-WY), John Thune (R-SD), Todd Young (R-IN), Shelley Moore Capito (R-WV), Mike Lee (R-UT), and Dan Sullivan (R-AK) forwarded correspondence Tuesday to Federal Trade Commissi...

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SEC charges four underwriters for failure to comply with municipal bond disclosure requirements

By Douglas Clark   |   September 15, 2022   |   Federal

Securities and Exchange Commission (SEC) officials have detailed a complaint against four underwriting firms, alleging failure to comply with municipal bond offering disclosure requirements. The SE...

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FINRA fines BofA Securities for reporting violations

By Dave Kovaleski   |   September 14, 2022   |   Federal

The Financial Industry Regulatory Authority (FINRA) has fined BofA Securities for failing to report over-the-counter (OTC) options positions to the Large Options Positions Reporting system (LOPR). ...

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Republican lawmakers urge administration to consider energy concerns with legalizing marijuana nationally

By Dave Kovaleski   |   September 14, 2022   |   Cannabis Banking

U.S. Reps. Earl Carter (R-GA) and Doug Lamborn (R-CO) are urging the Biden administration to consider the threats that the potential nationwide legalization of marijuana would pose to the nation's ene...

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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

  • House Ways and Means Committee advances bill to alter tax code for digital assets
  • Senate votes down CLARITY Act cryptocurrency bill
  • Enova withdraws bid to acquire digital bank Grasshopper
  • Brazil-based Nu launches banking, financial products in United States
  • U.S. Bank executed pilot transaction utilizing its USBDC stablecoin
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