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Home » Regulation » Page 294

Regulation

Legislation seeks to address discrimination among financial institutions

By Douglas Clark   |   July 28, 2022   |   Federal

U.S. Sens. Sherrod Brown (D-OH) and Cory Booker (D-NJ) joined 17 colleagues in reintroducing the Fair Access to Financial Services Act, which would prohibit banks and other financial institutions from...

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CFPB penalizes Hyundai for providing inaccurate information to credit reporting companies, orders it to pay $19M

By Douglas Clark   |   July 28, 2022   |   Federal

The Consumer Financial Protection Bureau (CFPB) has penalized Hyundai Capital America (Hyundai) $19 million, alleging Hyundai repeatedly provided inaccurate information to nationwide credit reporting ...

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Sens. Toomey, Sinema introduce bill to exempt taxes on small crypto purchases

By Dave Kovaleski   |   July 28, 2022   |   Digital Currency

U.S. Sens. Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ) introduced a bill that would exempt small personal transactions that use virtual currencies for goods and services from taxation. The Virtual ...

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Reps. Norton, Spanberger ask GAO to examine Thrift Savings Plan online system

By Dave Kovaleski   |   July 27, 2022   |   Federal

U.S. Reps. Eleanor Holmes Norton (D-DC) and Abigail Spanberger (D-VA) are asking the Government Accountability Office to examine the new Thrift Savings Plan (TSP) online system after hearing complaint...

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More than 200 organizations advocate passage of Pharmacy Benefit Manager Transparency Act

By Douglas Clark   |   July 27, 2022   |   Federal

The Food Industry Association said 207 organizations support the Pharmacy Benefit Manager (PBM) Transparency Act (S. 4293), which empowers the Federal Trade Commission (FTC) to increase drug pricing t...

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Justice Department details guilty plea of Titanium Blockchain Infrastructure Services CEO

By Douglas Clark   |   July 27, 2022   |   Digital Currency

Department of Justice officials have detailed the guilty plea of the Titanium Blockchain Infrastructure Services (TBIS) CEO for his role in a cryptocurrency fraud scheme involving an initial coin offe...

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Illinois sees spike in tax revenue from sales of adult-use cannabis in fiscal 2022

By Dave Kovaleski   |   July 27, 2022   |   Cannabis Banking

The State of Illinois saw a massive 50 percent increase in total tax reported from adult-use cannabis over the past year. Specifically, tax revenue went from $297.7 million in fiscal year 2021 to $...

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Bill seeks increased CFPB small business accountability

By Douglas Clark   |   July 26, 2022   |   Federal

U.S. Rep. Scott Fitzgerald (R-WI) has introduced a bill that seeks to restore Consumer Financial Protection Bureau (CFPB) small business accountability. The Making the CFPB Accountable to Small Bus...

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Sens. Braun, Scott introduce bill to analyze inflationary impact of executive orders

By Dave Kovaleski   |   July 26, 2022   |   Featured

U.S. Sens. Mike Braun (R-IN) and Rick Scott (R-FL) introduced legislation requiring the administration to publish the inflationary impact of executive actions before enacting them. Specifically, th...

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CBO, Joint Committee on Taxation analyze impact of permanent tax credits on deficit

By Dave Kovaleski   |   July 26, 2022   |   Federal

The Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) analyzed the impact on the federal deficit if a proposal to make permanent the enhanced premium tax credit structure is ...

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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

  • CFTC proposes rule to set regulatory framework for crypto assets
  • Fiserv launches digital asset platform for financial institutions
  • Blockchain Association CEO to step down
  • Fed seeking feedback on two GENIUS Act stablecoin implementation proposals
  • SEC issues temporary exemption to facilitate the trading of tokenized stocks
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