Columbus
Financial Regulation News
Treasury proposes rule that would enhance authorities of Committee on Foreign Investment in the United States
The U.S. Department of the Treasury proposed rule that seeks to enhance the penalty and enforcement authorities of the Committee on Foreign Investment in the United States (CFIUS).© Shutterstock Specifically, the proposed rule would enact the following key changes: • Expanding the types of information CFIUS can require transaction parties and other persons to submit […] The post Treasury proposes rule that would enhance authorities of Committee on Foreign Investment in the United States appeared first on Financial Regulation News.
FDIC releases report on how it would conduct resolution of a GSIB organization
The Federal Deposit Insurance Corporation (FDIC) issued a report this week that examines how it would manage the orderly resolution of a large, complex financial company.© Shutterstock The report explains how the FDIC would use authorities under Title II of the Dodd-Frank Act, with a particular focus on how it expects to resolve U.S.-headquartered Global […] The post FDIC releases report on how it would conduct resolution of a GSIB organization appeared first on Financial Regulation News.
House passes workforce skills development act
On Wednesday, U.S. Rep. Virginia Foxx (R-C) announced the House had passed her workforce development bill, putting more Americans on the path to successful careers. © Shutterstock The A Stronger Workforce for America Act, will expand the skills development provided under federal law and strengthen the relationship between employers and the workforce system, Foxx said. […] The post House passes workforce skills development act appeared first on Financial Regulation News.
Bank economists take more optimistic view of credit conditions
A new report from the American Bankers Association (ABA) reveals a growing optimism among bank economists about the outlook for credit conditions over the next six months.© Shutterstock The ABA’s Credit Conditions Index rose to its highest level in two years as the Headline Credit Index increased 7.6 points in the second quarter to 26.8, […] The post Bank economists take more optimistic view of credit conditions appeared first on Financial Regulation News.
Sen. Hoeven introduces bill to strengthen crop insurance
U.S. Sen. John Hoeven (R-ND) introduced legislation this week that is designed to strengthen crop insurance and make higher levels of coverage more affordable for producers. © Shutterstock The Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act would do several things, including increase premium support for higher levels of crop insurance coverage, which will […] The post Sen. Hoeven introduces bill to strengthen crop insurance appeared first on Financial Regulation News.
Report highlight small business support for federal action on child care
On Tuesday, U.S. Sen. Jeanne Shaheen (D-NH) said a new Small Business Majority report shows that a majority of small business owners support legislative action to address child care affordability and accessibility. © Shutterstock Shaheen, chair of the Senate Committee on Small Business and Entrepreneurship, said that the report showed that more than two-thirds of […] The post Report highlight small business support for federal action on child care appeared first on Financial Regulation News.
Treasury Department proposes rule to charge excise tax on corporate stock repurchases
The U.S. Department of the Treasury and Internal Revenue Service (IRS) have proposed regulations on the stock buyback or “repurchase” excise tax.© Shutterstock This is a key provision included in the Inflation Reduction Act that seeks to ensure that large corporations pay more of their fair share in taxes. The Biden administration argues that many […] The post Treasury Department proposes rule to charge excise tax on corporate stock repurchases appeared first on Financial Regulation News.
Sen. Scott introduces measure to overturn CFPB’s credit card late fee cap rule
U.S. Sen. Tim Scott (R-SC) introduced a resolution that seeks to overturn the Consumer Financial Protection Bureau’s (CFPB) rule that puts a cap on credit card late penalties. © Shutterstock The CFPB’s rule, which was finalized in March, closed a loophole exploited by large card issuers that it says will cut late fees by more […] The post Sen. Scott introduces measure to overturn CFPB’s credit card late fee cap rule appeared first on Financial Regulation News.
Sens. Tillis, Hagerty introduce draft of bill targeted at cryptocurrency institutions
U.S. Sens. Thom Tillis (R-NC) and Bill Hagerty (R-TN) released a discussion draft of a bill that would ensure that cryptocurrency financial institutions follow Bank Secrecy Act anti-money laundering (BSA/AML) standards.© Shutterstock In addition, the Ensuring Necessary Financial Oversight and Reporting of Cryptocurrency Ecosystems (ENFORCE) Act, would provide regulators and law enforcement with additional important […] The post Sens. Tillis, Hagerty introduce draft of bill targeted at cryptocurrency institutions appeared first on Financial Regulation News.
Empower to acquire Petal, completes acquisition of Cashalo
On Monday, Empower Finance announced it would be acquiring Petal, a consumer credit card and financial technology company in New York, on the heels of acquiring Cashalo, a consumer credit and lending company in in the Philippines. © Shutterstock Empower is a leader in alternative credit underwriting, and the acquisitions position it in the U.S. […] The post Empower to acquire Petal, completes acquisition of Cashalo appeared first on Financial Regulation News.
CFPB report cites increase in use of discount points by homebuyers
A new report from the Consumer Financial Protection Bureau (CFPB) found that as overall interest rates rose, more borrowers paid “discount points” upfront.© Shutterstock The report stated that the percentage of homebuyers paying discount points roughly doubled from 2021 to 2023, with the increase even greater among borrowers with lower credit scores. The CFPB is […] The post CFPB report cites increase in use of discount points by homebuyers appeared first on Financial Regulation News.
Treasury Department accepting applications for small business investments
On Friday, the U.S. Department of Treasury announced it would be accepting applications for the Investing in American Small Business Opportunity Program (SBOP). © Shutterstock The program is part of the Treasury Department’s competitive grant program funded by the State Small Business Credit Initiative (SSSBCI). The $75 million program, is part of the American Rescue […] The post Treasury Department accepting applications for small business investments appeared first on Financial Regulation News.
ICBA poll reveals Americans attitudes toward credit card routing mandates
The Independent Community Bankers of America (ICBA) released new poll results on how Americans feel about legislation to create credit card routing mandates.© Shutterstock The survey stems from the Credit Card Competition Act (S. 1838/H.R. 3881), introduced by Sens. Richard Durbin (D-IL) and Roger Marshall (R-KS). The proposed bill would allow large merchants to route […] The post ICBA poll reveals Americans attitudes toward credit card routing mandates appeared first on Financial Regulation News.
Republican senators raise concerns about Iran sanctions waiver
A group of Republican senators, led by U.S. Sen. Tim Scott (R-SC), have raised concerns to Biden administration officials about the latest Iran sanctions waiver.© Shutterstock The sanctions waiver would grant Iran access to up to $10 billion in previously frozen funds by allowing Iraq to pay Iran for electricity. The Republicans say the waiver […] The post Republican senators raise concerns about Iran sanctions waiver appeared first on Financial Regulation News.
Colorado Chamber report examines impact of removing noneconomic damage caps
A new report assessing the impact of removing noneconomic damage caps in Colorado was released this week by the Colorado Chamber of Commerce in partnership with the American Property Casualty Insurance Association (APCIA). © Shutterstock Noneconomic damage caps are the portion of damages awarded in civil cases that attempt to compensate for an injured person’s […] The post Colorado Chamber report examines impact of removing noneconomic damage caps appeared first on Financial Regulation News.
Report: Online video game marketplaces risk to players’ financial, personal information
A new report from the Consumer Financial Protection Bureau (CFPB) has found that online video games and virtual worlds could be putting players financial and personal information at risk. © Shutterstock The report, Banking in Video Games and Virtual Worlds, said the gaming and virtual platforms increasingly resemble traditional banking and payment systems, but that […] The post Report: Online video game marketplaces risk to players’ financial, personal information appeared first on Financial Regulation News.
SEC charges Senvest Management with recordkeeping failures
On Wednesday, the Securities and Exchange Commission (SEC) announced it had charged investment advisor Senvest Management LLC for widespread and longstanding recordkeeping failures. © Shutterstock The SEC also charged Senvest with failing to enforce its code of ethics. Senvest has admitted to the facts in the Commission’s order, and agreed to pay a $6.5 million […] The post SEC charges Senvest Management with recordkeeping failures appeared first on Financial Regulation News.
Sen. Casey applauds CFPB’s bank overdraft rule
U.S. Sen. Bob Casey (D-PA) has expressed his support for a rule that would reduce excessive bank overdraft penalties.© Shutterstock The proposed rule by the Consumer Financial Protection Bureau (CFPB) would close a loophole that exempts overdraft lending services from longstanding provisions of the Truth in Lending Act. Under this rule, large banks would be […] The post Sen. Casey applauds CFPB’s bank overdraft rule appeared first on Financial Regulation News.
More states join federal lawsuit against financial company
Six more states have joined a lawsuit against a financial company for violations of multiple consumer protection laws that cost consumers hundreds of millions of dollars.© Shutterstock The suit is against Mariner Finance, and it was initially filed by Pennsylvania, the District of Columbia, New Jersey, Oregon, Utah, and Washington in federal court. Just recently, […] The post More states join federal lawsuit against financial company appeared first on Financial Regulation News.
Report: Confidence among small businesses is on the rise
Confidence among small business owners is rising, according to the latest MetLife and U.S. Chamber of Commerce Small Business Index.© Shutterstock The index, which measures small business owner’s confidence, stood at 62.3 in the first quarter, up from 61.3 the previous quarter. The increase reflects the fact that more small businesses see an improving economy. […] The post Report: Confidence among small businesses is on the rise appeared first on Financial Regulation News.
Financial Regulation News
2K+
Posts
2M+
Views
Financial Regulation News, published by Macallan Communications, is a daily news source on the regulations that impact global and regional financial institutions and their customers. With our finger on the pulse of Washington, our team of experienced journalists provides the most salient financial policy news each day and exclusive features in a succinct format. We strive to offer insights on the latest developments in Congress, news about the federal and state regulators that hold power over financial markets and banking industry, and the reaction their activities generate from Wall Street to Main Street.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.