Columbus
Financial Regulation News
Intercontinental Exchange, Inc., affiliates charged for failure to inform SEC of cyber intrusion
On Wednesday, the Securities and Exchange Commission (SEC) said it had settled charges with The Intercontinental Exchange, Inc. (ICE) for allegedly causing nine wholly-owned subsidiaries to fail in reporting a cyber intrusion. © Shutterstock ICE agreed to pay a $10 million penalty to settle the charges, the SEC said. The settlement stems from an incident […] The post Intercontinental Exchange, Inc., affiliates charged for failure to inform SEC of cyber intrusion appeared first on Financial Regulation News.
House passes bill to provide regulatory certainty, consumer protections for digital assets
The U.S. House of Representatives passed a bill this week that seeks to provide consumer protections and regulatory certainty for digital assets. © Shutterstock The Financial Innovation and Technology for the 21st Century Act (H.R. 4763), or FIT21, would provide the Commodity Futures Trading Commission (CFTC) with new jurisdiction over digital commodities and clarifies the […] The post House passes bill to provide regulatory certainty, consumer protections for digital assets appeared first on Financial Regulation News.
Senators urge CMS to crack down on fraudulent health plan changes
On Thursday, U.S. Sen. Ron Wyden (D-OR) urged the Centers for Medicare & Medicaid Services (CMS) to enforce penalties on brokers who submit fraudulent enrollments for a health plan. © Shutterstock Wyden, the chair of the Senate Finance Committee sent a letter to Chiquita Brooks-LaSure, CMS Administrator, urging CMS to enforce civil monetary penalties on […] The post Senators urge CMS to crack down on fraudulent health plan changes appeared first on Financial Regulation News.
Financial well-being of Americans remains unchanged, Fed report says
The financial well-being of Americans remained unchanged last year, according to a report from the Federal Reserve Board.© Shutterstock The Fed’s annual Economic Well-Being of U.S. Households report said that higher prices remained a challenge for most households and workers continued to benefit from a strong labor market. The report found that in 2023, 72 […] The post Financial well-being of Americans remains unchanged, Fed report says appeared first on Financial Regulation News.
Americans lack awareness of 529 plans as they save for education, survey finds
A new survey has found that as Americans are saving for their kids higher education, they lack awareness of how 529 plans can help them. © Shutterstock According to research from Edward Jones, half of Americans (50 percent) don’t know what a 529 plan is and fewer than a quarter of them have a 529 […] The post Americans lack awareness of 529 plans as they save for education, survey finds appeared first on Financial Regulation News.
Sens. Wyden, Crapo release white paper on reforming how doctors are paid by Medicare
U.S. Sens. Ron Wyden (D-OR) and Mike Crapo (R-ID) released a white paper last week outlining a policy related to reform how physicians are paid by Medicare.© Shutterstock The white paper outlines several areas where there are opportunities for reform, including: • Creating sustainable payment updates to ensure clinicians can own and operate their practices; […] The post Sens. Wyden, Crapo release white paper on reforming how doctors are paid by Medicare appeared first on Financial Regulation News.
FDIC chair to step down after investigation of harassment, toxic culture at agency
After an investigation by an independent third party, the chairman of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, announced that he has stepped down.© FDICMartin J. Gruenberg The investigation was based on allegations of sexual harassment within the agency and a toxic work culture at the agency, which the report verified. “[F]or far too […] The post FDIC chair to step down after investigation of harassment, toxic culture at agency appeared first on Financial Regulation News.
Congressmembers laud success of IRS Free Direct File, push for permanency
On Friday, more than 130 members of Congress lauded the new Internal Revenue Service’s (IRS) Free Direct File Program and pushed for the Biden administration to make the program permanent. © Shutterstock In a letter to U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, lawmakers applauded the successful pilot program for the Direct […] The post Congressmembers laud success of IRS Free Direct File, push for permanency appeared first on Financial Regulation News.
Reps. Fitzpatrick, Cartwright introduce bill to protect public employees’ right to unionize
U.S. Reps. Brian Fitzpatrick (R-PA) and Matt Cartwright (D-PA) introduced legislation that seeks to protect the right of public employees to join unions and engage in collective bargaining on behalf of middle-class workers.© Shutterstock In 2018, the U.S. Supreme Court ruled in Janus v. American Federation of State, County and Municipal Employees (AFSCME) to overturn […] The post Reps. Fitzpatrick, Cartwright introduce bill to protect public employees’ right to unionize appeared first on Financial Regulation News.
Senate approves resolution overturning SEC’s crypto asset rule
The U.S. Senate passed a resolution overturning the U.S. Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin (SAB) 121. © Shutterstock SAB 121 provides guidance for entities related to the accounting treatment of obligations to safeguard crypto assets. Last November, a bipartisan group of Congress members, including U.S. Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand […] The post Senate approves resolution overturning SEC’s crypto asset rule appeared first on Financial Regulation News.
Lawmakers urge federal financial regulators to implement transparency act
A bipartisan group of Congress members are urging federal financial regulators to implement their respective obligations under the Financial Data Transparency Act (FDTA).© Shutterstock The Financial Data Transparency Act (FDTA) is designed to modernize the collection and dissemination of financial data by federal financial regulators. The idea is to make that information more accessible, more […] The post Lawmakers urge federal financial regulators to implement transparency act appeared first on Financial Regulation News.
U.S. Treasury Department announces federal strategy to combat illicit finance
On Thursday, the U.S. Department of the Treasury revealed its latest strategy for combating illicit financial activities. © Shutterstock The 2024 National Strategy for Combatting Terrorist and Other Illicit Financing provides the federal blueprint to disrupt and prevent illicit financial activities, as well as assessing risks and building on efforts to modernize anti-money laundering, enhance […] The post U.S. Treasury Department announces federal strategy to combat illicit finance appeared first on Financial Regulation News.
House committee passes bill to exempt small banks from certain reporting requirements
The House Financial Services Committee passed a bill that would exempt small banks and lenders from reporting requirements under the Small LENDER Act. © Shutterstock The Small LENDER Act (H.R. 1806) would codify “financial institution” as one that originates at least 500 covered transactions in each of the last two years, as opposed to the […] The post House committee passes bill to exempt small banks from certain reporting requirements appeared first on Financial Regulation News.
SEC publishes report on investment advisors
The Securities and Exchange Commission (SEC) published a new report on the investment advisory industry.© Shutterstock The SEC’s Investment Adviser Statistics report is designed to give the public insights and trends into areas such as business activities, client composition, and the types of funds advised. The report, which contains more than 50 separate tables of […] The post SEC publishes report on investment advisors appeared first on Financial Regulation News.
Legislation to protect American companies abroad introduced in Congress
On Wednesday, U.S. Rep. August Pfluger (R-TX) introduced legislation to protect American companies operating abroad. © Shutterstock The legislation, Defending American Property Abroad Act, would be aimed at countries in the Western Hemisphere who have threatened the property rights of American companies. Pfluger cited the Mexican government as an example and President Andres Manuel Lopez […] The post Legislation to protect American companies abroad introduced in Congress appeared first on Financial Regulation News.
Senators urge full funding of Unemployment Insurance administration
A group of U.S. senators are urging the Senate Appropriations Subcommittee on Labor, HHS, Education, and Related Agencies to fully fund the Unemployment Insurance (UI) administration.© Shutterstock The senators said that without robust funding, state workforce agencies will struggle to provide UI benefits for jobless workers, protect against fraud, and make long-term administrative improvements to […] The post Senators urge full funding of Unemployment Insurance administration appeared first on Financial Regulation News.
Senators introduce union transparency bill
On Tuesday, U.S. Sen. Bill Cassidy, M.D. (R-LA) introduced legislation to improve transparency in union elections. © Shutterstock Cassidy, the ranking member of the Senate Health, Education, Labor and Pensions Committee, introduced the legislation to prevent unions from misleading workers about the state of the union’s pension benefits during recruitment efforts. Cassidy said he supports […] The post Senators introduce union transparency bill appeared first on Financial Regulation News.
Federal Reserve, OCC to host webinar on the Capital One – Discover merger
The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) will hold a joint public meeting on the proposal by Capital One to acquire Discover Financial Services. © Shutterstock Back in February, Capital One, a bank and credit card issuer, announced that it was buying credit card processor Discover Financial Services […] The post Federal Reserve, OCC to host webinar on the Capital One – Discover merger appeared first on Financial Regulation News.
CFTC files charges against Texas company over cattle purchase program
The Commodity Futures Trading Commission (CFRC) filed a civil enforcement action against a Texas company and its founders for allegedly defrauding customers through a scheme involving cattle.© Shutterstock The action was filed against Agridime LLC, a Texas corporation, and its co-founders, Joshua Link of Gilbert, Arizona and Jed Wood of Ft. Worth, Texas. It was […] The post CFTC files charges against Texas company over cattle purchase program 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.