Choose your location
Financial Regulation News
SEC, FinCEN propose new rule to curb illicit finance activity
The Securities and Exchange Commission (SEC), along with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a new rule designed to prevent illicit finance activity.© Shutterstock Specifically, the proposal would require SEC-registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish, document, and maintain written customer identification programs (CIPs). The […] The post SEC, FinCEN propose new rule to curb illicit finance activity appeared first on Financial Regulation News.
Treasury, IRS announces date when it will accept submissions for new energy credit program
Applications for the federal Low-Income Communities Bonus Credit Program will soon be accepting applications for the 2024 program year, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced.© Shutterstock This program, established via the Inflation Reduction Act, provides a 10 or 20-percentage point boost to the investment tax credit for qualified […] The post Treasury, IRS announces date when it will accept submissions for new energy credit program appeared first on Financial Regulation News.
CFTC settles charges against Falcon Labs, Ltd. for illegal trading
On Monday, the Commodity Futures Trading Commission (CFTC) announced it had simultaneously filed and settled charges against Falcon Labs, Ltd., for failing to register with the CFTC as a futures commission merchant (FCM) . © Shutterstock Falcon Labs, organized under the laws of the Seychelles, was ordered to cease and desist from acting as an […] The post CFTC settles charges against Falcon Labs, Ltd. for illegal trading appeared first on Financial Regulation News.
House rules committee to consider bill that provides regulatory clarity on digital assets
The House Committee on Rules will consider a bill that seeks to provide regulatory clarity for digital assets.© Shutterstock Specifically, the rules committee will consider the Financial Innovation and Technology for the 21st Century (FIT21) Act (H.R. 4763). The FIT for the 21st Century Act is seen as a first step towards achieving regulatory clarity […] The post House rules committee to consider bill that provides regulatory clarity on digital assets appeared first on Financial Regulation News.
Rep. Kim introduces Small Dollar Loan Certainty Act
U.S. Rep. Young Kim (R-CA) introduced legislation this week that seeks to codify policies related to small-dollar loans. © Shutterstock Federal agencies, in May of 2020, issued guidance for responsible small-dollar loans, allowing banks and credit unions to offer automated small loans and create responsible lending principles. Kimʻs bill, the Small Dollar Loan Certainty Act […] The post Rep. Kim introduces Small Dollar Loan Certainty Act appeared first on Financial Regulation News.
Cloudflare partners with federal agencies on early warning intelligence for financial institutions
On Thursday, Cloudflare announced it would be partnering with the U.S. Department of Treasury and Pacific Northwest National Laboratory to improve cyber resilience for the financial services industry. © Shutterstock The partnership will make available an advanced threat intelligence feed through Cloudflare. Financial services institutions using the Cloudflare Gateway will have privileged access to Custom […] The post Cloudflare partners with federal agencies on early warning intelligence for financial institutions appeared first on Financial Regulation News.
Federal Reserve details results of climate scenario analysis conducted on banks
The Federal Reserve Board issued a report last week that details the Climate Scenario Analysis (CSA) exercise that it conducted with six of the nation’s largest banks.© Shutterstock The report describes how these banks are using climate scenario analysis to explore the resiliency of their business models to climate-related financial risks. The banks that took […] The post Federal Reserve details results of climate scenario analysis conducted on banks appeared first on Financial Regulation News.
SIFMA, financial firms launch effort to explore feasibility of a shared ledger technology
Financial firms and organizations, including the Securities Industry and Financial Markets Association SIFMA) announced a Regulated Settlement Network (RSN) proof-of-concept (PoC) to explore the feasibility of shared ledger technology. © Shutterstock The technology would be used to settle tokenized commercial bank money, wholesale central bank money, U.S. Treasury securities and other tokenized assets. In the […] The post SIFMA, financial firms launch effort to explore feasibility of a shared ledger technology appeared first on Financial Regulation News.
Survey shows most Americans missing out on higher interest on savings
A new survey from Santander Bank has found that less than 20 percent of Americans are using higher-rate savings accounts to grow their savings. © Shutterstock In the bank’s inaugural Growing Personal Savings (GPS) Tracker, the bank surveyed 2,203 American adults between March 16-18, 2024. The survey found that a general lack of financial knowledge […] The post Survey shows most Americans missing out on higher interest on savings appeared first on Financial Regulation News.
Reps. LaHood, Ferguson introduce bill to foster the return of intellectual property to United States
U.S. Reps. Darin LaHood (R-IL) and Drew Ferguson (R-GA) introduced legislation this week that seeks to remove obstacles within the tax code to incentivize American businesses to return intellectual property to the United States.© Shutterstock The Bringing Back American Jobs Through Intellectual Property Repatriation Act seeks to support increased research and innovation domestically, while protecting […] The post Reps. LaHood, Ferguson introduce bill to foster the return of intellectual property to United States appeared first on Financial Regulation News.
DOT launches initiative to link small business to private capital investors
On Tuesday, the U.S. Department of Transportation’s Office of Small and Disadvantaged Business Utilization (OSDBU) announced it had launched a new initiative to connect small businesses to private capital investors. © Shutterstock Called the U.S. DOT Connect to Capital, the program is part of a new comprehensive Access to Capital Initiative designed to help small […] The post DOT launches initiative to link small business to private capital investors appeared first on Financial Regulation News.
ICBA launches next edition of its ThinkTech Accelerator program
The Independent Community Bankers of America (ICBA) launched the seventh edition of its ICBA ThinkTECH Accelerator program (AP7), which promotes community bank innovation. © Shutterstock This second cohort of the year for the program will focus on companies providing solutions and support for critical areas, including artificial intelligence, financial health and wellness, subscription management, digital […] The post ICBA launches next edition of its ThinkTech Accelerator program appeared first on Financial Regulation News.
FDIC released independent report on review of workplace culture, alleged misconduct at the agency
The Federal Deposit Insurance Corporation (FDIC) released a report this week reviewing the working place culture at the FDIC and allegations of harassment.© Shutterstock The review, done by Cleary Gottlieb, an independent third-party, reviewed allegations of sexual harassment and other interpersonal misconduct at the FDIC. The independent review, the report said, found that, for far […] The post FDIC released independent report on review of workplace culture, alleged misconduct at the agency appeared first on Financial Regulation News.
Federal regulators propose rule dealing with incentive-based compensation
A new rule has been proposed by federal regulators that addresses incentive-based compensation arrangements for large financial institutions.© Shutterstock Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires Federal regulators to jointly prescribe regulations or guidelines with respect to incentive-based compensation practices at certain financial institutions that have $1 billion or […] The post Federal regulators propose rule dealing with incentive-based compensation appeared first on Financial Regulation News.
CFPB to require loan organizations to pay for student loan servicing failures
On Monday, the Consumer Financial Protection Bureau (CFPB) said it was taking action against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency ( PHEAA) for failure to adequately service student loans. © Shutterstock According to the CFPB, the National Collegiate Student Loan Trusts purchases and securitizes student loans, while PHEAA services […] The post CFPB to require loan organizations to pay for student loan servicing failures appeared first on Financial Regulation News.
New Bipartisan Real Estate Caucus draws praise from industry
The launching of the new Bipartisan Congressional Real Estate Caucus has been embraced by groups across the various industries that intersect with real estate. © Shutterstock The group – including the National Association of Realtors (NAR), the National Association of Home Builders (NAHB), the Mortgage Bankers Association (MBA), the American Land Title Association (ALTA), National […] The post New Bipartisan Real Estate Caucus draws praise from industry appeared first on Financial Regulation News.
U.S. Sens. Wyden and Crapo introduce proposal to address generic drug shortages
U.S. Sens. Ron Wyden (D-OR) and Mike Crapo (R-ID) introduced a draft legislative proposal to address shortages of generic medicines, including chemotherapy drugs and ADHD medications.© Shutterstock The proposal would establish a new program in Medicare for hospitals and physicians to incentivize transparent, reliable, and resilient purchasing practices across supply-chain participants. This would include driving […] The post U.S. Sens. Wyden and Crapo introduce proposal to address generic drug shortages appeared first on Financial Regulation News.
SEC charges audit firm with non compliance of PCAOB accounting standards
The Securities and Exchange Commission (SEC) filed charges against an audit firm for failures to comply with Public Company Accounting Oversight Board (PCAOB) standards.© Shutterstock The SEC charged BF Borgers CPA and its owner, Benjamin F. Borgers, with deliberate and systemic failures to comply with PCAOB standards in its audits and reviews incorporated in more […] The post SEC charges audit firm with non compliance of PCAOB accounting standards appeared first on Financial Regulation News.
Federal regulators release guide for community banks in managing third party risks
A guide to support community banks in managing risks presented by third-party relationships was introduced by federal bank regulatory agencies this week. © Shutterstock Community banks engage with third parties to help them better compete in an evolving financial services landscape. However, third-party relationships present varied risks that community banks. As such, banks must be […] The post Federal regulators release guide for community banks in managing third party risks appeared first on Financial Regulation News.
Small business owners focused on short-term challenges, survey finds
Small business owners are focused on staying afloat in the short-term, rather than planning for the long-term, a new survey has found. © Shutterstock The survey, Truist’s annual Small Business Pulse Survey, found that following a year of inflation and economic uncertainty, small business owners are reporting higher levels of stress even as they remain […] The post Small business owners focused on short-term challenges, survey finds 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.