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Results 1 - 10 of 184 |
Posted Date: Wednesday, May 18, 2022
Treasury Secretary Janet Yellen provided testimony to the Senate Committee on Banking, Housing, and Urban Affairs regarding the Financial Stability Oversight Committee (FSOC). She spoke about cryptocurrency, Russian sanctions, access to healthcare, the post-pandemic economy and cybersecurity.
Republicans on the committee were critical of what they considered the FSOC’s pursuit of a political agenda instead of focusing on “real risks” to the economy.
Read on for more details. Read on »
Posted Date: Wednesday, May 18, 2022
Stablecoins, a variety of cryptocurrency anchored to or backed by a real-world asset to maintain its value, are believed to be a significant part of the long-term future of cryptocurrency usage.
However, one stablecoin, TerraUSD, which was anchored to the value of the U.S. dollar, recently saw a near-total loss in value which has put the longevity and legitimacy of stablecoins into question.
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Posted Date: Wednesday, April 13, 2022
Less than a month after President Joe Biden signed an executive order directing the executive branch of the federal government to assess the potential risks and benefits of a central bank digital currency (CBDC), members of Congress have begun acting in response.
While Democrat members of Congress are looking to support the president’s push for a CBDC, their Republican counterparts are pushing new legislation to limit the federal government’s ability to create a digital currency.
Read on for more details. Read on »
Posted Date: Monday, April 11, 2022
Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) are developing bipartisan legislation designed to establish a regulatory framework for the crypto industry. The senators are trying to address safety and consumer protection concerns while providing stability and oversight to the digital asset markets.
Treasury Secretary Janet Yellen has also spoken publicly for the first time about the role Treasury will take in the future crypto regulatory framework; and SEC Chair Gary Gensler continues his efforts to expand investor protections in the crypto markets.
Read on for more details. Read on »
Posted Date: Wednesday, March 16, 2022
The Government Accountability Office (GAO) has published a report on the progress federal agencies and regulators have made to increase access to banking services to those that are historically underserved.
The report endeavored to determine why these groups, who historically have seen less access to banking services, continue to face limitations to accessibility, affordability, and use of banking services.
Read on for more details. Read on »
Posted Date: Monday, March 14, 2022
President Biden signed an executive order directing federal agencies to examine the legal and economic ramifications of creating a U.S. central bank digital currency (CBDC). The order sets a 180-day deadline for a series of reports on “the future of money.”
Read on for more details. Read on »
Posted Date: Wednesday, March 9, 2022
Amalgamated Financial decided to terminate its application for regulatory approval to acquire Amalgamated Bank of Chicago. In a statement from the board of directors, the inability to garner regulatory approval was cited as the reason for this termination.
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Posted Date: Thursday, September 30, 2021
As part of the American Families Plan, President Joe Biden has proposed a change to the framework of Form 1099-INT reports, requiring additional information to be included for certain businesses and personal accounts over a de minimis gross threshold.
The change is part of a plan to bolster the Internal Revenue Service, close the tax gap, and increase taxpayer voluntary compliance with tax payments.
To learn how industry groups are reacting, read on. Read on »
Posted Date: Thursday, September 16, 2021
The Federal Housing Finance Agency and the U.S. Department of the Treasury have suspended four provisions of the preferred stock purchase agreements (PSPA) with Fannie Mae and Freddie Mac (the Enterprises).
In addition to suspending portions of the PSPAs, the agency also has issued a notice of proposed rulemaking related to amending the Enterprise regulatory capital framework rule.
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Posted Date: Friday, August 6, 2021
The Federal Housing Finance Agency, as well as the U.S. Departments of Agriculture, Housing and Urban Development, and Veterans Affairs, released a joint statement on their actions to prevent evictions as the Centers for Disease Control and Prevention’s eviction moratorium expired July 31, 2021.
Read on for more details. Read on »
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