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Results 1 - 10 of 735 |
Posted Date: Friday, December 1, 2023
Binance
Holdings Ltd., the world’s largest cryptocurrency exchange, is being ordered to
pay a record $3.4 billion fine and withdraw its U.S. operations for deliberate
breaches of the Bank Secrecy Act uncovered by the U.S. Treasury’s Financial
Crimes Enforcement Network. Binance was found to have violated anti-money
laundering rules and multiple sanctions programs. Read on »
Posted Date: Wednesday, November 22, 2023
Since
Congress voted in 2017 by a slim 51-50 margin to disapprove the Consumer
Financial Protection Bureau’s rule to prohibit mandatory arbitration agreements
in financial contracts via the Congressional Review Act, with a tie-breaking
vote cast by then-Vice President Mike Pence, consumer advocates have continued
to contest the decision. Read on »
Posted Date: Tuesday, November 21, 2023
Shortly after Veterans Day, the National Credit Union
Administration Board unanimously approved a final rule adding “war veterans’
organizations” to the definition of a “qualified charity,” which federal credit
unions are permitted to contribute to via a charitable donation account. Read on »
Posted Date: Friday, November 17, 2023
A
year’s worth of listening sessions, roundtables, written comments and other
public engagement about the Federal Home Loan Bank (FHLBank) System culminated
in the Federal Housing Finance Agency’s report, “FHLBank System at 100:
Focusing on the Future.” The report was compiled in anticipation of the
system’s centennial in 2032. Read on »
Posted Date: Tuesday, November 14, 2023
The
Fed’s latest Senior Loan Officer Opinion Survey on Bank Lending Practices
provides a comprehensive snapshot of ongoing changes in lending dynamics over
the three months prior to its completion, mainly reflecting developments within
the third quarter. The survey results reflect a cautious lending landscape,
characterized by tightened standards across various loan categories. Read on »
Posted Date: Friday, November 10, 2023
Speaking before the Securities Industry and Financial
Markets Association, Securities and Exchange Commission Chair Gary Gensler
delved into recent reforms aimed at enhancing the efficiency and resilience of Treasury
markets. Read on »
Posted Date: Tuesday, November 7, 2023
In
an effort to raise awareness about deposit insurance and its ability to protect
consumers’ financial interests in the event of a bank failure, the Federal
Deposit Insurance Corp. recently launched a national campaign dubbed, “Know
Your Risk. Protect Your Money.” Read on »
Posted Date: Friday, November 3, 2023
Consumer Financial Protection Bureau Enforcement Director
Eric Halperin highlighted the bureau’s recent achievements and ongoing efforts
to protect consumers in the financial industry, during a speech at the National
Compliance Law Center’s Consumer Rights Litigation Conference.
The director emphasized the importance of the agency’s
mission and the positive impact it has had on the consumer marketplace, despite
challenges to the agency’s statutory authority, constitutionality and funding
structure. Read on »
Posted Date: Friday, October 27, 2023
In its biennial report to
Congress, the Consumer Financial Protection Bureau data indicating outstanding
credit card debt in 2022 surpassed $1 trillion for the first time since the bureau
began tracking this data.
Credit card companies collected
more than $130 billion – $105 billion in interest and $25 billion in fees –
from consumers in 2022, the report states. Read on »
Posted Date: Tuesday, October 24, 2023
The annual conference for the National Society of Compliance
Professionals (NSCP) came during a period when federal rulemaking activity for
the financial industry is particularly high and there are many critical
compliance dates on the horizon.
The Securities and Exchange Commission is among the busiest
in that regard, NSCP Commissioner Mark
Uyeda noted in prepared remarks. Read on »
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