Two U.S. lawmakers reportedly want the country to rethink its banking relationship with Hong Kong. Rep. John Moolenaar, R-Michigan, and Rep. Raja Krishnamoorthi, D-Illinois, sent a letter to Treasury Secretary Janet Yellen asking how the department plans to combat money laundering and sanctions evasion conducted through Hong Kong’s financial...
There’ll be a moratorium on new banking rules — at least for a bit. A trio of the top financial services industry regulators told the House Financial Services Committee Wednesday (Nov. 20) that any new rulemaking would not commence until next year, after the incoming...
A newly proposed bill would require states that allow sports betting to meet minimum federal standards covering advertising, affordability and artificial intelligence. The SAFE Bet Act was introduced Thursday (Sept. 12) by Congressman Paul D. Tonko, D-.Y., and Sen. Richard Blumenthal, D-Conn., according to a press release...
The Federal Reserve’s latest report to Congress offered a snapshot of money spent — and returns on investment — on all manner of payment systems. As real-time fund flows gain ground, the Fed’s 2023 missive detailed progress and positive returns on Fedwire, which previously was...
August 21, 2024
The Federal Reserve’s latest report to Congress offered a snapshot of money spent — and returns on investment — on all manner of payment systems. As real-time fund flows gain ground, the Fed’s 2023 missive detailed progress and positive returns on Fedwire, which previously was in the red, and gave a cumulative cost breakdown of […]
June 10, 2024
Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and...
May 29, 2024
The technology for central bank digital currencies (CBDCs) already exists. And as dozens of countries around the world have proven, in less time than it took to read this sentence,...
April 24, 2024
The clock is running out on TikTok’s U.S. ambitions. President Joe Biden on Wednesday (April 24) signed a bipartisan measure that gives TikTok’s owner, Chinese tech giant ByteDance, nine months...
December 06, 2024
The Financial Stability Oversight Council (FSOC) said Friday (Dec. 6) that Congress should pass legislation ensuring that relevant agencies have the examination and enforcement powers they need to oversee their regulated entities’ third-party service providers. The FSOC said these relevant agencies include the Federal Housing Finance Agency and the National Credit Union Administration, according to a Friday press release […]
November 25, 2024
Two U.S. lawmakers reportedly want the country to rethink its banking relationship with Hong Kong. Rep. John Moolenaar, R-Michigan, and Rep. Raja Krishnamoorthi, D-Illinois, sent a letter to Treasury Secretary Janet Yellen asking how...
September 13, 2024
A newly proposed bill would require states that allow sports betting to meet minimum federal standards covering advertising, affordability and artificial intelligence. The SAFE Bet Act was introduced Thursday (Sept. 12)...
June 05, 2024
Twelve members of Congress are calling on the Biden Administration to work to free Binance executive Tigran Gambaryan from detention in Nigeria, saying he is being wrongfully detained and may...
