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Financial Regulation

All articles tagged with #financial regulation

Trump administration weighs retroactive citizenship proof for bank accounts
politics1 day ago

Trump administration weighs retroactive citizenship proof for bank accounts

The Trump administration is reportedly weighing a retroactive mandate for banks to collect proof of citizenship from all current and new customers, excluding REAL IDs; the policy would likely be pursued via executive action rather than legislation, and White House/ Treasury positions are unclear. Industry groups warn the move would be costly and logistically unworkable, raising concerns about nationwide implementation and potential GOP pushback.

via Semafor|
#bank-accounts#citizenship-verification#financial-regulation
business26 days ago

SEC Names Fresh PCAOB Leadership to Strengthen Audit Oversight

The Securities and Exchange Commission announced Demetrios (Jim) Logothetis as PCAOB Chairman and named Mark Calabria, Kyle Hauptman, and Steven Laughton to the board, with George Botic remaining as a board member and Acting Chairman until Logothetis is sworn in. Created by the Sarbanes-Oxley Act and overseen by the SEC, the PCAOB oversees audits of public companies and broker-dealers to protect investors and maintain independent, informative audit reports. Logothetis’ term runs through 2030, Calabria through 2027, Hauptman through 2029, and Laughton through 2026.

via SEC.gov|
#audit#business#financial-regulation
Coinbase opposition stalls Senate crypto regulation bill
business1 month ago

Coinbase opposition stalls Senate crypto regulation bill

The U.S. Senate Banking Committee postponed a discussion of a draft cryptocurrency regulation bill hours after Coinbase CEO Brian Armstrong opposed it, arguing the plan would define tokens as securities or commodities and could curb tokenized equities and stablecoin rewards; with Coinbase’s backing in doubt, the bill’s fate remains uncertain.

via Reuters|
#blockchain-and-cryptocurrency#business#cryptocurrencies
Trump Proposes One-Year 10% Cap on Credit Card Interest Rates
business1 month ago

Trump Proposes One-Year 10% Cap on Credit Card Interest Rates

Bill Ackman criticized President Trump's proposal for a one-year 10% cap on credit card interest rates, warning it could lead to widespread credit card cancellations and push consumers toward higher-cost loans. Ackman acknowledged the goal of reducing rates is important but argued that making the market more competitive and fostering new entrants would be a better approach. The proposal would require congressional approval, and its implementation remains uncertain.

via Business Insider|
#bill-ackman#business#credit-card-interest-rates