Anthropic’s Mythos highlights the speed at which artificial intelligence (AI) capabilities can advance and the need for supervisory approaches to keep pace with emerging technology, Federal Reserve Vice Chair for Supervision Michelle W. Bowman said Friday (May 1). In a speech delivered at an event...
The Consumer Financial Protection Bureau (CFPB) has reduced the small business data collection and reporting requirements under the Equal Credit Opportunity Act (Regulation B). The agency posted the final rule on the Federal Register on Thursday (April 30), and the rule is set to be...
The U.S. Department of the Treasury is proposing regulatory changes that would significantly restrict the circumstances under which federal agencies can issue paper checks, pushing the government closer to an all-electronic payment system. The Bureau of the Fiscal Service published a proposed rule Tuesday (April...
Shopify is reportedly seeking regulators’ permission to offer more financial and payment services to merchants. The eCommerce giant has already landed money transmitter licenses in more than a dozen states to hold and move funds itself, and hopes to get them on a nationwide basis, The...
Car companies are reportedly expecting a combined $2.3 billion in refunds on tariff payments. As Reuters reported Thursday (April 30), automakers have begun logging that anticipated income on their books, making them some of the first companies to quantify their refunds. Businesses began applying for their share...
Convicted crypto fraudster/FTX co-founder Sam Bankman-Fried has lost his bid for a new trial. According to multiple published reports, a federal judge on Tuesday (April 28) denied the self-written motion submitted by Bankman-Fried, who is serving 25 years in prison for his role in the multi-billion dollar collapse...
Sen. Elizabeth Warren, D-Mass., wrote a letter to bank regulators asking if they plan to enforce a temporary 10% cap on credit card interest rates that President Donald Trump called for in January, Bloomberg reported Tuesday (April 28). Warren sent her letter Monday (April 27) to officials...
The Commodity Futures Trading Commission (CFTC) plans to use artificial intelligence (AI) tools to review registration applications and monitor trading, CFTC Chairman Michael S. Selig told CoinDesk in a report published Tuesday (April 28). The regulator is training staff to use Microsoft’s Copilot and is building its own AI tools as well, according to...
England’s financial watchdog said social media platforms are not properly policing illegal financial promotions. The Financial Conduct Authority (FCA) called for greater action against “finfluencers” on Friday (April 24), following a week of worldwide regulatory action on the topic. “This collective push with international partners...