The Department of Labor has proposed a rule clarifying joint employer status under federal wage and hour laws, saying the proposal would make it simpler for employers to comply with the laws and for employees to understand their rights. Announced by the Department’s Wage and Hour Division, the proposed...
The future of payments infrastructure may hinge less on technology than on who is permitted to connect to it. Legislation introduced in the U.S. House this week, known as the Payments Access and Consumer Efficiency Act (PACE Act), would establish a federal registration pathway for...
A bill that would reduce small lenders’ reporting requirements was one of four bills the House Financial Services Committee advanced to the House of Representatives on Tuesday (April 21). The Small Lenders Exempt from New Data and Excessive Reporting Act (Small LENDER Act; H.R. 941),...
New York sued Coinbase and Gemini Titan Tuesday (April 21), alleging that the companies’ prediction market platforms are illegal, unlicensed gambling operations. The state’s Office of the Attorney General (OAG) alleged in a Tuesday press release that prediction market platforms fit New York’s legal definition...
New proposed federal legislation would give more financial institutions access to federal payment systems. The Payments Access and Consumer Efficiency (PACE) Act, introduced Tuesday (April 21), is designed to modernize the way companies access payment rails, according to U.S. Reps. Young Kim, R-Calif., and Sam...
The Office of the Comptroller of the Currency is moving on two fronts to reshape how interchange is governed in the United States, pushing federal oversight into a fight that started in Illinois but won’t stay there. In March, the OCC filed an amicus brief...
Kalshi’s battle with state governments over its sports-related event contracts may be headed for the Supreme Court, Fortune reported Monday (April 20). Several state governments and Native American tribes have filed legal challenges against Kalshi, arguing that the company is running an unlicensed gambling operation,...
Importers are preparing to file claims Monday (April 20) for refunds of tariffs, but are not certain what to expect, Reuters reported Friday (April 17). The federal government is set to launch a new system for handling the claims process on Monday, according to the...
The Commodity Futures Trading Commission (CFTC) is using artificial intelligence to boost efficiency, CFTC Chairman Michael S. Selig told a congressional committee Thursday (April 16). Speaking during a House Committee on Agriculture hearing, Selig said AI is one of the technologies the agency is using...