Comptroller of the Currency Jonathan Gould reportedly said that the Office of the Comptroller of the Currency’s (OCC) work to relax leveraged-loan rules for banks will reduce the regulatory burden on those lenders and help them compete with the private credit industry. Gould included these comments in a letter...
A bill advanced to the House of Representatives by the House Financial Services Committee aims to reduce unnecessary regulatory burdens on community banks and small credit unions, the committee said in a Friday (Jan. 23) press release. The Community Bank Regulatory Tailoring Act of 2026...
The Justice Department is reportedly investigating allegations that human resources company Deel recruited a spy inside rival firm Rippling. The U.S. attorney for the Northern District of California sent out grand jury subpoenas seeking information about the alleged plot, The Wall Street Journal reported Friday...
President Donald Trump sued JPMorgan Chase and CEO Jamie Dimon for $5 billion on Thursday (Jan. 22), alleging that the financial institution debanked him and some of his companies for political reasons in 2021. Trump announced the lawsuit in a post on Truth Social by...
Kalshi is facing a preliminary injunction that may block it from including sports and related event contracts on its prediction market in Massachusetts. Massachusetts Attorney General Andrea Joy Campbell secured the preliminary injunction in a lawsuit against the company Tuesday (Jan. 20), she said in...
British financial regulators have cleared an open banking project by the UK Payments Initiative (UKPI). The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSA) announced Tuesday (Jan. 20) that they will not prioritize a competition investigation into the centralized “access fee” pricing model being developed by the UKPI ...
Payment processor Cliq said Monday (Jan. 19) that it will “vigorously defend” against a legal motion filed Tuesday (Jan. 13) by the Federal Trade Commission (FTC). The motion alleges that the company, CEO Andrew Phillips and Chief Technology and Security Officer John Blaugrund violated a 2015 order requiring “reasonable steps to prevent and detect fraud,” the...
The Italian Competition Authority (AGCM) launched two investigations into the Microsoft-owned gaming company Activision Blizzard, alleging that it engaged in “misleading and aggressive practices.” The investigations focus on the video games “Diablo Immortal” and “Call of Duty Mobile,” and whether some of the company’s practices...
Visa, Mastercard and Revolut lost a fight over a proposed transaction fee cap in the United Kingdom. The High Court in London ruled Thursday (Jan. 15) that the U.K.’s Payment Systems Regulator (PSR) has the right to set a price cap for cross-border interchange fees,...