Oracle was reportedly sued Wednesday (Jan. 14) by bondholders who allege that the company made false and misleading statements in the offering documents for an $18 billion debt sale. The proposed class action lawsuit includes investors who bought $18 billion of notes and bonds issued by Oracle on Sept. 25, after the company...
Watch more: TechReg Talks: Davis Wright Tremaine’s Steve Gannon The pursuit of bank charters by FinTechs and cryptocurrency-focused firms is accelerating, driven less by novelty and more by pragmatism. As these companies look to expand beyond niche services into core financial activities, charters are increasingly...
Capital One will reportedly pay $425 million and pay higher interest rates on certain accounts to settle a class action lawsuit alleging that depositors were cheated out of high interest rates. The bank’s addition of higher interest rates for depositors with 360 Savings accounts gained...
The Consumer Financial Protection Bureau and the Department of Justice withdrew a 2023 joint statement that warned lenders not to look at an applicant’s immigration status when considering extending credit. The agencies said in a Monday (Jan. 12) press release that the Equal Credit Opportunity...
Russell T. Vought, the acting director of the Consumer Financial Protection Bureau (CFPB), has requested a $145 million transfer from the Federal Reserve to fund the agency for the second quarter of fiscal 2026. The Jan. 9 request follows a federal judge’s order that CFPB...
Ripple received permissions that allow it to scale Ripple Payments, its cross-border payment solution that uses digital assets, in the United Kingdom. The permissions include approval of Ripple’s electronic money institution license and crypto asset registration from the U.K.’s Financial Conduct Authority, the company said...
This January is crunch time for the Senate on cryptocurrency market regulation efforts. After years of fits and starts on Capitol Hill, including key wins like the stablecoin-focused GENIUS Act, two Senate committees have now scheduled simultaneous markup sessions for draft legislation on crypto markets for...
A bill introduced in the U.S. House of Representatives Wednesday (Jan. 7) aims to support community banks by tailoring regulation to the size of the bank and making it easier to form new banks. The Main Street Capital Access Act (H.R. 6955) was introduced by...
Chinese regulators are investigating Meta’s $2 billion purchase of artificial intelligence startup Manus, CNBC reported Thursday (Jan. 8). The probe will focus on whether the deal complies with China’s export control laws, the report said. Meta acquired Singapore-based Manus last month as part of a...