A divided U.S. Senate Commerce Committee has voted to send the nominees for the Federal Communications Commission and Federal Trade Commission to the floor for confirmation votes, Reuters reported Thursday (March 3). The committee votes on the nominees came down 14-14, which means the full...
U.S. lawmakers considered legislation Tuesday (March 1) designed to protect online users. The House Committee on Energy and Commerce’s Subcommittee on Consumer Protection and Commerce invited consumer groups, policy makers and law enforcement officials to discuss the Banning Surveillance Advertising Act of 2022, Algorithmic Accountability Act...
The Biden administration is preparing sanctions against Russia that would come with banning U.S. financial institutions from processing transactions from Russia’s biggest banks if Russia invades Ukraine, Reuters reported Monday (Feb. 21). The measures would strike against the Russian economy by removing the “correspondent” banking...
Republicans in the Senate have blocked a vote on some of President Biden’s Federal Reserve nominees, The Wall Street Journal reported Tuesday (Feb. 15), as they refused to attend the vote. The vote was for all five picks for the Fed, and the main disagreement...
Sarah Bloom Raskin, a Biden nominee for the Fed’s top banking position, has the co-founder of Reserve Trust defending her over charges that she’s had conflicts of interest between government and private jobs in the past, Bloomberg reported Friday (Feb. 11). Some Senate Republicans have...
Sarah Bloom Raskin, President Biden’s pick for Federal Reserve bank supervisor, is in hot water over her revolving door roles between the government and private sector. According to multiple reports Thursday (Feb. 10), the main question that came up during her confirmation hearing last week...
It was a tough day for Sarah Bloom Raskin, who has been president’s pick to hold a key post at the Federal Reserve Board. A former top U.S. Treasury Department official during the Obama administration, Raskin faced a grilling from Republican members of the Senate...
Jelena McWilliams, a Trump-era appointee banking regulator, has resigned as of Friday (Dec. 31), per a Financial Times report. This will offer the new Biden admin a better way to reshape how financial oversight works under the new presidency. McWilliams said she will leave the...
The Biden administration is considering former Fed governor Sarah Bloom Raskin for a top position at the Federal Reserve. As the Wall Street Journal reported Tuesday (Dec. 28), Raskin would become the central bank’s vice chairwoman of supervision, while two other nominees would fill board...
