The Federal Reserve has announced the leaders of five task forces that will examine the Fed’s methods, analytical tools and policy approaches and provide “candid feedback” for the Federal Open Market Committee. Each task force will co-led by three external advisors, will operate independently and will be supported by Fed staff,...
Newspapers suing OpenAI for copyright infractions are reportedly now seeking sanctions against the AI startup. The papers, The New York Times (NYT) and New York Daily News among them, accuse OpenAI of lying to a federal court about its ability to search its systems for...
The Consumer Financial Protection Bureau (CFPB) has submitted a request for information regarding credit card late fees and late payments, according to a Pending EO 12866 Regulatory Review posted by the Office of Information and Regulatory Affairs (OIRA). The request is at the prerule stage,...
Block will pay $45 million to settle allegations from 46 states that the company misled consumers about the safety of its peer-to-peer payments app, Cash App, and failed to provide the fraud protection and resolution required by law. The investigation was led by Oregon and Texas, the Oregon Department of...
A division of the Securities and Exchange Commission told UBS Group Wednesday (July 8) that it will not recommend that the regulator undertake enforcement action against an exchange of securities ordered by the Swiss Financial Market Supervisory Authority (FINMA). The SEC’s Division of Corporation Finance...
A federal judge on Tuesday (July 7) denied Kalshi’s request for a preliminary injunction to block New York from enforcing its gambling laws against the company’s prediction markets platform, Reuters reported Wednesday (July 8). U.S. District Judge Analisa Torres rejected Kalshi’s argument that the federal...
A reported new investigation by the Commodity Futures Trading Commission (CFTC) into prediction market platform Polymarket is shifting regulatory attention beyond the legal status of event contracts. According to a new analysis by Anderson Insights, the regulator’s inquiry reaches into the marketing, consumer protection and...
The Federal Reserve Board plans to amend its requirements for banks to maintain anti-money laundering (AML) programs to, among other things, require them to focus their AML resources based on risk. In addition to requiring bank to give more attention to higher-risk customers and activities,...
The Securities and Exchange Commission (SEC) is adding a new operations chief at a moment when the agency is trying to move faster on crypto, market structure and investor protection. The Securities and Exchange Commission said Monday (July 6) that Paul Knight has been named...