The House Financial Services Committee (HFSC) voted Thursday (May 16) to advance a bill that would raise the asset thresholds for several regulations covering banks from $10 billion to $50 billion. The Bank Resilience and Regulatory Improvement Act (H.R. 8337) will now move to the full House for consideration, the HFSC...
Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of history. All the way back to England, Parliament and the Crown. All the way back to the inner workings of...
Members of Congress from both houses and both parties sent a letter Tuesday (May 14) to the heads of eight federal financial regulatory agencies, urging them to implement the Financial Data Transparency Act (FDTA). The letter was signed by House Financial Services Committee Chairman Patrick McHenry, Ranking Member Maxine Waters, Sen. Mike Crapo and Sen. Mark Warner. Implementing the law...
The Supreme Court ruled Thursday (May 16) that the Consumer Financial Protection Bureau’s funding mechanism is constitutional. The decision reversed a lower court ruling that threatened the very existence of the agency. Seven justices concurred with the decision, while two dissented. “The statute that authorizes the bureau to draw money from...
May 14, 2024
For the Consumer Financial Protection Bureau (CFPB), the courts have been a hotbed of action, lawsuits, appeals and back-and-forth between lawyers. Almost everything boils down to the decision that will come down from the Supreme Court — a decision that will determine whether the agency can exist at all. In terms of the timeframe, the decision is widely expected to be […]
April 19, 2024
Digitization is increasingly revolutionizing the B2B landscape with streamlined procurement processes, and even better payments workflows. Don’t believe it? Look no further than the U.S. government, the world’s single largest...
April 08, 2024
The Maryland Online Data Privacy Act of 2024, a proposed bill set to impact data collection and online privacy, successfully passed both the Senate and House of Delegates and now awaits...
March 19, 2024
Steve Sprague, chief strategy and product officer at Sovos, told PYMNTS in a recent interview that tax compliance is changing — from an intermittent activity to a continuous one. In...
May 17, 2024
The House Financial Services Committee (HFSC) voted Thursday (May 16) to advance a bill that would raise the asset thresholds for several regulations covering banks from $10 billion to $50 billion. The Bank Resilience and Regulatory Improvement Act (H.R. 8337) will now move to the full House for consideration, the HFSC said in a Thursday press release. The bill would raise the […]
May 16, 2024
Members of Congress from both houses and both parties sent a letter Tuesday (May 14) to the heads of eight federal financial regulatory agencies, urging them to implement the Financial Data Transparency Act (FDTA). The letter was...
May 16, 2024
The Supreme Court ruled Thursday (May 16) that the Consumer Financial Protection Bureau’s funding mechanism is constitutional. The decision reversed a lower court ruling that threatened the very existence of the agency. Seven justices concurred...
May 16, 2024
The British government is loosening its rules for brick-and-mortar betting businesses as online gambling grows. The U.K.’s Department for Culture, Media and Sport issued a report Thursday (May 16) that would allow for...
