Latest Banking and credit regulation News
Deal offers more banking services for California pot firms
LOS ANGELES (AP) — A California cannabis industry group announced Tuesday that it reached an agreement with a state credit union that will provide checking, wire transfers and other banking services for more marijuana companies, helping ease what has been an obstacle for many businesses. Most Americans...
Biden picks Chopra, Gensler for financial oversight roles
WASHINGTON (AP) — President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Chopra, now a commissioner at the Federal Trade Commission, helped launch...
North Dakota GOP to scrub ambitious $1.1B bonding proposal
BISMARCK, N.D. (AP) — A massive $1.1 billion bonding package aimed largely at financing infrastructure projects across North Dakota is being withdrawn and will be replaced by a far less costly proposal, Republican legislative leaders said Monday. Senate Majority Leader Rich Wardner, who unveiled the...
New law cracks down on shell companies to combat corruption
MIAMI (AP) — For years as a federal prosecutor in New York, Daniel R. Alonso led teams that had to search through a maze of anonymously owned corporate entities to expose criminal activity. “It required all kinds of shoe-leather investigating to identify who was really behind these shell...
North Dakota Republicans unveil $1.1 billion bonding plan
BISMARCK, N.D. (AP) — North Dakota’s Republican legislative leaders on Wednesday unveiled a $1.1 billion bonding package aimed largely at financing infrastructure projects across the state and using earnings from the state’s oil tax piggy bank to pay for the borrowed money. The proposal is...
Lawmakers: New Mexico energy law needs to protect customers
ALBUQUERQUE, N.M. (AP) — Three Democratic state lawmakers who initially supported New Mexico’s landmark energy law are proposing changes to protect utility customers from significant rate hikes in the future. Sens. William Tallman and Antoinette Sedillo Lopez of Albuquerque and Elizabeth Stefanics...
Dick Foley, former state GOP chairman, dies at 71
HARTFORD, Conn. (AP) — Former Connecticut Republican Party chairman Richard Foley Jr., a fixture for decades at the state Capitol and in state politics, has died. He was 71. He was found dead Saturday at his home in Danbury, party officials said. No cause of death was given. Foley served as a state...
Minority-owned companies waited months for loans, data shows
NEW YORK (AP) — Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many struggled to find banks that would accept their applications or were disadvantaged by the terms of the program. Data from the Paycheck Protection Program...
NY passes law to limit evictions, closures in pandemic
ALBANY, N.Y. (AP) — New York will freeze evictions and certain foreclosures for two months under a new law that the state's governor signed Monday. Renters who are facing pending evictions — or who face evictions in the next 30 days — will be protected from eviction for at least 60 days. And...
Fed finds big US banks in solid shape; keeps dividend limits
WASHINGTON (AP) — The Federal Reserve said Friday that the 33 largest U.S. banks are in strong shape despite the pandemic’s economic shock. The banks have ample capital cushions girding them against unexpected losses and that will also enable them to keep lending even under the most severe straits,...
LOADING MORE STORIES
