Latest Banking and credit regulation News

Workers erect scaffolding at the Louisiana Capitol on Thursday, Jan. 21, 2021, in Baton Rouge, La. A new phase of building repairs has started to replace mortar on the walls of the House and Senate chambers. (AP Photo/Melinda Deslatte)

Analysis: New repair work, more needed at Louisiana Capitol

Jan. 24, 2021 4:00 PM EST

BATON ROUGE, La. (AP) — The Louisiana Capitol cost $5 million to complete nearly 90 years ago, but its ongoing repair needs total tens of millions of dollars today, little of which has been earmarked for the upkeep project to ensure the historic Art Deco building can remain the seat of government for...

FILE - In this June 27, 2017, file photo, bundles of $20 bills are placed on a table as Jerred Kiloh, owner of the Higher Path medical marijuana dispensary, prepares a trip to Los Angeles City Hall to pay his monthly tax payment in cash in Los Angeles. The leading cannabis industry group in California announced Tuesday, Jan. 19, 2021, it had reached an agreement with a state credit union that will provide access to checking and other banking services for marijuana companies, ending what had been a longstanding obstacle for many businesses. (AP Photo/Jae C. Hong, File)

Deal offers more banking services for California pot firms

Jan. 19, 2021 7:26 PM EST

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...

FILE - In this May 8, 2019 file photo, then Federal Trade Commission commissioner Rohit Chopra testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill in Washington. President-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. (AP Photo/Susan Walsh)

Biden picks Chopra, Gensler for financial oversight roles

Jan. 18, 2021 5:42 PM EST

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

Jan. 18, 2021 12:45 PM EST

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...

FILE - This Thursday, June 6, 2019 file photo shows the U.S. Treasury Department building at dusk in Washington. The Corporate Transparency Act, enacted into law on Jan. 1, 2021, seeks to strengthen controls by creating a registry managed by the Treasury Department that will contain the names of the true owners of both domestically-created shell companies as well as foreign ones conducting business in the U.S. (AP Photo/Patrick Semansky)

New law cracks down on shell companies to combat corruption

Jan. 10, 2021 12:01 PM EST

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

Jan. 6, 2021 5:15 PM EST

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...

FILE - This Nov. 9, 2009, file photo, shows the coal-fired San Juan Generating Station near Farmington, N.M. Three Democratic state senators who initially supported New Mexico's landmark energy law say changes are needed to protect utility customers from significant rate hikes. The 2019 Energy Transition Act allows Public Service Co. of New Mexico to recover from customers 100% of the costs of closing its coal-fired power plant. (AP Photo/Susan Montoya Bryan, File)

Lawmakers: New Mexico energy law needs to protect customers

Jan. 5, 2021 6:24 PM EST

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

Jan. 4, 2021 2:38 PM EST

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...

FILE - In this June 5, 2020 file photo, President Donald Trump poses for a photo after signing the Paycheck Protection Program Flexibility Act during a news conference in the Rose Garden of the White House in Washington.  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 to accept their applications. Or, they were disadvantaged by the program's terms. Data from the Paycheck Protection Program analyzed by The Associated Press show many minority owners desperate for a loan didn’t receive one until the PPP's last weeks.   (AP Photo/Evan Vucci, File)

Minority-owned companies waited months for loans, data shows

Jan. 3, 2021 11:09 AM EST

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

Dec. 28, 2020 9:19 PM EST

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...