Latest Banking and credit regulation News

Biden chooses 3 for Fed board, including first Black woman

Jan. 14, 2022 18:11 PM EST

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed's board. ...

Biden nominates 3 for Fed board, including first Black woman

Jan. 14, 2022 17:38 PM EST

WASHINGTON (AP) — President Joe Biden on Friday announced the nominations of three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the...

Mexico's president wants Mexicans to buy Citigroup unit

Jan. 13, 2022 17:50 PM EST

MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador said Thursday he hopes Mexican investors buy the local subsidiary of Citigroup. In a post on social media, the president said that “we would like this bank to be Mexicanized,” contending that foreign bankers...

Tarnished Gold: Illegal Amazon gold seeps into supply chains

Jan. 13, 2022 10:22 AM EST

SAO PAULO (AP) — The medals were billed as the most sustainable ever produced. To match the festive spirit of South America’s first Olympics, officials from Brazil, the host country for the 2016 games in Rio de Janeiro, boasted that the medals hung around the necks of athletes on...

Brainard vows to help combat inflation as No. 2 Fed official

Jan. 12, 2022 19:58 PM EST

WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed's No. 2 official. Brainard, a member of the...

Mexico: Citibank sale poses 'delicate' antimonopoly issues

Jan. 12, 2022 11:52 AM EST

MEXICO CITY (AP) — Mexican authorities said Wednesday they are going to keep a close eye on Citigroup’s proposed sale of its Mexico subsidary, Citibanamex, noting the transaction poses “delicate” regulatory issues. Citibanamex is Mexico’s third-largest bank and regulators...

SC General Assembly back in session with plenty to spend

Jan. 11, 2022 14:34 PM EST

COLUMBIA, S.C. (AP) — South Carolina lawmakers opened their 2022 session on Tuesday with the familiar problem of the COVID-19 pandemic and a more unfamiliar problem of bank accounts bursting with money. As is customary for the first day, lawmakers didn't do much except greet each...

Tax cuts, education changes among GOP legislative priorities

Jan. 09, 2022 10:25 AM EST

DES MOINES, Iowa (AP) — The Iowa Legislature begins the 2022 session Monday with nearly $2 billion in the bank and a strong urge by Republican legislative leaders and the governor to cut taxes. There will be pushback from Democrats and others who will call for spending some of the...

Israel lawmaker under fire for remarks on West Bank settlers

Jan. 06, 2022 11:00 AM EST

TEL AVIV, Israel (AP) — An Israeli deputy minister was under fire Thursday for calling residents of an unauthorized West Bank settlement outpost “subhuman,” sparking an outcry that underscored the fragility of Israel's ideologically diverse coalition. Yair Golan, a former...

SEC: Payday loan scheme bilks investors out of millions

Dec. 28, 2021 10:38 AM EST

MIAMI (AP) — The owner of a Miami-based payday loan company bilked hundreds of investors out of millions of dollars and repaid others with money he acquired from a Ponzi scheme, according to a newspaper report and federal regulators. About 500 investors, many from South Florida’s...