Latest Banking and credit regulation News

Bank of England: Crypto crashes show need for tougher rules

Jul. 05, 2022 10:55 AM EDT

LONDON (AP) — The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then $2 trillion in value highlight the need for tougher financial regulations The U.K.'s central bank said that the crashes exposed vulnerabilities in the crypto markets...

Man convicted of possessing gun that injured juvenile

Jun. 29, 2022 15:43 PM EDT

PROVIDENCE, R.I. (AP) — A Rhode Island resident previously convicted of bank robbery pleaded guilty Wednesday to being in possession of a gun that a juvenile used to accidentally shoot himself in the knee, federal prosecutors said. Branden Eddie Smith, 37, was prohibited by law...

Editorial Roundup: Ohio

Jun. 27, 2022 07:14 AM EDT

Cleveland Plain Dealer. June 24, 2022. Editorial: Jon Husted should resign his seat on a private bank’s board of directors It is hard to understand how Ohio Lt. Gov. Jon Husted does not see a problem with serving as a paid board member for a private Ohio bank that...

EU leaders endorse Croatia's switch to euro currency

Jun. 24, 2022 09:14 AM EDT

BRUSSELS (AP) — European Union leaders agreed Friday that Croatia will join the group of countries using the euro, bringing the number of nations sharing the currency to 20 starting in January. “The euro is the monetary expression of our shared destiny and has been part of our...

All big US banks pass Fed's annual 'stress tests'

Jun. 23, 2022 17:15 PM EDT

NEW YORK (AP) — The nation’s 33 biggest banks have enough capital to withstand a severe economic contraction, the Federal Reserve said Thursday. In its latest annual “stress tests” of the U.S. financial system, the Fed built a scenario under which the nation’s unemployment...

German officials seize apartments of Russian lawmaker, wife

Jun. 20, 2022 07:58 AM EDT

BERLIN (AP) — German prosecutors said Monday that they have seized three apartments and a bank account owned by a Russian lawmaker and his wife under European Union sanctions imposed because of the invasion of Ukraine. Prosecutors in Munich said the Duma lawmaker and his wife —...

Aging dams could soon benefit from $7B federal loan program

Jun. 10, 2022 11:28 AM EDT

Eight years after Congress created the program, the U.S. Army Corps of Engineers is taking a first step toward offering more than $7 billion of federally backed loans to repair aging dams owned by states, local governments and private entities across the U.S. The Corps published a...

Israeli settlers at risk of losing special West Bank status

Jun. 10, 2022 02:23 AM EDT

JERUSALEM (AP) — Israeli settlers in the occupied West Bank may soon get a taste of the military rule that Palestinians have been living under for 55 years. If Israel’s parliament does not act, a special legal status accorded to the settlers will expire at the end of the month,...

Bank of Jamaica to launch nationwide digital currency

Jun. 07, 2022 11:22 AM EDT

SAN JUAN, Puerto Rico (AP) — The Bank of Jamaica is preparing to issue a nationwide digital currency for the first time in its history following recent approval from legislators. The move is expected to help many on the island of nearly 3 million who don’t have bank accounts,...

Israeli coalition suffers loss, faces uncertain prospects

Jun. 06, 2022 17:27 PM EDT

JERUSALEM (AP) — Israel’s government on Monday failed to pass a bill extending legal protections for settlers in the occupied West Bank, marking a major setback for the fragile coalition that could hasten its demise and send the country to new elections. The failure to renew the...