Latest Banking and credit regulation News

Chinese regulator orders Ant Group to conduct major overhaul

Apr. 12, 2021 08:48 AM EDT

HONG KONG (AP) — Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid stepped up scrutiny of technology firms. In a meeting Monday, the central...

Beshear signs bill aimed at rejuvenating western Louisville

Apr. 09, 2021 19:29 PM EDT

LOUISVILLE, Ky. (AP) — Gov. Andy Beshear signed legislation Friday creating a financing plan to stimulate economic growth in western Louisville, calling it a good start to overcoming "decades of neglect.” Rural and urban lawmakers banded together to pass the measure...

Legislature OKs slimmed down infrastructure bonding bill

Apr. 09, 2021 13:38 PM EDT

BISMARCK, N.D. (AP) — Senate lawmakers said Friday they are looking to restore hundreds of millions of dollars cut from an approved landmark bonding package aimed largely at financing infrastructure projects across the state. The original bonding package sought $1.1...

State House funds rail, kills funds aimed at Hoeven's bank

Apr. 07, 2021 17:29 PM EDT

BISMARCK, N.D. (AP) — The North Dakota House agreed Wednesday to fund a rail spur to help a troubled shipping center in Minot, but balked at giving more than $8 million in taxpayer money to bail out a trio of banks — including one owned by Republican U.S. Sen. John Hoeven -- that obtained...

Genworth pulls plug on its acquisition by China Oceanwide

Apr. 07, 2021 16:16 PM EDT

RICHMOND, Va. (AP) — Insurer Genworth Financial has pulled the plug on its long-delayed acquisition by a Chinese company. The provider of mortgage and long-term care insurance based in Richmond, Virginia, said Tuesday that it had exercised its right to terminate the...

US boosts aid to Palestinians as some in Congress cry foul

Apr. 07, 2021 13:26 PM EDT

WASHINGTON (AP) — The Biden administration is moving again to increase U.S. assistance to the Palestinians as it fires up a new Mideast policy that is directly opposite of the one pursued by its predecessor. For the third time in two weeks, the administration has...

Cyprus kicks off new registry declaring true company owners

Apr. 07, 2021 11:50 AM EDT

NICOSIA, Cyprus (AP) — A new digital registry obliging Cyprus-based companies to declare their true owners puts the east Mediterranean island nation in line with European Union regulations against terror financing and organized crime, the country's commerce and energy minister said on...

Nevada farmers and conservationists balk at 'water banking'

Apr. 05, 2021 23:04 PM EDT

CARSON CITY, Nev. (AP) — Rural water users are panicking over a proposal to create a market for the sale and purchase of water rights in Nevada, unconvinced by arguments that the concept would encourage conservation. Lawmakers on Monday weighed whether so-called...

North Dakota Legislature aims to save days in home stretch

Apr. 02, 2021 17:00 PM EDT

BISMARCK, N.D. (AP) — North Dakota’s Legislature is working to bank several days this session to give lawmakers a cushion later in the year to approve new legislative districts and to decide how to spend expected federal coronavirus aid. The North Dakota Constitution...

Budget writers derail plan seen as bailout for Hoeven's bank

Apr. 01, 2021 15:04 PM EDT

BISMARCK, N.D. (AP) — Budget writers in the Republican-controlled North Dakota House want to derail legislation to save a troubled shipping facility, after criticism that the move was a bailout for banks, including one owned by GOP U.S. Sen. John Hoeven. Five Minot-area...