Latest Banking and credit regulation News

Former sheriff gets 12 years for bribery, money laundering

May. 20, 2022 17:46 PM EDT

NORFOLK, Va. (AP) — A former Tidewater Virginia sheriff was sentenced Friday to 12 years in prison for bribery and money laundering. Former Norfolk Sheriff Bob McCabe apologized to the court before the sentence was issued, news outlets reported. McCabe was ordered into custody in...

Outgoing Lebanon government approves economic recovery plan

May. 20, 2022 13:39 PM EDT

BEIRUT (AP) — Lebanon’s outgoing government on Friday approved a recovery plan for pulling the Mideast nation out of its economic meltdown, the country's information minister said. The development came during the Cabinet’s last official meeting before it becomes a caretaker...

Fed nominee Michael Barr calls inflation 'far too high'

May. 19, 2022 13:26 PM EDT

WASHINGTON (AP) — President Joe Biden's pick to be the Federal Reserve's top banking regulator pledged Thursday to help reduce high inflation and provide “clear rules” to govern financial innovation. “I strongly believe that inflation is far too high today and I’m...

Rights groups say new Cuba penal code tougher on dissent

May. 16, 2022 17:31 PM EDT

HAVANA (AP) — Cuba's parliament has approved a new penal code that officials say modernizes the country's laws but that human rights groups warn tightens already strict limits on dissent. The law approved Sunday tightly controls unauthorized contacts with foreign organizations and...

Senate approves Lisa Cook as first Black woman to Fed post

May. 10, 2022 19:51 PM EDT

WASHINGTON (AP) — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve's board of governors, making her the first Black woman to do so in the institution's 108-year history. Her approval was on a narrow, party-line vote of 51-50, with Vice President...

Anti-discriminatory bank law getting update for modern era

May. 05, 2022 16:54 PM EDT

NEW YORK (AP) — The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches. The stated aim of...

Israel tightens grip on West Bank with planned restrictions

May. 05, 2022 08:34 AM EDT

JERUSALEM (AP) — If, during your travels in the Holy Land, you decide to take the next step with your Palestinian sweetheart, you should notify the Israeli military within 30 days. That's what it says on page 30 of a new 97-page policy released by COGAT, the Israeli military body...

Dem lawmaker: Biden suggests he'll ease student loan burden

Apr. 28, 2022 00:05 AM EDT

WASHINGTON (AP) — President Joe Biden has signaled he might forgive some student loan debt and further extend the federal moratorium on repayments, a lawmaker who discussed the issue with him said Wednesday. The White House was notably more measured about Biden's stance, but such...

Disney government in dark about effect of law dissolving it

Apr. 27, 2022 16:53 PM EDT

LAKE BUENA VISTA, Fla. (AP) — At the first meeting of Walt Disney World's private government since Florida Gov. Ron DeSantis signed into law a measure to dissolve it next year, officials said Wednesday they were still confused about what the new legislation meant, even as some ripple effects were...

Nebraska state Sen. Rich Pahls of Omaha dies at 78

Apr. 27, 2022 16:08 PM EDT

LINCOLN, Neb. (AP) — A Nebraska state lawmaker and former Omaha city council member has died due to complications from cancer, his legislative staff said Wednesday. Sen. Rich Pahls was 78. Pahls, a Republican, first served in the Nebraska Legislature from 2005 until 2013, when term...