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The Financial Technology Association has gone to court, claiming the state's remittance tax is invalid because it infringes on the Dormant Commerce Clause and Import-Export Clause in the U.S. Constitution, which prohibits states from enacting laws that discriminate against foreign commerce and from taxing imports and exports without Congress' consent.
18m ago -
Most banks are unprepared to stop or report an AI model run amok, a Wolters Kluwer study found.
1h ago -
Inflation continued to rise in May, bolstering the case for the Federal Reserve to keep its policy rate unchanged at next week's Federal Open Market Committee meeting. But the range of future monetary policy outcomes is wide, with all eyes on how newly installed Fed Chair Kevin Warsh navigates his new role.
3h ago -
The National Credit Union Administration proposed amending its common-bond provisions to allow the agency to approve some associations whose membership relies on the purchase of a product or service, a move banks say undermines the rationale for tax-exempt credit unions.
4h ago -
The digital bank released a treasury management system for its business users powered by a robo-adviser.
9h ago -
The burgeoning predictions market is gaining users and volume rapidly and is being largely embraced by the Trump administration. But banks are torn between the promise of new revenue streams and the iffy legal foundations of the new market.
10h ago
Published July 20, 2010, 5:33 p.m. EDT
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Updated July 20, 2010, 4:33 p.m. EDT
1 Min Read
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