A young man with light brown hair and a black t-shirt posing against a white background.

Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.

Senator Jack Reed, a Democrat from Rhode Island, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2022. Photographer: Ting Shen/Bloomberg

The bill, dubbed the Insider Trading Prohibition Act, sponsored by Sen. Jack Reed, D-R.I., would amend the Securities Exchange Act of 1934 to prohibit certain securities trading and related communications by people who possess material, nonpublic information.

Technology
Jonathan Gould

There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.

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