RICHMOND, Maine - (12/16/05) Bowdoinham FCU has backed away fromplans to buy a 62,000-square-foot building here on eight acres tobe its new headquarters. The credit union had planned to buy thebuilding, a former Etonic shoe factory, from the city for $500,000,but cited federal regulations and the likelihood it would have toinvest up to $250,000 to upgrade the space in making itsdecision.
Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.
In a new interpretive letter, the Office of the Comptroller of the Currency will allow banks to serve as middlemen for "riskless" crypto trades, extending existing brokerage authority for securities to digital assets.
New rules means sellers and servicers will need to have plans demonstrating proper oversight of their artificial intelligence and machine learning practices.
By placing the JPMD deposit token on a public blockchain, the bank hopes to sell a combination of regulatory cover with speed and transparency for large institutional transactions.
A survey compiled by the American Financial Services Association showed deteriorating business conditions during the third quarter of this year. The outlook for subprime borrowers was particularly grim.
Comptroller of the Currency Jonathan Gould said digital asset firms' trust charter bids fit into the historic scope of the charter, refuting claims that a 2021 interpretive letter he authored as OCC General Counsel expanded the charter's scope.
