The House of Representatives passed a joint resolution to nullify the rule finalized by the agency last and prohibiting it from implementing similar reforms in the future. It will now go to the president's desk for his signature.
As the Federal Deposit Insurance Corp.'s Deposit Insurance Fund inches toward replenishment, acting Chair Travis Hill suggested that banks should be assessed on a range of metrics rather than insured deposits alone.
Prepaid cards are finding new use cases in the hospitality industry, where tip disbursements have traditionally been cumbersome.
Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.
A Northern California judge has ruled that Yotta must specify Synapse's role in alleged fraud, as well as details of the fraud.
The Senate's version of a stablecoin regulation bill cleared a key procedural hurdle as the Senate voted 66-32 to invoke cloture on the legislation. A final vote on the Senate floor is expected within weeks.
