WASHINGTON - (09/22/05) -- A bill to provide credit unions andbanks with regulatory relief is expected to die again this year inthe Senate, even as the House prepares to vote on the creditunion-backed measure. Senate Banking Committee Chairman RichardShelby, R-Ala., told credit union representatives during a closeddoor meeting Tuesday his committee's agenda is too busy, speciallywith the onset of Hurricane Katrina-related priorities, that thereis not enough time to fully debate a regulatory relief bill thisyear. The banking panel, Shelby said, is expected to spend a lot ofits time debating the controversial bill to reform the secondarymortgage market and oversight of Fannie Mae and Freddie Mac,leaving little time for non-Katrina related matters, sourcesattending the meeting told The Credit Union Journal. Still, thebanking committee could still debate and vote the regulatory reliefbill next year, in the second session of the 109th Congress. Thefailure to act on the Reg Relief bill also means the Senate ishighly unlikely to entertain credit unions' own regulatory reliefpackage, known as the CU Regulatory Improvements Act, orCURIA.
-
Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
7h ago -
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
7h ago -
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
8h ago -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
9h ago -
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
10h ago -
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
10h ago