Responding to industry complaints, the Small Business
The SBA capped base fees at $14,000 per exam for these large companies
The SBA will make up the fee shortfall from the growth of SBICs, but
The Bureau of Labor Statistics issued its unemployment report for June, showing that the economy added 147,000 jobs. The report supports the Federal Reserve's patience to cut interest rates.
A Federal Reserve proposal to calculate stress capital buffers would mean that the banking system could be less likely to withstand an economic shock, the Democratic senator said.
The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.
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.
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.
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.
