The Biden administration is rolling out new recordkeeping rules for U.S. investment advisers in its continued effort to clamp down on money laundering, illicit finance and fraud in the American financial system.
The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
Democrats have updated a Biden administration proposal that would require that banks and credit unions report account activity to the Internal Revenue Service, but trade groups remain opposed to the plan.
The Paycheck Protection Program loan portal will open to lenders with $1 billion in assets or less at 9 a.m. tomorrow, with the remaining lenders gaining access to the portal on Tuesday.
The next round of Paycheck Protection Program loans will begin on Monday, though not all lenders will have access to the program right away.
A congressional report released last week provided evidence that the Treasury Department had advised banks to focus on existing customers during the early days of the Paycheck Protection Program, a finding that the Treasury Department denied.
Small business owners who received Paycheck Protection Program loans for less than $50,000 will receive forgiveness even if they have reduced their number of employees, according to guidance released yesterday by the U.S. Small Business Administration.
The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.
The Trump administration announced Friday it will publicly disclose the names of recipients of the taxpayer-funded loans, the amounts they received in ranges, as well as demographic data on the businesses.
